Session 2: Benefit of saving

Objective:

  • To understand the benefit and importance of saving.
  • To understand basic methods of saving.
  • To establish saving goals tied to life course events.

Activities:

  1. Introduction: Ask participants whether they are saving for a specific purpose. Refer to previous sessions, i.e. how much a particular type of life event cost and the need for preparation.
  2. Benefit of saving: Ask participants to list the purposes for saving and to discuss the benefits of each purpose. The facilitator guides participants and summarises savings benefits. 
  3. Method/Mode of saving: Ask participants to list available method/mode of saving, along with its advantages and disadvantages.
  4. Individual work (Goal setting): Ask participants to set individual savings goals with priority. Record on a sheet of paper the saving purpose, amount, duration, method, and amount to be saved for the week/month/year. In a coin purse that they created, they should place a piece of paper that lists the highest priority saving goal.
  5. Saving tips: Participants will be informed on money-saving strategies (e.g. save before spending, cut unnecessary expenses, reallocate budget, increase income).
  6. Assignment during coaching; Ask participants to fill the form for saving in the “Boond Boond Darya”. Utilise a calculator to complete the required weekly/monthly/yearly savings column. 

Duration: Total 55 minutes

  • Introduction (5 mins)
  • Development -Benefit of saving, Mode of saving, Individual work, Saving tips (45 mins)
  • Conclusion (5 mins)

Training materials