What is Global Money Week (GMW)?

Global Money Week (GMW) is a money awareness celebration. The goal is to teach children and youth about money, saving, creating livelihoods, gaining employment and becoming an entrepreneur through fun and interactive activities. Every year, different communities take action to create awareness, challenge out of date financial policies and give young people the tools and inspiration they need to shape their own future. GMW takes place annually, during the second week of March. The events are organized by schools, universities, government ministries, central banks, financial institutions, members of the civil society and youth worldwide. GMW is initiated and coordinated by Child and Youth Finance International (CYFI).

Child and Youth Finance International (CYFI) is a global multi-sectoral network of organizations and individuals who are working towards economically empowering children and youth through financial inclusion, financial education, and livelihoods training. Through this global network of partners, CYFI aims to reach 100 million children and youth in 100 countries through high quality financial, social and livelihoods education and safe, reliable financial products by the end of 2015.

 

How has previous Global Money Week outreaches fared?

See how Global Money Weeks in previous years have fared:

• 2015 – 5.6 million children & youth, 124 countries, 962 organizations, over 3000 activities
• 2014 – 3 million children & youth, 118 countries, 490 organizations, over 2000 activities
• 2013 – 1 million children & youth, 80 countries, 400 organizations
• 2012 – 33 000 children & youth, 21 countries (Child Finance Day/Week)

 

What’s happening in 2016?

2016 marks the 5^th anniversary of Global Money Week and the theme is ‘Take Part. Save Smart’.

 

Why save smart?

Because it is important for children and youth to build clever cost-careful habits from an early age in order to avoid financial exclusion and develop key money managing skills for later in life. Taking part in smart saving today offers a safer tomorrow; but how can we achieve this? Empower children and youth!

 

Reasons why we are participating in the Global Money Week

A research in the United States with a survey list of 100 people at 25 on a career path till 65 showed that at 65 years, 54% are dependent, 16% are still working, 24% are dead, 5% are Independent and only 1% is Free. The numbers in Nigeria are not any better as financial intelligence is missing from our school curriculum and society at large but it’s what we spend the most part of our lives pursuing…”how to be financially free!”. Our children learn everything in school from Mathematics to English to Social Studies to Science but never get the opportunity to learn fundamental money lessons to help them navigate the real financial world. Financial intelligence is also not taught at home as many parents are uncomfortable with teaching their children money management because they lack the confidence in their own financial knowledge too.

Therefore, children need to be taught how to handle money while they are young, so that they’ll avoid costly mistakes later in their lives. Teaching them offers them the opportunity to develop a life time skill that they will always use especially with regards to how to make money, manage (save, share and spend) it and invest it, thereby working towards financial freedom.

See details of our activities for the week below:

 

Tuesday, 15 March 2016 (5pm – 6pm, GMT+1):

Tweet meet on @eaddakids timeline to discuss “What’s so special about saving?”

 

Wednesday, 16 March 2016 (5pm – 6pm, GMT+1):

Tweet meet on @eaddakids timeline to discuss “Tips on how to teach children to save money”

 

Thursday, 17 March 2016 (5pm – 6pm, GMT+1):

Tweet meet on @eaddakids timeline to discuss “Can my preschooler save?”

 

Friday, 18 March 2016 (5pm – 6pm, GMT+1):

Tweet meet on @eaddakids timeline to discuss “Safe Savings is Smart Saving”

 

Saturday, 19 March 2016 (5pm – 6pm, GMT+1):

Tweet meet on @eaddakids timeline to discuss “The Other options for money other than spending”

 

Sunday, 20 March 2016: (5pm – 7pm, GMT+1):

Interactive financial literacy class for children (5-12 years)

 

We will be tweeting using the event hash-tags (#TakePartSaveSmart, #GMW2016 and #GlobalMoneyWeek). To participate or follow the conversation, search for the named hash-tags or follow @eaddakids and @gbonjute.

Have a blissful week!

– Gbonjubola Sanni