Non-residents › Banks and the Estonian Union for Child Welfare teaches how to draw up a family budget
Banks and the Estonian Union for Child Welfare teaches how to draw up a family budget
01.06.2010
In the framework of a cooperation project launched by the Estonian Banking Association and the Estonian Union for Child Welfare bank employees teach families with children how to plan a family budget better and how to anticipate potential financial problems. The Estonian Bar Association that is also involved in the project provides knowledge of family law.
The first advisory sessions will take place at the Estonian Union for Child Welfare on the 16th and the 17th of June both in Estonian and Russian. It should be pointed out that Swedbank, Sampo Pank and Bigbank are also involved in the project. The advisory sessions for families will continue in autumn.
“Thanks to the Estonian Banking Association and the Estonian Bar Association it is possible to provide knowledge and experience which the Estonian Union for Child Welfare lacks. It is praiseworthy that banks and advocates are willing to contribute to the well-being of the community by helping to solve the problems faced by families with children. By joining our efforts in protecting children we will actually secure our own future and the future of our nation,” admitted Katrin Saks, President of the Estonian Union for Child Welfare.
According to Katrin Talihärm, Managing Director of the Estonian Banking Association, every day bank employees meet or contact such families and individuals who struggle to make both ends meet not because of a small income but rather because of inability to balance their income and expenses. “It should be pointed out that financial literacy is very low in the Estonian society for historical reasons and therefore the Estonian Banking Association is pleased to cooperate with the Estonian Union for Child Welfare. It is essential to teach people to balance their daily family budget and make them understand that it is important to have spare money. It is extremely important to raise the awareness of these issues of particularly among the families with children as fast as possible, “ explained Katrin Talihärm.