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25 April 2019 Talk: Financial Literacy and Low-Income Women, by AIDHA and Daughters of Tomorrow
April 16th, 2019 | Events, News, Poverty and Inequality
The low-income community in Singapore is currently being assisted by the state through hand-outs in the form of short- and long-term financial assistance schemes. In 2013, the annual ComCare Short and Medium Term Assistance was provided to 25,956 households in Singapore. They also received support such as food rations from various well-meaning charitable groups.
There are a significant number of families from this pool in Singapore who are experiencing cross-generational poverty, with little support to help them gain the skills and knowledge to break out of the poverty cycle. One of the key barriers that has been identified is a lack of financial literacy.
To address this gap, AIDHA and Daughters of Tomorrow (DOT) collaborated on a financial literacy programme for low-income women in early 2018. Combining the strengths of each organisation—AIDHA with their experience in the delivery of financial literacy content, and DOT with their knowledge and understanding of the lives and challenges facing women from low-income communities—they developed a curriculum and conducted a 10-session workshop.
The programme covered essential skills, such as organising finances, budgeting and saving. It also discussed taking action to reduce possible debt, creating more stable income, establishing a rainy day fund and involving their families in these efforts. It also incorporated incentive mechanisms in the form of a Savings Match to further support participants in their saving habit formation.
Now that the first run of the workshop has been completed, join AIDHA and DOT as they share more about their workshop, their successes and learning points. They will also discuss more about their Savings Match component.
Date: 25 April 2019 (Thursday)
Time: 7pm – 9pm
Venue: AWARE Centre (5 Dover Crescent #01-22, S130005)
Refreshments will be provided.
About the organisations:
AIDHA is an organisation that empowers and provides opportunities for foreign domestic workers and lower-income women to transform their lives through sustainable wealth creation.
Daughters of Tomorrow (DOT) facilitates livelihood opportunities for underprivileged women and supports them in building and sustaining financially independent and resilient families.