Youth in the Americas Embrace Finance Education

By Graeme Thompson, ChildFund Americas Regional Program Coordinator

Is saving even possible in rural, poor communities? That was a question a lot of people asked when the Aflateen program began in ChildFund’s Honduras and Ecuador operations last year. The answer, from the youth themselves, has been a resounding and, perhaps surprising to some, “yes.”

Youth

Two youth in ChildFund’s Honduras programs.

Aflateen is a global methodology for introducing social and financial education to youth, ages 14 to 24, and the program is a follow-on from the popular Aflatoun, which reaches children ages 7 to 13. ChildFund offices in Ecuador and Honduras had been working with Aflatoun, so they agreed to pilot the new Aflateen program in 2011.

“It’s an issue we’ve never had before,” recalled one youth participant attending a workshop in Santa Barbara, Honduras. “We’re not taught about these things in school.”

“I learned to spend my money on what was really useful and not just to waste it,” said another participant.

In one activity, youth participants each fill out a chart, identifying money they can earn in a month and what they think they can save. Then they write down the cost of something they want – new shoes, a phone, a month at university. The chart then helps them easily see how much time they will need to save for that item. Saving is difficult, but the youth discover that even very high-cost items are reachable with a good savings plan.

In Honduras, 30 youth went through the program, spending three hours in class every other Saturday. They were led by five of their peers, who studied the teaching guide and revised the activities to suit the local context. The program includes modules on personal exploration, rights and responsibilities, savings and spending. As a capstone, the youth design, implement and, if necessary, raise money for a small community project.

In Ecuador, youth participated in a high-school-based version of the program. Additionally, a radio broadcast version reached hundreds of youth who live in outlying areas. Beyond financial topics, the radio program introduced themes like first relationships, personal self-image and friendships. The show also offered a hotline number so that youth could call in and ask questions.

Youth like the Aflateen program because it’s highly participatory and is tuned to their local experiences and realities. Given the success of the pilots, both Honduras and Ecuador are expanding their programs in the coming year.

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