Blog Post

The Key to Saving

Messy • Aug 12, 2018

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The Livelihood Enhancement Department has been giving Basic Businesses skills training to clients for a number of years. Since 2016, the department has been giving training on saving to clients. On one of the trainings, a single mother called Messy shared her saving experience.

Inspired by the Commercial Bank advertisement on ways of small saving, she got a small box with a hole on top prepared only for saving purpose. She locked the box and threw the key into the dry pit latrine or somewhere she can’t find it. Then, when the box is full, she breaks the pad lock and takes the money out.

Her friends asked her: “Why not give the key to her friends? She answered: “If I am in need of money, I will easily access it”.

The new way of saving that Messy shared attracted a larger number of trainees. They discussed it and suggested some improvements. Finally, eight trainees out of 18 agreed to use the box. They agreed on the following:

It is better to save small cents every day when they get any kind of income.

It is better to put the key in the care of MSC and come with the box on the day of their monthly saving. They can then open their box and deposit all the money in their saving and credit association.

However, a month later, it was observed that only two women kept their intent. These two women were able to save up to 100 Birr. Previously they were complaining that they couldn’t save even 10 Birr per month. Thus, it proved that informing clients creates awareness about new ways of thinking and encourages them to save as they want.

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