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FINANCIAL LITERACY PROGRAM A THREE-YEAR GROWTH STRATEGY Grace Baranowski ACCESS Development Services

ACCESS Financial Literacy Program Proposal

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A three-year growth strategy for a financial literacy program created for ACCESS Development Services\' Sakh se Vikas livelihoods project. ACCESS has organized ginger farmers into a producer company, yet the farmers require numeracy training to eventually manage this venture.

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Page 1: ACCESS Financial Literacy Program Proposal

FINANCIAL LITERACY PROGRAMA THREE-YEAR GROWTH STRATEGY

Grace BaranowskiACCESS Development Services

Page 2: ACCESS Financial Literacy Program Proposal

Overview of Workshop Content Credit linkage strategies Numeracy Addition, subtraction, multiplication,

division Symbol budget Teaching skills

Page 3: ACCESS Financial Literacy Program Proposal

Why does ACCESS need this? ACCESS has developed advanced

agricultural practices to increase ginger yield.

ACCESS expects farmers to manage their own Producer Company in the future.

Yet this requires financial skills that the farmers lack.

Page 4: ACCESS Financial Literacy Program Proposal

The members and directors of the PC are the ginger farmers themselves.

Page 5: ACCESS Financial Literacy Program Proposal

Review of Pilot WorkshopJuly 5, 14, 15

Page 6: ACCESS Financial Literacy Program Proposal

Pilot Program Overview

8 women from 4 SHGs

5 consecutive days One lesson per day Carefully planned

curriculum

12 women, 6 SHGs 3 nonconsecutive

days Consolidated

lessons Workshop as much

a class as a laboratory

Original Plan Actual

Page 7: ACCESS Financial Literacy Program Proposal

July 5 – Credit Linkage Strategies

4 banker-borrower skits: women council the banker whether or not to grant the loan to the borrower

Assemble credit linkage necklaces

Page 8: ACCESS Financial Literacy Program Proposal

To test comprehension and build confidence, I asked for a volunteer to explain the lesson to the teacher.

Page 9: ACCESS Financial Literacy Program Proposal

July 14 – Numeracy and Arithmetic

Introduced number system with Snakes and Ladders

Reviewed numbers on chalkboard

Completed basic arithmetic exercises with seeds and cardboard cartons

Page 10: ACCESS Financial Literacy Program Proposal

In spite of little prior experience, the women learned quickly and helped each other.

Page 11: ACCESS Financial Literacy Program Proposal

July 15 – Budget and Teaching Skills Reviewed number system and basic

arithmetic. Introduced symbol-based budget. Discussed techniques for teaching peers.

Page 12: ACCESS Financial Literacy Program Proposal

Symbol Budget

Food Clothing Transportation Medicine Education Festivals/Weddings Livestock  Housing Costs

Page 13: ACCESS Financial Literacy Program Proposal

The women demonstrated teaching skills by presenting budget examples to the class.

Page 14: ACCESS Financial Literacy Program Proposal

Total Reach of Pilot Program

Represented Self Help Groups (SHGs)

Number of Members

Ambika 15

Avri Mata 18

Durga 20

Lakshmi 18

Parvati 12

Satnam 12

Total 95

Page 15: ACCESS Financial Literacy Program Proposal

How to Complete Pilot Program1. Train 8 partner NGO staff members.2. Partner NGOs meet once with the SHG

leaders to reinforce workshop lessons and schedule the next stage of lessons.

3. The 12 leaders of the 6 SHGs teach their 83 peers in 6 separate workshops in the villages.

Page 16: ACCESS Financial Literacy Program Proposal

Schedule for Tier I and NGO TrainingsTime Activity

11 – 2 pm Lesson 1 (credit linkage)

2 – 2:30 pm Lunch

2:30 – 5:30 pm Lessons 2-4 (numeracy and arithmetic)

5:30 – 5:45 pm Chai

5:45 – 7:45 pm Lessons 5-6 (multiplication and division)

7:45 – 8:15 pm Dinner

Participants stay overnight Lodging at partner NGO office space.

9 – 11:30 am Lesson 7 (symbol budget)

11:30 – 11:45 am Chai

11:45 – 2:30 pm Lesson 8 (teaching skills)

2:30 – 3 pm Lunch

Page 17: ACCESS Financial Literacy Program Proposal

Quantitative Evaluation Strategies How many participants have

discontinued lending from unsafe venders 3 months after the workshop?

How many participants can correctly complete the basic math that the budget booklet requires?

How many of the participants are still using their personal budget 3 months after the workshop?

Page 18: ACCESS Financial Literacy Program Proposal

Growth Strategy

Tier I refers to the training of SHG leaders.

Tier II refers to the SHG leaders training peers.

Page 19: ACCESS Financial Literacy Program Proposal

Three-Year Participant Breakdown

Year of Project 0 I II III

Targeted SHG Leaders (2 per Group)

12 62 62 64

Targeted SHG Groups 6 31 31 32

Targeted SHG Peers 83 248 248 250

Total Trained 95 310 310 320

Progressive Total Members 95 405 715 1035

Progressive Total Groups 6 37 68 100

Page 20: ACCESS Financial Literacy Program Proposal

Participant Benefits

Avoid losing money to the village moneylender or other unsafe lending options.

Knowing one’s income prevents unnecessary spending.

Participants said keeping a budget would keep them from getting cheated.

If each participant is in contact with 3 families, each containing 12 people, one person could transfer information to 54 people.

Page 21: ACCESS Financial Literacy Program Proposal

Cost of Program

Total cost of program is under Rs.215,000.

Cost per participant is about Rs.213.

Year of Project

0 I II III

Cost per Year

17,259.25 65,800 65,800 65,800

Progressive Cost Total

17,259.25 83,059.25 148,859.25 214,659.25

Page 22: ACCESS Financial Literacy Program Proposal

Future Growth – Gender Relations Originally composed for an all-female

audience – female literacy rate less than a third that of men.

The SHG ratio is currently 80/20 male/female.

Encourage participants to consider questions of gender roles throughout workshop.

Push for a quota of female PC directors.

Page 23: ACCESS Financial Literacy Program Proposal

Future Growth – Math Education Math can only be introduced in a matter of

days. Partner NGOs will incorporate math lessons

into monthly meetings and check that participants have kept their symbol budgets.

One partner NGO has already agreed to have participants keep their own SHG records.

Partner NGOs will also encourage participants to play math games on their own.

Page 24: ACCESS Financial Literacy Program Proposal

Future PC sustainability requires this project.

Without financial skills, the farmers won’t be able to manage the PC business operations.

This program also addresses the education gap between men and women.

Low cost brings high impact.

Page 25: ACCESS Financial Literacy Program Proposal

Thank you!