By Ayu Ratna Wulandari | Project Leader
Dear Friends,
May this report find you well.
We are pleased to inform you that YKIP successfully held our first session on financial planning for the sponsored students in the Vocational and University Scholarship Program on October 29, 2023. YKIP invited 9 Vocational sponsored students who are graduating this year (8 females and 1 male) and nine girls from the University Scholarship Program.
Even though some of the students in Vocational Scholarship Program haven't graduated yet, they are already employed in the hospitality sector. With the salary they get, they could use it to fulfill their needs and wants, but there will be big problems that appear if they can't make priorities to spend their money. YKIP believes it is crucial to teach students how to manage their hard-earned money since this ability is not taught in college.
YKIP split the students up into four smaller groups for the workshop. They are expected to think back on the previous month's expenses and divide them into two categories: needs and wants. The students then prioritize how they spend their money after they are aware of which expenses are related to needs and wants. The activities were very lively as the students had a very good discussion within their small groups. After the group discussion, they presented their group findings to the other students. It was open for other groups to voice their opinions and ask questions about the presentation.
In addition, the kids are taught the importance of insurance, emergency funds, investing, and saving for the future. Additionally, they are taught how to create a monthly budget based on their priorities.
The students also learn about the importance of emergency funds, insurance, saving, and investment for their future. They also learned how to make a monthly budget according to the priorities and including the budget for emergency funds. We were happy because the students asked many questions about creating the budget and were eager to implement it in their next month's income.
Here are some feedback from the attendees regarding the workshop:
"I had no idea that setting up a budget for an emergency fund was necessary. This program taught me how vital it is to have an emergency fund and how much money I should save for it. I'll begin saving next month."- Desi, a sponsored vocational student in hospitality, currently works in a hotel in Ubud.
"I was motivated to use my money more wisely by today's activity. I'm hoping YKIP can hold workshops like this one more frequently." " Pritha- University year 3
"I like the workshop because we have good discussions to finish the task. Making friends from different program areas and learning about budgeting is a terrific experience" Tia, studying Business Administration, will graduate from a vocational institution next month.
We are happy that YKIP could help the children in planning their finances and future. In the future, YKIP hopes to host events of a similar nature for students enrolled in the university and vocational scholarship programs. Additionally, they hope to expand this initiative to include the KEMBALI scholarship program.
This event was supported by Riot Games through GlobalGiving Coporate grant.
Thank you and best wishes,
YKIP Team
By Ayu Ratna Wulandari | Project Leader
By Ayu Ratna Wulandari | Project Leader
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