Youth savings groups

Rafael first heard about youth savings groups at his church in November 2022. He was intrigued by the explanation of how they could help young people like him learn about financial management, grow spiritually and develop leadership skills within a supportive group.

Excited to get involved, Rafael joined the Felicity youth savings group. At the beginning, he faced the challenge of managing his small daily allowance of just US$0.60, given to him by his parents. Despite the temptation to spend it on snacks or other small treats during school hours, Rafael made the disciplined choice to save a portion of it. 

Initially, he contributed $1.30 each week to the savings group, which, although modest, reflected his commitment to his financial goals. After a nine-month saving cycle, Rafael was proud to have saved $39.68. He used this money to support his family by buying groceries.

Growth

Encouraged by this success, Rafael decided to increase his weekly contribution to $3.20 as he entered the group’s second saving cycle. His goal was to save enough money to buy a laptop.

To boost his savings, Rafael began tutoring two primary school children, earning about $13 each month. This income allowed him to contribute more to the savings group without needing to ask his parents for extra money.

Broader impact

Rafael’s commitment to saving had a significant influence on his family. Impressed by his dedication, Rafael’s parents encouraged his younger sibling to start saving as well. This collective effort to save money became a family habit, encouraging a culture in their household of financial responsibility and gratitude.

Rafael also noticed the impact of the savings group in his wider community. Before joining, many of his friends saw saving money as a daunting task, preferring to spend their allowances on entertainment and leisure. However, the savings group taught them the importance of financial discipline and leadership, encouraging them to prioritise saving over spending. This shift brought a sense of satisfaction and togetherness among the youth.

Spiritually, Rafael’s journey within the savings group has been very significant. Initially, he was hesitant to take on leadership roles and felt nervous about leading prayers during meetings. However, as time passed and his confidence grew, Rafael found himself more eager to serve in ministry. He learnt to rely on God’s wisdom and strength, understanding that his efforts in saving and leading were part of a larger spiritual journey. 

One of Rafael’s favourite Bible verses is Romans 12:11, which says, ‘Never be lacking in zeal, but keep your spiritual fervour, serving the Lord.’ This verse has encouraged Rafael to work hard in all aspects of his life, whether at home, school, while tutoring or within the savings group. 

Even when faced with the temptation to skip meetings or avoid his responsibilities, Rafael has chosen to stay committed, knowing that his dedication will lead to even greater rewards in the future.