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GBF IMPACT

Financial Literacy Training at Mankranso in the Ashanti Region

 

Date: January 17, 2025
Location: Mankranso
Trainer: Mr. Nii Lante Lamptey
Participants: 97

Financial Literacy Training

The Financial Literacy Training focused on equipping participants with practical skills to better manage their personal and business finances.

 

The session emphasized three core areas, budgeting, savings, and responsible borrowing. This is necessary to help participants understand how to track expenses, set realistic financial goals, cultivate a consistent savings culture, and avoid high interest or unplanned debts.

These training programs, implemented by the Green Bliss Foundation in collaboration with Tropenboss.

FINANCIAL LITERACY: A Guide for Smallholder Farmers on Saving, Getting Credit, and Managing Money for Better Livelihoods

Excerpts from our 12-page training Manual

Financial literacy is the ability to understand how money works and how to manage it wisely. It empowers you to make informed decisions about saving, spending, investing, and borrowing


Why It Matters: Being financially literate means, you can manage your money effectively today and plan for a secure future tomorrow. You’ll have the tools to make smart choices and avoid common financial mistakes. ...

What is Money?
Money is anything that people take in exchange for goods and services, whether from your employment, business, or as a gift. This is your way to financial freedom.


What is Budgeting?
A budget is like a plan showing your finances. It helps you track how much you earn, spend, and save, ensuring you don’t spend more than you earn. ...

Why Save Money?
Saving means setting aside money for future needs, like emergencies, big purchases, or retirement. It helps you avoid debt and be prepared for unexpected costs.

To save money, start small, keep it in a safe place, and save a portion before spending on anything else. ...

Why Use a Bank?
Banks keep your money safe from theft and make it easy to deposit and withdraw whenever you need it. Some accounts also let you earn money on the savings you keep in the bank.

Agricultural banks can help farmers grow not just crops, but also their savings with special accounts that earns with interest.

Participants also learned how to make effective use of banking and mobile money services to support their businesses. Through relatable case studies and hands-on exercises, the training simplified financial concepts and empowered attendees to make informed money decisions.

Many participants expressed newfound confidence, noting that the lessons would help them reduce wasteful spending, improve savings discipline, and build stronger financial futures for their households and enterprises.

Feedback from the session

Feedback showed deep appreciation for the relevance and simplicity of the lessons:

I have realized that I can save more than I thought. My spending was the problem, not my income.” ANNA POKUAA, Kansakrom.

I now understand how loans work. Before, I just borrowed without planning. This training will change my business.” GIFTY NIMAKO, Atwima Takoradi.

Participants took immediate steps such as:

Several participants took immediate steps such as:

• Starting weekly savings
• Using budgeting sheets at home
• Visiting banks for inquiries about savings products
• Reviewing their existing loans for restructuring
• Teaching basic budgeting to their children or household members.

These early actions illustrate the immediate impact of the training.

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