On a bright Sunday afternoon in June 2019, Nary* sat down for a new class. It was on a subject she had no knowledge of but was interested in. Her curiosity was piqued when she heard about the workshop from one of ISF’s Employment Programme staff. He noticed Nary often spent her money frivolously and thought she could benefit from the course. The half day training session provided by the Prudence Foundation is called Cha-Ching. Its aim is to teach financial literacy to youth and their families.

While Nary lives in Cambodia’s capital city now, she wasn’t born in Phnom Penh. She, her mother, and two other siblings moved to the city in 2015 from Kandal province. Kandal surrounds the capital like the meat of a bisected avocado and is rich in agriculture. Though its 21% poverty rate (IDPoor Atlas, 2020) means many travel to Phnom Penh in search of a better life. Though lacking an education or skills, her mother found it difficult to make a living in the city. Nary’s mother now works as a scavenger, rummaging through the city’s waste to find anything still valuable enough to sell. The small amount of money she earns barely covers rent, food and clothes for her three children, so teaching financial literacy or planning is low on the list of their priorities.

Follow us on Facebook

Join us on our journey to provide opportunities for sport to over 3,500 underprivileged Cambodian children, as well as education, healthcare and nutrition to another 700.

Like our Facebook page to share in our successes, hear about events and find out how you can help these vulnerable youth.

Recognising Nary’s situation and observing how she spent her money led us to believe that her financial practices would improve from Cha-Ching’s lessons. The four-hour class introduced the 16-year-old to the fundamental money management concepts of Earn, Save, Spend and Donate. Those concepts struck a chord with Nary; she found them to be very practical and applicable to her everyday life.

After the course, Nary has learnt to manage her money better and tried to cut down expenses by spending only on necessities. She has also started saving the money she earns from a partime job at a café near her home. Sometimes she shares those savings with her family to help cover household expenses. “This course was very important to me,” the teenager beams “because it encouraged me to start saving and spending wisely.” Thinking of how her newfound financial acumen can help her in the near future she says, “When I save up, I can help cover some of my family’s expenses. For example, helping with medical costs for a sick family member. I also share these important knowledge and skills with my mother and younger siblings too.”

*Names of children under 18 years old have been changed to protect their privacy.