Aflatoun is an innovative and balanced concept that looks to promote in each child a feeling of social and economic empowerment, like the two sides of the same coin. A balance in social and financial education based on rights and responsibilities teaches children self-confidence and sound financial habits. This permits children to continue their education, and possibly in the future, break the cycle of poverty in which they may find themselves.
The Program began in India, when the MelJol organization as part of a program for children’s rights, began to teach the children of the Maharashtra state how to save money. Due to this experience, it was believed that this concept should be tested within other contexts. Various organizations expressed interest in doing this, and in 2005, Aflatoun, Child Savings International was created.
Concept, the Network, and the Program.
The Concept: Aflatoun is a concept that seeks to promote a balanced child social and financial education (CSFE), based on five key elements: Personal Exploration and Understanding; Rights and Responsibilities; Savings and Expenses; Planning and Budgeting; and Social and Economic Entrepreneurship. Through CSFE, Aflatoun aims to empower children so that they can become autonomous and responsible citizens, creating an increasingly resilient and equitable society that has the ability to break the cycle of poverty.
The Network: The Aflatoun Network consists of various organizations and institutions interested in promoting social and financial education. The partner organizations that are currently implementing the program are key members of the Network that can provide knowledge and experience to other potential partner organizations. In addition, international organizations/institutions, funders, financial institutions, boards/ministries of education, represent other components of the Network. Currently, we are developing the Network further, so that children, teachers, families, and schools can be included.
Uniqueness and difference, Respect for others, Savings concept
Interdependence of child with; family, neighbourhood and community, Money as a means of satisfying some needs not wants
Self exploration through understanding feelings, financial ethics and transparency, Environmental preservation
Responsible behaviour & citizenship, developing pride, Collective action, Organisational skills
Needs, rights & responsibilities, income, expenditure &saving, democracy and leadership, fulfilment of needs and wellbeing
Marginalisation & exclusion, child enterprise, planning & budgeting, formal banking, Exploration of poverty
Myths and stereotypes, Setting of financial goals, Enterprising activity, exploring links between income, expenditure, savings and Investment
Self reflection, Biases and prejudices (thinking differently) Gender stereotypes, development of financial capabilities
Curriculum focuses on self when children are young – then family and friends, building on insights into child development. Older curricula (standards 5-8) focus is more on following the motto, leads the children through separating fiction from fact, explore, think, investigate and act’. As children get older also focus more on the stereotypes gender, disability, culture etc and more about auditing use of resources
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