Empowering Financial Literacy : Insights from the Saving Game Simulation Training
Written By Admin Published on December 6, 2023

Rwanda institute of Cooperatives, Entrepreneurship and Microfinance (RICEM) in partnership with Banks Foundation for International Cooperation (DSIK) organized a training program aimed to enhance financial education and skills among support staff from RICEM and DSIK. This three-day training, held at RICEM, focused on crucial aspects of earning, spending, budgeting, and borrowing to empower participants in making informed financial decisions.

The training adopted a participatory adult-learning approach, combining theory and practical sessions. The first day covered the theoretical aspects of the Saving Game, while the following two days delved into hands-on simulation exercises. The goal was to equip participants with essential skills for managing personal and household budgets effectively.

Twenty participants, comprising 13 men and 7 women, attended the training with expectations ranging from learning how to save effectively to understanding the benefits of saving. The participants expressed a desire to determine the percentage of income suitable for savings per month.

The training had general objectives, including supporting participants in making better financial decisions, enabling them to reach their financial goals, promoting economic decision-making capacity within households, and ultimately improving the quality of life for participants and their families.

Conducted in six groups, participants engaged in three rounds of the Savings Game Simulation. The highly interactive training allowed participants to jointly run a business, making decisions and reflecting on real-life situations. Trainers facilitated the process, providing feedback after each round and supplementing practical knowledge with relevant background information.

The training successfully equipped participants with knowledge on planning income and costs, savings and loans, and the role of financial institutions in decision-making.

Through the Saving Game Simulation, participants not only learned practical management skills but also reflected on their own business practices. The ultimate achievement was the realization that applying learned lessons could lead to successful business management and an improved quality of life.

In conclusion, the Saving Game Simulation training stands as a testament to the commitment of RICEM to empower individuals with the financial knowledge needed for sustainable growth and improved livelihoods.