Caja de Ahorros

Cada moneda se acumula!
In many nations across the world saving money is a problem. The United States is included in this inability to save. Millions of people do not have enough money to get them through even a months worth of expenses should they be without income or in a family emergency. During the 'Great Recession' of 2008 and the following years I coached over 1,400 individuals and families in the United States. I recall about 25 people or less, had enough savings to avoid losing their house to foreclosure during family emergencies.

Nicaragua is no different than the United States in this aspect, not enough savings to cover a family emergency. However, the similarities stops there in regards to saving. Many people in the United States recognize the need to save and would like to, some have set goals to save. But for various reasons they are not able to. A saving culture doesn't exist here in Nicaragua. The majority of individuals I have worked with saving money has never been a thought. I understand this, a country where its people are hindered by extreme poverty makes an individual think there is nothing to save. The years of imperialism, earthquakes, civil wars and hurricanes have all made the concept of tomorrow, a wait and see if the sun rises attitude!

The banking institutions in this country make it very difficult for people to open a bank account. For instance, personal references are required, formal letters for proof of income, and high minimum balances. Many people here do not have formal jobs and often are paid in cash. There also exists a lack of confidence in the banking system and corruption keeps people away from using banks to save money.

However, things are beginning to change here within the Nehemiah Center. The employees have started to implement their own Caja de Ahorros, (savings box). Thanks to the influence of the Finanzas para el Reino program, saving money is not only something they see as possible, but it is a wise commandment from God! The employees have committed to saving at least $100 Nicaraguan Cordobas a month, about $3 U.S. Dollars. They can't withdrawal the funds for a year, and have to pay a multa (ticket) if they don't contribute monthly. At the end of the year the multas will be shared among the whole group.
Esdra Team Leader, Hultner making a deposit!
Many employees are happily participating and planning what to do with their savings! Some want to go on vacation, others save for their wedding anniversary. Another saver is planning to use his money towards buying a house! Besides personal goals, this change in the employees has begun to affect their own training programs. As they train their countrymen, a new influence of Biblical stewardship will enter into other programs and trainings the Nehemiah Center offers.

Happy saver use less debt, and live more freely! What are you saving for?

Making my own deposits!
Tania's savings is growing!

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