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Four Ways to Support Vulnerable Youth: Key Takeaways from a Six-Year Livelihood Program
The world’s current generation of 1.8 billion young people is the largest in history. But harnessing this demographic dividend has proven difficult, as youth unemployment rates have remained persistently high for the last decade. Save the Children’s recently concluded Youth in Action program was designed to improve the socioeconomic status of 40,000 out-of-school youth in rural Africa. To find out how well it worked, the organization embedded 32 studies into the program. It recently shared the results – and Nikhit D’Sa discusses four lessons from the findings.
- Categories
- Education
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You Can’t Change What You Can’t See: Taking America’s Financial Health Pulse
Last week, a new FDIC survey revealed that the number of unbanked U.S. households has reached the lowest point since the survey started in 2009. Meanwhile, advances in fintech and a strong overall economy suggest that the financial prospects of most Americans should be looking up. But as Center for Financial Services Innovation president Jennifer Tescher points out, the story is not that simple. In reality, she says, a massive number of Americans are struggling financially. She explores this and other troubling findings in the U.S. Financial Health Pulse, a landmark new study that aims to show the true picture of Americans’ financial lives.
- Categories
- Finance
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Wall St. Journal Financial Inclusion Challenge Seeks Innovative Enterprises – Application Deadline Feb. 23
Financial instability plagues millions of Americans. Many cannot pay their monthly bills and have no retirement savings or no idea how to manage what they do have. The Wall Street Journal has launched a Financial Inclusion Challenge aimed at both nonprofits and for-profit organizations who have socially impactful solutions to the problems of low- and moderate-income people in the U.S. The deadline for entry is Feb. 23.
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Reserve Bank of India to Launch Financial Literacy Drive in Nine States
Six NGOs registered with the Depositor Education and Awareness Fund -- CRISIL Foundation, Dhan Foundation, Swadhaar Fin Access, Indian School of Micro Finance for Women (ISMW), Samarpit and the PACE Foundation -- have been selected to execute the pilot project in collaboration with banks.
- Categories
- Finance
- Region
- South Asia
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Why Gyms Love January: Leveraging Behavioral Economics for Financial Health
People are famously irrational when it comes to financial matters. We can't seem to resist wasting money on things that we know aren't beneficial. Why do we make self-defeating financial decisions, and how can we be persuaded to change them? Evelyn Stark, financial inclusion lead at MetLife Foundation, discusses the ways financial service providers are leveraging behavioral science to help their clients spend less and save more, in the latest NextBillion podcast.
- Categories
- Finance, NextBillion Originals
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An Integrated Approach to Financial Inclusion: Welcoming NextBillion’s Newest Partner, BFA
Recognizing that the financial challenges of low-income people won’t be solved by access alone, BFA seeks out solutions that combine finance, user-centered design, data, policy and technology. That's why NextBillion is pleased to announce BFA as the sponsor of our new "Inclusive Fintech" Zone, which will host blog posts on the latest fintech trends, innovations and enterprises, along with two ongoing series exploring BFA's insights and analysis of financial inclusion-focused initiatives.
- Categories
- Finance, NextBillion Originals, Technology
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Mobile Podcasts: A Cost-Effective Way to Boost Financial Literacy in India
As a reader of this blog, you likely find it easy to read and understand instructions about basic banking processes, and breeze through simple transactions like ATM withdrawals. But what about those who lack literacy skills, or who are just getting introduced to the world of finance? Mobile phone podcasts, particularly those delivered to targeted audiences in their language, can be a solution. With the potential to reach more than 1 billion mobile subscribers in India, mobile phone podcasts could bring financial literacy to underserved communities.
- Categories
- Technology
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Why India needs to work on financial literacy now more than ever
India is home to 17.5% of the world’s population but nearly 76% of its adult population does not understand even the basic financial concepts. Empirical evidence shows that digital efforts on financial education have had a far greater impact than the traditional media.
- Categories
- Uncategorized
- Region
- South Asia
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