Piyaporn Siripreechaphan, a fifth-grade teacher in Kalasin province, struggled to manage her money and found herself at risk of spiraling into the cycle of debt. A situation that affects too many people in Thailand. Like most teachers, she is paid far less than many other professional positions. Ever the optimist though, Piyaporn was determined to climb out of debt and attain financial freedom.
The best teachers have the ability to inspire students and help them grow. Piyaporn, of course, knows this well, and so when she learned about Kenan’s Government Savings Bank project, she eagerly put on her student shoes and started on a journey of growth. She confessed that she “had no idea about saving money or budgeting” at that time, but in a few short months she would become well-versed about key financial skills, such as accounting, saving, and investing.
As a result of participating in the GSB project, Piyaporn is ready to take on financial challenges to improve her and her family’s life for the better. “I feel lucky to have participated in this project,” she said, “I believe that this knowledge can improve my family’s life and the people surrounding me.” Since completing the project, Piyaporn has begun applying the knowledge into her own life and advocating for members of her community to do the same. “I have improved my financial literacy knowledge. I have also continued searching for information to ensure that I can pass on advice to others.”
For more than 15 years, Kenan has been helping individuals in disadvantaged communities raise their financial literacy so that they can achieve long-term financial security. By strengthening community groups, Kenan creates a sustainable infrastructure for individuals to receive high-quality financial support. Thailand can learn a lot from the example of Piyaporn and scale up these programs to ensure that basic financial literacy knowledge is available to all.
The government has attempted to raise financial literacy by embedding financial education into the high school curriculum; however, wider access to financial literacy support should focus directly on those in need. Without the ability to plan and effectively manage money, many people become trapped in cycles of poverty and indebtedness.
Share Piyaporn’s story and how financial literacy helped her escape debt.