Loan expenses include money that you have borrowed and are expected to repay. This might be money from your neighbors, family members, savings group or a bank. Savings money will help you in the future to buy the things that you and your family need and want. You can also be prepared for unexpected events, such as illness or natural disasters. In addition, savings can help you meet your future goals. When deciding where to keep your savings, think of a place that is safe. Also, think of a place which would not tempt you to use it, but where you can get it when needed. For more information on savings, review lessons 6-8. 8. Activity: Prioritizing Spending– 30 minutes On the last page of the flipchart we discussed family needs and family wants. What is the difference between a NEED and something you WANT or desire? Add any of the following that are not mentioned: Things that you need help to keep you alive from one day to the next. We need food, water and a shelter over our head or stay alive. Things we want or desire may help us to be happier, but are not needed to say alive from one day to the next. Ask the group to list things a typical family would buy in a week. After 10-12 things are listed, assign each woman in the group one of the listed items. Examples might include medicine, clothing, food, transportation, shoes, alcohol, school fees, loans, chlorine (or other water purification tablets). Ask the women to group themselves into two groups. All the women who think the item they have been assigned is a NEED should stand in one group. All the women who think the thing they have been assigned is a WANT or DESIRE to stand in another group. There may be different interpretations of what is a NEED and a WANT. However, let the group decide by themselves. Then ask the women to rank the needs and rank the desires in order. This the needs make one row with the first person being the MOST IMPORTANT NEED, followed by the second most important need, followed by the third, etc.
Loan expenses include money that you have borrowed and are expected to repay. This might be money from your neighbors, family members, savings group or a bank. Savings money will help you in the future to buy the things that you and your family need and want. You can also be prepared for unexpected events, such as illness or natural disasters. In addition, savings can help you meet your future goals. When deciding where to keep your savings, think of a place that is safe. Also, think of a place which would not tempt you to use it, but where you can get it when needed. For more information on savings, review lessons 6-8. 8. Activity: Prioritizing Spending– 30 minutes On the last page of the flipchart we discussed family needs and family wants. What is the difference between a NEED and something you WANT or desire? Add any of the following that are not mentioned: Things that you need help to keep you alive from one day to the next. We need food, water and a shelter over our head or stay alive. Things we want or desire may help us to be happier, but are not needed to say alive from one day to the next. Ask the group to list things a typical family would buy in a week. After 10-12 things are listed, assign each woman in the group one of the listed items. Examples might include medicine, clothing, food, transportation, shoes, alcohol, school fees, loans, chlorine (or other water purification tablets). Ask the women to group themselves into two groups. All the women who think the item they have been assigned is a NEED should stand in one group. All the women who think the thing they have been assigned is a WANT or DESIRE to stand in another group. There may be different interpretations of what is a NEED and a WANT. However, let the group decide by themselves. Then ask the women to rank the needs and rank the desires in order. This the needs make one row with the first person being the MOST IMPORTANT NEED, followed by the second most important need, followed by the third, etc.
2012-MYAP-Mod-9-Money-ENG-LPlan-9-Oct-Rvsd.docx