Bridging the Financial Literacy Gap: Working in Partnership With Credit Suisse for Inclusive Financial Education
As access to financial services increases among young people, so do gaps in financial literacy and the ability to make everyday decisions regarding their finances. These gaps are even wider for vulnerable populations, including girls, who already face significant social and economic barriers.
To participate in and contribute to the world in which they live, students will need to be equipped with the knowledge, skills, and mindsets to make informed decisions and engage in the broader social and economic aspects of society. This includes understanding the fundamental elements of the financial world, such as how to save and spend money and how to manage and use financial products. Equally important for students is the development of a growth mindset and the motivation for lifelong learning and problem-solving.
Teach For All Joins Credit Suisse’s Financial Education Initiative
Teach For All network organizations are well-positioned to meet this growing need by providing quality financial education through increased access to resources, curriculum, mentoring, and more in the communities where they work.
Credit Suisse has played an integral role in the growth and development of Teach For All’s global organization and network for the last 13 years, and we’re excited to announce their latest commitment to support financial education implementation for three network partners. As part of Credit Suisse’s Financial Education Initiative, this program will directly impact more than 200 teachers and 10,500 girls across Cambodia, Colombia, and Uganda, accelerating progress towards Teach For All’s vision to ensure all children have the education, support, and opportunity to shape a better future.
With Credit Suisse’s support, Teach For Cambodia has launched a financial education program that aims to build the confidence and knowledge of 4,700 girls by 2024 in budgeting, saving, evaluating risk and reward, and negotiation so that they can solve real-world problems for themselves and their families. Teach For Cambodia has prioritized using underutilized classroom time or spaces for girls to openly discuss and process what they’re learning. With a focus on training and supporting teachers to be knowledgeable and passionate role models and mentors outside of instruction hours, Teach For Cambodia and Credit Suisse are making an impact on young girls through this program, building their confidence and ability to apply financial skills to real-world challenges.
This year, Teach For Cambodia has focused not only on the development and implementation of high-quality curriculum and content from Credit Suisse’s financial education partner, Aflatoun International, but also on ensuring the resources were relevant from a gender lens. Together they will train 10 teachers to deliver a 34-hour program to 200 girls in after-school clubs about spending, saving, and entrepreneurship. With the momentum and confidence built from their first year, Teach For Cambodia plans to engage with educators, industry leaders, teachers, and parents to ensure the curriculum is adopted by the system and delivered by teachers in more schools in 2023.
Enseña por Colombia is focused on building a long-term, sustainable financial education model in partnership with Credit Suisse. Through an integrated approach, Enseña por Colombia is training 17 teachers to deliver 20 hours of financial education through a gender lens in 15 schools throughout nine municipalities. Leveraging the Aflatoun curriculum, Enseña por Colombia teachers are providing students with relevant lessons to develop their understanding of the relationship between finances and gender. Through this approach, they will be able to impact more than 1,000 girls in the first year of their financial education program and nearly 2,200 girls by 2024.
Enseña por Colombia was also able to leverage their A prender la Onda radio initiative, which is led by a group of Enseña por Colombia teachers, alumni, and other educators, to support learning in regions with low internet connectivity. Last year, they produced four episodes focused on financial education and they hope to continue providing financial education programming in the years ahead.
Teach For Uganda is partnering with Credit Suisse to deliver financial education content in school clubs, which are part of the school day in Uganda, and offer students the opportunity to deepen their knowledge of extracurricular topics. By integrating targeted content into the school day, they hope to attract and retain girls in school, building their leadership and confidence in key financial practices. This partnership and programming promotes peer-to-peer learning to deepen understanding of key financial literacy skills, including savings, business and records management, and the allocation, prioritization, and mobilization of financial resources.
During the first year of the three-year program, Teach For Uganda will provide core skills training for program and support staff and initial financial education training for teachers, reaching 5,050 girls over three years. Next year, Teach For Uganda is hoping to identify and bridge knowledge gaps among girls and ensure that the girls who have participated in the clubs are practicing their skills in various enrichment activities.
The Future of Work
Teach For All’s partnership with Credit Suisse is part of Teach For All’s broader Future of Work Initiative, which aims to prepare students for the world of work and to tackle the future’s most pressing global and local challenges. Now, more than ever, we need to ensure that all children are accessing the education, support, and opportunity to grow as leaders, equipped with the knowledge, skills, and connections to navigate their world and lead it. This financial education programming will play a pivotal role in equipping students, especially girls, with the tools they need to make informed decisions about their future.
To get involved in our Future of Work Initiative, please reach out to Pablo Millanes.