Rabecca Mukelabia is like most mothers – she dreams of one day sending her children to university. Unlike most mothers in her native Zambia, though, Rabecca is making her big dream a reality, by securely saving funds in a FINCA savings account.
Saving money can be hard, but it’s even harder for poor families in developing countries who live on small wages. In Sub-Saharan Africa, only 15 percent of the population saves money securely at a bank or financial institution. Some may save their money at home or with a family member, where there is a high risk of theft or loss. Without a safe place to store their savings, families face challenges in utilizing their profits and planning for the future.
Rabecca was no exception. Before she had a savings account, she had to depend on what little profits were available from her small restaurant business in Chilanga, Zambia. Rabecca was often unprepared for whatever challenges life would deal her.
“Whenever I had a problem, I would use money from the business,” she says.
With a FINCA savings account, Rabecca doesn’t have to worry about choosing between her business and family anymore. Savings accounts help families to build a nest egg for education, medical care, retirement and other long-term goals.
“Since I started saving, I can better plan for my family’s needs and also invest in my business,” Rabecca says.
Now, I am always able to pay for my children’s schools fees. I never dreamt that I could send my children to university.
Being prepared for life’s many obstacles is one of the ways parents like Rabecca can remain unstoppable. She now has the ability to plan for the future, ensuring her and her children’s dreams are obtainable.
You could be unbanked, too.
FINCA recently launched a new campaign, the Unstoppable Campaign, to showcase how FINCA transforms the lives of unbanked people around the world. It is also an opportunity for you to get a glimpse, first-hand, what it is like to feel “unbanked.”
Head to IamUnbanked.org, watch our latest campaign video and join the Unbanked Challenge, where you’ll pledge to spend one day or more without using credit and debit cards, ATMs, payment apps, checking and savings accounts, and with no online access to your money. You’ll only use the cash in your wallet to understand what it would be like to be unbanked. Don’t forget to share your experiences on social media with the hashtag #IamUnbanked.