Introduction
Financial literacy and management are crucial for SACCO members to make informed financial decisions, manage their resources effectively, and achieve their financial goals. This course aims to equip participants with practical skills and knowledge in financial literacy, budgeting, saving, borrowing, and investment.
Duration
5 Days
Target Audience
Members and staff of SACCOs who want to enhance their financial management skills.
Course Outline
Course Objectives
- To improve participants' understanding of financial concepts and terminology.
- To equip participants with practical skills in budgeting, saving, and managing debt.
- To enhance participants' knowledge of investment options and risk management.
- To empower participants to make informed financial decisions.
- To promote financial stability and resilience among SACCO members.
Course Modules
Course Outline
Module 1: Understanding Financial Literacy
- Introduction to financial literacy and its importance.
- Basic financial concepts and terminology.
- Principles of money management.
- Financial goal setting.
- Importance of financial planning.
Module 2: Budgeting Techniques
- Principles of budgeting.
- Creating and managing a personal budget.
- Tools and techniques for effective budgeting.
- Budgeting for savings and investments.
- Case studies and practical exercises.
Module 3: Saving and Investment Strategies
- Importance of saving and types of savings accounts.
- Strategies for building an emergency fund.
- Introduction to investment options (e.g., stocks, bonds, mutual funds).
- Risk and return in investments.
- Long-term financial planning.
Module 4: Managing Debt Responsibly
- Types of debt and their implications.
- Strategies for debt management and repayment.
- Debt consolidation and refinancing options.
- Credit scores and their impact.
- Case studies on debt management.
Module 5: Financial Risk Management
- Identifying financial risks (e.g., inflation, market volatility).
- Strategies for mitigating financial risks.
- Insurance as a risk management tool.
- Emergency preparedness and financial resilience.
- Evaluating and adjusting financial plans.
Related Courses
Course Administration Details
Methodology
These instructor-led training sessions are delivered using a blended learning approach and include presentations, guided practical exercises, web-based tutorials, and group work. Our facilitators are seasoned industry experts with years of experience as professionals and trainers in these fields. All facilitation and course materials are offered in English. Participants should be reasonably proficient in the language.
Accreditation
Upon successful completion of this training, participants will be issued an Indepth Research Institute (IRES) certificate certified by the National Industrial Training Authority (NITA).
Training Venue
The training will be held at IRES Training Centre. The course fee covers the course tuition, training materials, two break refreshments, and lunch. All participants will additionally cater to their travel expenses, visa application, insurance, and other personal expenses.
Accommodation and Airport Transfer
Accommodation and Airport Transfer are arranged upon request. For reservations contact the Training Officer.
Tailor-Made
This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our IRES Training Centre or at a convenient location. For further inquiries, please contact us on:
Payment
Payment should be transferred to the IRES account through a bank on or before the start of the course. Send proof of payment to [email protected]
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