Within the framework of the project titled “Smart Budget”, being implemented by the Junior Achievement Azerbaijan and funded by the Youth Fund, a training program on financial literacy for the youth was conducted during November and December 2019 in Baku. The main objective of the training was to improve the financial literacy knowledge and skills of the youth.
The Project implemented in cooperation with the Ministry of Education of Azerbaijan Republic has involved 314 youth, aged between 14 and 16 years old, from 10 educational institutions, located in Sabail, Yasamal, Nasimi, Narimanov, Sabunchu, Garadagh, Binagadi, Khatai, Nizami, Khazar districts.
The participants were provided with the “Smart Budget” textbooks and, subsequently, got acquainted with the relevant concepts, such as budget planning, budget control, profit, expenses, savings and efficiencies. Also, during the training program, the youth played “Balance Break Even or Broke”-an interactive game on budgeting money, which helped them to improve their practical skills on the establishment of personal expenses plan and creating a personal budget.
Being aware of financial literacy skills and understanding the budget, which is the main criterion of Sustainable Development, has a positive impact on their future life achievements. Our main goal here with the partners is to involve as many youths as possible for the financial literacy program.
In addition, the youth will participate in a Poster Competition assigned for the next phase of the project.