International Day of the Girl Child: Why Financial Literacy for Girls is Essential

DR. BILAL AHMAD PANDOW, FINANCIAL LITERACY ADVOCATE AND AUTHOR

Every year on October 11th, 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 emphasize 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 a 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 $15 trillion to $30 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% 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 life-changing. 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. Prioritize 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, philanthropic 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 longterm 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.

Programs that prioritize financial literacy should be at the forefront of any girl-child empowerment initiative. These programs 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 programs are crucial.

Philanthropists can collaborate with schools, local NGOs, and international organizations 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 programs, 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. (The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of the Daily Tribune)