Stanbic Bank encourages young women to embrace savings culture

Nana Serwaah Bossman, Manager, Youth Banking at Stanbic Bank, has urged young women to cultivate a strong savings culture, emphasizing its importance for achieving financial independence and building wealth for future generations. She made these remarks at the WiSTEM GH KNUST Girls Bootcamp held in Kumasi.

Nana Serwaah explained that a solid financial plan aligns one’s efforts with long-term goals, giving a clear sense of purpose and direction. She highlighted the importance of prioritizing spending and saving, and making intentional financial decisions that reflect one’s objectives.

She encouraged the young women to take control of their finances by creating and sticking to a budget. She said “While it’s fine to enjoy what we earn, the key is to spend wisely. Prioritizing your expenses toward what truly matters, and making informed choices, helps you stay on track toward your goals.

A budget is your financial plan. It guides you on how to spend and save. Planning your needs before your wants ensures you can manage your money effectively. By separating needs from wants and understanding that needs are essentials like health care, while wants are things like sneakers or luxury items, you gain control over your finances.”

Stanbic Bank’s commitment to empowering young women is reflected not only in its financial education efforts but also in its support for STEM education. The bank has distributed 250 laptops to enhance STEM learning at KNUST and continues to support various educational institutions, including Takoradi Technical University, Sunyani School of Professional Studies, and Blessed Holy Child Academy.

This year’s WiSTEM event, which is the 5^th of its kind was held under the theme “Accelerating Progress: Investing in Girls through STEM.” The initiative forms part of Stanbic Bank’s broader efforts to foster gender parity in STEM fields and empower young women. WiSTEM is a global initiative that supports over 20,000 high school students. Its mission is to bridge the gap between social justice and STEM, through pillars of Networking, Mentorship, and Outreach.

With a student-led model, WiSTEM is committed to creating equitable and inclusive engagement opportunities in STEM. The initiative aims to challenge societal attitudes toward women in STEM, providing the support needed for high school girls to thrive in the sciences.

The post Stanbic Bank encourages young women to embrace savings culture appeared first on The Business & Financial Times.

Read Full Story