Womanthismonth.com November 2024 83 opinion Prioritise Education over Direct Financial Support Giving girls more power is often done by philanthropists through direct financial help. Even though the goal is beneficial, this is only a short-term fix for a long-term issue. Instead, philanthropists should support projects that teach and improve skills, especially when it comes to finances. Cashouts can help girls and their families with short-term needs, but they don’t fix the problems that make people poor in the first place. Teaching girls how to handle money is a skill that will help them for a long time. In other words, “teach someone to fish rather than giving them a fish,” this is the old saying. Donors who put money into financial education are investing in a long-term way to fight poverty and injustice. Getting educated, especially in financial topics, helps girls come up with creative ways to make money. Girls who know about finances are more likely to start their own business, which will help the market and create jobs. Direct financial support can be helpful in the short term, but it rarely encourages people to be more creative, which is what drives long-term economic growth. Girls who learn about finances grow up to be financially independent adults. They are less likely to depend on help from outside sources and more likely to make smart financial choices that protect their futures. To break the circle of poverty, people need to be able to live on their own for a long time. Learning about finances can help close the gap between men and women in the workforce. Women around the world are less likely than men to own land or be able to use financial services. Philanthropists can help close this gap by teaching girls how to handle and grow their finances. Call for Action Philanthropists have a unique opportunity to empower the next generation of women by focusing on education rather than immediate financial aid. Programmes that prioritise financial literacy should be at the forefront of any girl-child empowerment initiative. These programmes not only provide valuable life skills but also instill confidence, self-reliance and a sense of purpose in girls. In regions like sub-Saharan Africa, South Asia, and conflict-affected areas such as Kashmir, where girls face systemic barriers to education and independence, financial literacy programmes are crucial. Philanthropists can collaborate with schools, local NGOs and international organisations to integrate financial literacy into existing educational curricula. Girls can learn about financial matters in a variety of ways, such as in the classroom, through workshops, mentorship programmes and online resources. These methods can make learning more comprehensive, making sure that everyone can receive and enjoy financial education. The International Day of the Girl Child is a reminder of how much girls around the world can do. Giving girls financial support may help in the short term, but giving them financial literacy is an investment in their future. Giving money to charities that teach girls about financial literacy doesn’t just improve people’s lives; it also makes the world more equitable and prosperous. Let’s move beyond temporary solutions and invest in the transformative power of education, ensuring that girls everywhere have the tools to shape their financial futures. Dr. Bilal Ahmad Pandow is a financial literacy advocate and author of A to Z of Finance for Children and Money Villa: Learn to be Money Smart based in the Middle East.
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