Womanthismonth.com 82 November 2024 opinion Every year on October 11, the world celebrates the International Day of the Girl Child to highlight the challenges girls face and promote their empowerment. This year, the focus has expanded beyond simply ensuring that girls receive an education. It’s time to emphasise a critical but often overlooked skill: financial literacy. Educating girls on how to manage money, understand savings, investments and economic decision-making could be one of the most transformative ways to create a brighter, more equitable future. According to UNICEF, despite clear evidence showing the importance of girls’ education for development, gender gaps in schooling remain widespread. Globally, 119 million girls are not attending school, with 34 million of them at the primary level, 28 million at the lower-secondary level, and 58 million at the upper-secondary level. In conflict-affected countries, girls are more than twice as likely to be out of school compared to those in peaceful regions. A 2018 study by the World Bank estimates that restricted access to education for girls, along with obstacles to finishing 12 years of schooling, results in a loss of USD15 trillion to USD30 trillion in lifetime productivity and earnings for countries. While the disparities are more noticeable in countries experiencing fragility, conflict and violence. In these nations, girls are 2.5 times more likely than boys to be out of school, and at the secondary level, they are 90 percent more likely to be out of school compared to girls in non-fragility, conflict and violence regions. Why Financial Literacy Matters for Girls Financial literacy isn’t just about knowing how to handle money; it’s about economic independence. For girls, especially those from underprivileged or conflict-affected regions, understanding finance can be lifechanging. With financial education, they gain the tools to lift themselves and their families out of poverty. It’s not just about survival; it’s about thriving. Financial literacy teaches them how to save, invest and manage resources efficiently, giving them control over their economic future. Girls who know how to handle money are less likely to be abused, engaged or trafficked for sexual purposes. They can handle life’s problems better, even when things are tough, if they know how to handle their money and fight for their financial rights. Why Financial Literacy for Girls is Essential Financial Literacy Advocate, author and Assistant Professor – Finance at Bahrain Polytechnic, Dr. Bilal Ahmad Pandow, highlights the importance of financial literacy on the occasion of International Day of the Girl Child. International Day of the Girl Child
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