Borrowing Wisely 1

  • Borrowing money can be a great way to invest in some- thing that you need and that will help you get further in your career. However, there are important responsibilities that come with borrowing money, and consequences for not paying it back.
  • The sessions on borrowing should only take place with older girls. Do not be seen as encouraging borrowing, rather you are exploring this as an option. These consequences are important, so this session should only be done along with Part 2.
  • The saving/borrowing game can be a bit tricky, so practice it beforehand so you are sure of the rules.
  • You may want to invite a Standard Chartered volunteer to come in and discuss borrowing with the girls.
  • Paper
  • Markers
  • Fake Bank Notes (see Spending Decisions Session)
Time Required: 
One Hour
  • To understand the differences between saving and borrowing.
  • To determine good reasons to borrow money.
  1. Begin by asking: what are some reasons you might need a large sum of money?
  2. Draw pictures of the answers girls stateon the board. Answers might include a motorbike, school fees, a home.
  3. Give each girl paper and markers and give her five minutes to draw something big she wants to have money for.
  4. Ask girls to volunteer to share their pictures, and the reason they want to save for that.
  5. Explain that there are two main ways to get large sums of money: saving and borrowing. Explain the difference between the two:
    • Saving – putting aside a little money at a time to grow into a large sum.
    • Borrowing – receiving a large sum up front and repaying a little at a time.
  6. Play the Saving/Borrowing Game (see Handout 40) for about 20 minutes.
  7. Discuss the game in a group.
Discussion Questions: 
  • What are the advantages of saving? What are the disadvantages?
  • What are the advantages of borrowing? What are the disadvantages?
  • What did you learn today about saving and borrowing?