Financial Literacy Program equips youth with the knowledge of the concepts of money, income, earning, saving, spending, investing, budgeting, credit/borrowing risks. Overall, the program aims at empowering young people to make smart financial decisions for their future. For this purpose, various study material prepared by JAA, training programs, and seminars are conducted. The financial literacy program is delivered in the combination of the entrepreneurship program.
The projects under this program are:
School of Finance for Kids
School of Finance for Kids – The aim of this project is to show the importance of financial literacy and give a direction on efficient spending of money. This activity is conducted with the help of entertaining and interactive ways. It includes the preparation of educating videos in which experts will be involved. JA Azerbaijan also compiled an illustrated and easy reader “My Budget” book especially for children from regions who do not have access to the Internet. The MMST online portal is the part of this project and has been created specifically for parents who would like to increase their children’s financial literacy. In order to enter the portal, please, click the link: MMST Online Portal
Smart budget
This project is implemented with the help of the training sessions. These sessions target promoting financial literacy through a budgeting game, such as “Balance Break even or Broke” and raise the knowledge and abilities of youth at age 14-15 in this field. In the framework of the project, students gain an opportunity to acquire necessary theoretical knowledge and practical skills for managing monetary and other financial resources.
Financial Literacy Training for Youth
The overall objective of the training sessions is to equip youth at age 18-25 with financial literacy and practical money skills. Through the finance workshops, participants will understand the importance of financial choices and saving money; spending money wisely through budgeting; investing money; using credit cautiously; and protecting personal finances. The brilliant examples of these training sessions were those held in Khachmaz, Salyan, Kurdamir and Ganja. The three days program includes 3 Modules:
Module I: Introduction to finance; earning, spending and saving; smart budgeting;
Module II: Bank and Banking Services; Loans and Credits; Online payments and digital Banking;
Module III: Ensuring the financial security for the future; Insurance and Investment.