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Financial literacy training empowers beneficiaries
Beneficiaries of NPO, Life Changing Projects in Heatherdale in the north of Pretoria, recently completed a comprehensive financial literacy training programme.
The NPO has provided shelter to the homeless for over a decade.
The beneficiaries, employed through the Expanded Public Works Programme (EPWP), took part in the training programme to enhance their understanding of fundamental financial concepts and terminology.
Project manager Tebogo Mpufane said the transformative effort, spearheaded by a South African investment, savings, insurance, and banking group was designed to equip participants with essential financial skills and knowledge.
“In a world where financial jargon can often be overwhelming, this training sought to explain key terms and principles, making financial management more accessible and less intimidating for all.
“By breaking down complex ideas into manageable components, the training provided a solid foundation for better financial decision-making,” said Mpufane.
He said one of the core components of the training was improving budgeting and expense management skills.
“Most of the beneficiaries abscond their work once they receive payment and this helped them learn practical techniques for creating and maintaining budgets, tracking expenses and identifying areas where savings could be made.
“Increasing awareness of saving and investment opportunities was also another crucial objective of the training.”
He said the programme introduced participants to saving plans and investment options and by understanding these opportunities, they were equipped to grow their wealth and plan for the future.
Beneficiaries were encouraged to develop long-term financial plans and make choices to support their overall financial stability and security.
“The impact of the financial literacy training is already being felt among the beneficiaries and they are now better prepared to manage their finances, plan for the future and achieve their financial goals,” said Mpufane.
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