Money literacy talks

Participants in the MICNGOs-sponsored financial literacy training course held earlier in December in Majuro. Photo: Eve Burns.

Marshall Islands Council of Non-Governmental Organization (MICNGO) held a financial literacy training earlier this month. Finance Literacy is having the knowledge and understanding of financial principles to manage money in a wise and effective manner.

The training lasted three days and although it was open to all only ten people attended the training from MICNGOs and Morning Star church.

The training focused on financial literacy needs analysis, personal finance management, public finance management, citizen budgeting, institutional and assessment mapping, code of minimum standards, and civil society partnership in development effectiveness.

“Financial literacy is important, because without a proper understanding of personal finance, and the skills necessary to manage money effectively, financial success becomes extremely improbable,” said MICNGOs representative Galbert Robert. “Meanwhile, the likelihood of financial struggle increases. Some of the most important benefits of being financially literate include less debt, higher net worth, less financial struggle and better with household finances.”

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