Battambang, KH – Savings program helps CBL purchase school supplies – 1 Jan 2015

CBL used savings to buy school materials for his five children as well as some kitchen tools for his home.

In 2015, Healthy Life Garden Shop implemented two savings programs for its employees. The first savings are deducted directly from their pay and can be issued every six months. For the first half of the year CBL used his savings of US$72 to school uniforms, textbooks, notebooks, and pens.

The second savings program is based off of a rotating savings group model. Each member of the group, in this case six members, puts in US$5 every two weeks, which totals US$30. They then alternate every two weeks who receives the US$30 savings. Every time that the cycle rotates to CBL, he has been putting aside money to buy a piece of land so that he can build a home for his large family and have space to keep livestock for extra income.

Savings programs like these are important to developing countries because it teaches people that they can achieve their goals without any outside help and means that they won’t have to take high interest loans from organizations just looking to make a profit off of them.