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Explore innovative ways to promote financial capability in young individuals through remote savings mobilization using handheld printers and smartphones. Encourage savings habits by suggesting simple strategies like setting aside daily change or redirecting spending on treats toward long-term goals. Teach budgeting skills for better income and expenses management, leading to increased savings potential.
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Using Technology to • Promote the Financial Capability of Young People • 2013 Global Youth Economic Opportunities Conference
Remote Savings Mobilization Young person provides ID and amount to be deposited Handheld printer prints out a receipt of the deposit for the youth and the agent Agent verifies information and enters data remotely through a SmartPhone
Text Messaging • You don’t have money to save? Put aside 25 cents per day and the end of the week you’ll have $1.50. • How much do you spend on soda and candy? A lot! Save that money and buy yourself something special in six months! • Make a monthly budget to manage your income and expenses. And you’ll find out how much you can save.