Eleven teenagers spent three days at an on-site financial literacy training, where they learned to distinguish between "want" and "need", plan a budget and manage their own finances. The training was planned and organized by Orphans Future Foundation.
Thanks to trainers Maksym and Iryna, in the format of games and practical cases, the boys and girls understood how to save money, set goals and avoid financial traps. For example, they "lived" on a conditional salary, distributing funds for food, utilities and personal desires.
The training turned out to be extremely relevant and practically useful for the participants. According to the survey results:
- 100% of participants noted that they gained useful skills during the training;
- 82% understood how to better manage money and distinguish important expenses from unnecessary ones;
- most understood how much life in the city really costs, how to plan expenses to achieve goals, and how to protect yourself from financial fraud;
- a significant part of the participants noted that they began to think more before making purchases;
Experience shows that a one-time acquisition of financial knowledge is not enough to make it a stable skill. Financial literacy requires regular use and improvement.
Since most teenagers do not yet have real experience in independently managing money, without further practice this knowledge may remain at the level of “theoretical understanding” and not real changes in behavior. It is important that new approaches to money grow into daily financial habits, such as:
- thinking before buying,
- keeping track of expenses,
- discussing joint expenses in a group (team, family),
- checking information about products, promotions and offers,
- being skeptical of easy online earnings.
It is especially worth considering that children in our institutions:
- are less likely to have examples of responsible money management in the family environment;
- often make impulsive financial decisions due to limited access to funds;
- have a higher risk of falling for scammers on social networks.
To prevent loss of knowledge and the formation of false financial models in the future, it is important to periodically return to this topic and create spaces for practical application. Even simple weekly tasks — such as making a shopping list, comparing prices, or discussing the budget of a fictional trip — will help participants integrate new knowledge into their own lives.
Thus, support, repetition, and modeling of financial situations should be the key to the long-term effect of the training
As always, participants in the “On the Threshold of Independence” program improved their skills and abilities to make menus, budgets, make purchases with real money, and navigate the terrain.
We thank the institutions of Berezhany Lyceum and Ternopil Orphanage for close and important cooperation in preparing pupils for the realities of independent adult life in society.
Sincere gratitude to the benefactors: Ken Saridzh, Olena Mehedko, Yana Kalchuk, and the cafes "The Best Kids" and "Avtoport" for organizing delicious lunches.
Support the implementation of the program "On the Threshold of Independence", which takes place twice a month and the training budget is 7000 UAH. (includes transportation, meals).
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