Over the holidays, in an independent supplement to USA Today, the voices of four YouthSave account holders came to the forefront. The special edition was focused on “Investing in Asia”, and the YouthSave participants’ insights were highlighted in a questionnaire. In the piece, two girls and two boys aged 12 to 15 living in Nepal revealed meaningful financial aspirations and captured how saving was important to achieving these goals.
“I am saving for my education. I want to be a nurse. If I save now, there will be less of a financial burden on my parents for my education.” Manika Adhikari (quote from MediaPlanet supplement)
In Nepal, there are around 5 million Nepalis between the ages of 12 to 18; however, only about four bank branches exist for every 100,000 adults. YouthSave research has revealed that children in families earning less than $2 a day are not only saving but also making substantial financial decisions for their future.
“My parents may not have the money when I require it for my extra needs, such as tuition and fees for additional classes that I want to take. If I have my own savings, there will be no need to ask my parents for money.” Sameer Dhungana (quote from MediaPlanet supplement)
The publication worked to capture the voices of four youth, and the YouthSave project has an extensive research effort underway to better understand the financial lives of tens of thousands of youth in four different countries over the course of the project. The findings about the complex development impact of savings on youth are just coming to light, but already as Pramod Tamang simply said in the questionnaire: “I feel more secure about my dreams now.”
