Financial Literacy Training Report: Trinity Credit’s Training for Safe Spaces Organization’s Awesome Blossoms Project in Mathare
Introduction: Trinity Credit conducted a comprehensive financial literacy training program for the women participating in Safe Spaces Organization’s Awesome Blossoms Project. The training aimed to empower marginalized women from the Mathare community with essential financial skills and knowledge. The training was held over a span of two days at the Mathare Social Hall.
Training Overview: The financial literacy training covered various topics to equip the participants with practical tools for managing
their finances effectively and which they can also use in managing the community farm. The program included interactive sessions, group discussions and hands-on activities to ensure engagement and understanding. Watch a video of the training session here.
Training Sessions: The following topics were covered during the training:
- Basic Budgeting and Money Management:
- Participants learned to understand their income and expenses.
- They were introduced to creating simple budgets tailored to their individual circumstances.
- Techniques for tracking daily expenditures and differentiating between needs and wants were discussed.
- Savings and Emergency Funds:
- The importance of saving for future needs was emphasized.
- Participants were guided on setting achievable savings goals.
- Strategies to save even with limited income were explored, and the concept of creating an emergency fund was introduced.
- Banking and Financial Services:
- The participants were encouraged to explore small business ideas.
- Introduction to micro-enterprises and self-employment was provided.
- Basics of marketing and selling products/services were discussed, along with managing income from informal businesses.
- Understanding Credit:
- Participants gained insight into the concept of credit and its significance.
- Building a positive credit history, responsible credit use, and avoiding common credit pitfalls were covered.
- Investment and Asset Building:
- Setting both short-term and long-term financial goals was discussed.
- Participants learned to create practical plans to achieve their goals and were educated on monitoring their progress and making necessary adjustments.
- Social and Community Support:
- The importance of building support networks within the community was highlighted.
- Participants were encouraged to share financial knowledge and experiences and to explore collaborative approaches to addressing financial challenges.
- Digital Financial Literacy:
- Basic digital literacy skills were imparted to enable participants to engage in online banking and transactions.
- Safety measures for conducting online financial activities were discussed to ensure their security.
Assessment and Certification: At the conclusion of the training, an assessment was conducted to gauge participants’ understanding of the covered topics. This evaluation aimed to determine the effectiveness of the training and identify areas where participants might need further support.
Future Evaluation: Trinity Credit plans to continue its involvement by conducting an evaluation three months after the training. This follow-up assessment will help assess the participants’ progress and address any challenges they might have encountered while implementing the knowledge gained.
Conclusion: The financial literacy training conducted by Trinity Credit for the women participating in Safe Spaces Organization’s Awesome Blossoms Project in Mathare was a step towards empowering these marginalized women with practical financial skills. The training provided them with tools and knowledge to make informed financial decisions, manage their resources effectively, and work towards a more secure and prosperous future.
