The Centre for Excellence in Financial Inclusion
Papua New Guinea

Microfinance Expansion Project : Financial Education Training


Financial Education Training is one of the biggest outputs in this Microfinance Expansion Project. The aim of this output is to empower and enable clients and potential clients understand and know how to access, financial services for personal or business use.

It has a target to reach 130,000 people, of which 40% are women. Microfinance Expansion Project has partnered with 9 partners to deliver financial education training to the mass population and achieve the proposed target.

Financial Education Modules

Savings

Savings is money put aside by you for future use. It can be hidden under the bed, lent to your family, deposited it in the bank or invested in an asset like livestock. This course teaches you how to save up easily to help you better manage risk, deal with emergencies, build assets and meet financial goals.

After attending the course you will be able to:

  • Set savings goals
  • Increase your savings
  • Cope with emergencies better with your emergency fund
  • Select the right savings options for yourself by comparing different options available
  • Make and use a savings plan
  • Decide if you want to use insurance as an option to manage your risk

Budgeting

A budget is a simple tool that everyone can use as a road map to asses where you are now to a financial goal in the future. Financial goals includes getting out of debt, paying school fees on time, or save for expected needs etc. This course teaches everything you need to know about household budgeting.

After attending the course you will be able to:

  • Set your financial goals
  • Make a budget
  • Track your income and expenses using simple tools
  • Stay well within the budget you make
  • Keep records to manage your money better

Debt Management

When we have limited resources, we have to look for external sources of funds. Debt is when you borrow money on certain terms and conditions of repaying it. Debt often leads to trouble if not managed properly. This course teaches how to handle debt successfully.

After attending the course you will be able to:

  • Identify the responsibility associate with taking a loan
  • Identify the various costs associated with borrowing
  • Identify the right source and calculate the ability to borrow based on current income and expenses
  • Identify steps to avoid delinquency
  • Recognize behaviour that leads to over-indebtedness and default
  • Learn how to get out of a debt situation
  • Develop a repayment calendar charting loan payments due

Banking Services

Banks have taken interest in financial inclusion and now have a wide range of products and services on offer for the savings, loans, insurance, remittance, pension, bill payments etc. This course teaches you how to choose or select from different financial services provided by the banks.

After attending the course you will be able to:

  • Identify all sources of financial services - formal or informal
  • Appreciate the difference between saving at home and saving with a financial institution
  • Choose the right product and services for yourself to match your need
  • Use the financial services that you can access

Financial Negotiations

Negotiation is the way people try to get the best deal for themselves. It is between parties which have overlapping interest. This course helps you to solve financial issues with win-win results.

After attending the course you will be able to:

  • Understand different situations for financial negotiations
  • Prepare yourself well for a financial negation
  • List good and not so good negotiating techniques
  • Identify techniques to be used in a verbal negotiation
  • Negotiate better to arrive at a win-win situation

Mobile Money

Assessing financial service through your mobile phone can be convenient than having a financial institution you can save, assess your loans, pay bills, etc, all through your mobile phone and its safe. This course, will help you take advantage of all the mobile money initiatives that is being made available in Papua New Guinea (PNG) by different financial institutions.

After attending the course you will be able to:

  • Define and understand what Mobile Money is all about
  • Appreciate the advantage of Mobile Money over cash or manual transactions
  • Practice hoe Mobile Money works
  • Know all about Mobile Money servicers available in the country
  • Identify the Mobile Money product that suits your needs