World Relief About Savings For Life

About Savings For Life
About SFL

Reaching the World’s Poor

Lessons on economic empowerment and financial responsibility give individuals an ability to reach a previously unattainable level of control over the financial realities of their lives. Through World Relief's Saving for Life programs, the world's most poor and vulnerable are equipped with the necessary tools for creating a stable foundation upon which to begin a journey toward financial stability. By fostering the creation of savings groups Savings for Life programs provides a sense of empowerment both at the individual and group level that positively affects all aspects of participants' lives and the communities in which they live and work.

The Poor Do Save

Saving, even among the poorest of the worst's most economically disadvantaged populations, is a well established practice. Whether savings are kept in cash or in physical assets, the poor save to meet social obligations (weddings, funerals, festivals, etc.), to prepare for emergencies, to start or expand small businesses, and to prepare for seasonal changes in cash flow. While the concept of savings has roots within these poor communities, certain social and institutional barriers exist that prevent the full integration of the practice within all levels of society.

Many of the poorest have no safe outlet for savings. Formal banks and financial institutions find them too risky and exclude the poor with high fees or unattainable minimum balances. Without safe options for savings, the poor face high risks to savings—and are often vulnerable to loss or theft.

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How it Works!

Rwanda Gahanga