Sokhdom’s new bike sits outside his family home in Kampong Chhnang province, Cambodia – and Sokhdom proudly used his own savings to buy it. As a student of CUFA’s Children’s Financial Literacy project, Sokhdom began saving the money he earned by selling cashew nuts after school.
He soon had enough to buy the bike that will enable him to go to high school next year – a 20-kilometre round trip – and for his mother to travel to market to sell her rice. Best of all, Sokhdom’s success with smart saving is inspiring other children in his village to embark on their own savings plans too.
Read more uplifting stories from CUFA’s financial literacy programs on smart saving here.
FAST FINANCIAL FACT: CUFA’s Deputy CEO Rebecca MacFarling was amazed to learn on a recent field trip that the 250 children from a small village in Kampong Chhnang, Cambodia, had accumulated a total savings pool of USD 2,000 in the last few years.
This significant amount saved by children whose parents are day-labourers and subsistence farmers is the remarkable result of the incredible work CUFA have been able to achieve with the Children’s Financial Literacy program in the area.