Money Management Academy

About the Course

Savings Course is developed by our partner, German Sparkassenstiftung for International Cooperation (DSIK). From this course, you will learn essential strategies to save effectively, budget wisely, and secure your financial future, regardless of your current financial knowledge or resources. The course will empower learners with practical knowledge to build a stable financial foundation and achieve their long-term goals.

Resources:

German Sparkassenstiftung for International Cooperation: Savings course (developed for the project: Strengthening financial capabilities in the Kingdom of Thailand).

Please find below the detailed content description of each unit.

Unit 1: Foundations of Savings

Participants will define 'savings' and categorize its purposes, understanding the basic rules and principles guiding effective saving habits. They will explore factors influencing savings, distinguishing between controllable and uncontrollable elements, and learn strategies to optimize their saving potential.

Unit 2: Savings for Emergencies

Participants will learn to identify different types of emergencies and assess their financial implications. They will acquire skills to estimate the necessary funds for addressing emergencies effectively. Moreover, participants will understand the importance of prioritizing the creation of an emergency fund as a crucial savings objective, enabling them to enhance their financial preparedness and resilience in the face of unforeseen circumstances.

Unit 3: Setting Financial Goals

Participants will learn to set and prioritize financial goals according to their individual needs and aspirations. They will understand how the funds required to achieve a goal, the designated savings target, and the timeline for achievement are interconnected.

Unit 4: Effective Savings Techniques

Participants will differentiate between formal, semi-formal, and informal savings services within their community. They will gain insights into the advantages and disadvantages of each type of savings service. Additionally, participants will develop the ability to identify factors that influence their choice of a particular savings service, empowering them to make informed decisions aligned with their financial goals and preferences.

Unit 5: Savings Products and Calculating Interest

Participants will identify the most common savings products offered by formal savings service providers such as banks and articulate their main features. They will demonstrate the ability to match savings goals with suitable savings products based on their characteristics and benefits. Additionally, participants will acquire the skills to calculate simple interest and comprehend the concept of compound interest, laying the groundwork for informed decision-making and effective financial planning.

Requirements

There are no requirements to take this course. Everyone interested in improving savings knowledge can join.

Certificate

There will be a final test with 10 questions at the end of the course. As a student, you are required to achieve 80% or more (8 correct answers or more) in order to earn the certificate.