Other Informal Ways to Foster Financial

Learning to Young Learners in Tanzania
The informal ways in which societal members learn about finances is in wider spectrum and probably it might have the great contribution toward enhancing financial literacy among citizens relative to form training. As the country still has a number of individuals who has never went through into a formal education system, and those who went a large percentages lies on the primary and secondary school level. Therefore, many individuals fail to learn and experience the financial sophistication that is experienced by those who go through college and universities. Therefore, it is imperative to come up with informal strategies that can sensitize financial literacy in the countries.
These alternative ways of providing financial education to consumers, in Tanzania are characterized by financial services suppliers who have interest to their target customers who are mainly grownup people.
Among of the notable initiatives is the contribution of commercial banks which offers some special in-house and exhibitions specially targeted to young learners. Some of the banks has come up with specialized accounts for schooling children which can be opened in collaboration
with their parents. These bank account can be a great source of experiential learning to children if widely adopted by parents. Microfinance like FINCA provide many initiatives to safeguard the wellbeing of consumers and promote financial literacy, FINCA with its subsidiaries in developing economies they offer financial literacy training with topics of borrowing wisely, saving regularly, understanding products terms and conditions. They also have introduced an SMS- enabled financial literacy courses which are very helpful. However, all these initiatives are targeted to their potential clients who are mainly grown up people.
The other notable forms for offering financial education to the children is through using extracurricular activities with a focus of enhancing financial understanding. However, these factual actions are probably scarce in the country due to lack of knowledgeable trainers, lack of emphasis from the authorities and societal negligence. If young people are not connected to the knowledge acquirer they never appreciate its comprehension.
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