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IDF Eurasia in Kazakhstan summed up the results of the first cycle of financial literacy workshops
16 December 2020

The IDF Eurasia group in Kazakhstan (Solva and Moneyman brands) has completed a series of training workshops on financial literacy in Taldykorgan and Kapchagai. Eight free workshops were organized with the support of local administration offices within the Concept of Improving Financial Literacy in 2020-2024, approved by the Government of the Republic of Kazakhstan in May 2020.

Participants of workshops had the opportunity to study key topics related to financial literacy: budget control, accounting for expenses and income, credit literacy, financial and credit instruments, financial knowledge in business, and many other issues.

At each stage, we recorder the level of financial literacy of participants. The main data obtained from the survey of participants showed the key points that need to be worked on in future projects:

— Accounting for monthly expenses;

— Service complaints in financial organizations;

— Read and understand financial documents;

— Monthly financial plan development skills;

— Family budget planning;

— Loan rates;

— Loan types;

— Information about loan refinancing.

The main conclusion drawn from the workshops is that the lack of basic financial knowledge directly affects the standard of living of people. From this point of view, the free trainings organized by the IDF Eurasia group in Kazakhstan have proved their urgency.

“The main goal of our financial literacy program is to help participants understand basic financial concepts and principles of financial behavior. Introduce them to existing financial instruments, products and services in Kazakhstan, and teach them how to use them to improve their lives. The first cycle of meetings was held in Kapchagai and Taldykorgan, but we hope that the idea of improving financial literacy is in demand in all regions. If you take a practical approach and apply all the knowledge you have gained in real life, it will undoubtedly benefit our citizens. This will definitely help you learn how to properly allocate your budget, take control of expenses, and learn how to save and invest your funds,” said Dalida Davlyatshina, Operations Director of the IDF Eurasia group in Kazakhstan.

At the end of the seminars, 100% of participants expressed their desire to continue their financial literacy training in more depth.

All participants noted that they began to apply the knowledge gained in practice. For example, to use financial and family planning tools. Many people were motivated to save, learned to analyze loan agreements, calculate the interest rate and compare them with other organizations.  Participants also began to understand how much they can save per month, began to make savings and record monthly expenses.

This is not the only project of the IDF Eurasia group in Kazakhstan on financial literacy. Next year, it is planned to organize similar events in other cities and regions of Kazakhstan.

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