PEDN (The Private Education Development Network) is a Ugandan non
profit organization that has reached over 500,000 youth with social and
financial education, life skills, business skills, youth mentoring and
entrepreneurship training since 2004.
This month, we are teaching you about World Savings Day and how to make a Saving Plan.
Have you ever heard of the World Savings Day? If yes, have you ever asked yourself what the World
Savings Day is all about? Well, the World Savings Day is an annual event held every year in recognition of
saving.
World Savings Day, also known as World Thrift Day, is celebrated annually on the 31st of October. This
day is dedicated to promoting the importance of saving money, financial literacy, and responsible financial
planning. World Savings Day 2024 is celebrated to focus on the importance of saving money by individuals
for the future.
Some of you may have started saving money or some of you are thinking about saving money. You should
know what you are saving your money for? It is important for you to have a money saving plan! If you do
not have a money saving plan yet, here is an exercise to help you to develop your saving plan.
Get 2 manila papers, an old newspaper, a piece of paper, a pair of scissors, glue and a pencil or a pen. On
the old newspaper, draw shapes of at most 5 different items that you would like to buy or save money
for. You can draw a shape of a dress if you are girl, a pair of shorts if you are boy, a school bag, shoes,
watches, or any other item that you would like to buy. If you want to save for only one item, only cut out
one item.
In the next step, find out how much each of those items you want to save money for, will cost and write
down the prices on a white piece of paper. Next, get the Manila paper, your pen and some glue. Draw a
large table of 3 columns and 7 rows on the Manilla paper, similar to the table below:
Stick each of the items that you cut out onto the Manila paper on the left side under the column of Item,
one item in each row. Write the prices of each item in the row next to each piece that you cut out in the
column of price. Add the total of the prices and fill the space of the Total.
After filling the table, this will be your SAVING PLAN.
A saving plan includes the item that you are saving money for, how much it costs, how much money you
are going start saving every week and how long it will take for you to save enough money for that item.
Place your SAVING PLAN in a place where you can see it every day to remind you of your plan. Discuss
this saving plan with your parents or guardians and start saving your money according to your plan. On
the second Manilla paper, you can draw your saving card according to the table below:
I wish you the best as you make your Saving Plan!
NOTE: This article was written by PEDN to be published in the Good News Publication for November 2024, For young people 10 to 19 years.
Teachers can share this article with the young people they teach or parents / guardians can share this article with the young people in their homes
or communities.
By Joy Mukisa, PEDN
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