Children of Farmak employees took part in the training session “Smart Financing for Young Adults." The event was held on May 14 at the training center of Financial Academy of Raiffeisen Bank Aval.
The training was conducted as a game. During the training, children learned essence of a foreign currency, credit, interest rates, inflation and taxes, banks, sources of income, protection from fraud and theft. They realized which purchases were necessary and which ones redundant. In addition, teens were explained why not all the items were bought right away, and why you need to set aside the money. The financial literacy training allowed young Farmak children to lay the foundation for the "smart" budgeting and support their fund management skills.
During the team games and interactive lessons, children were taught to make their own spending plans and manage a budget.
Within the project framework, kids mastered such concepts as: investment, assets, liabilities, stocks, diversification, insurance, accounting of income and expenses, and learned the difference between the current and savings accounts and more.
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