Children International Sponsored Child Is Recognized for Her Financial Leadership
KANSAS CITY, MO--(Marketwire - May 3, 2012) - Carla Vasquez, a child supported by Children International, has big ideas about fighting poverty through smart savings habits -- and the world is taking notice.
The 9-year-old girl from Guayaquil, Ecuador, is the only child awarded the Youth Champion Award in Amsterdam, the Netherlands, by Child and Youth Finance International, a global nonprofit promoting financial access and education to children under age 18. Carla received the award for leading a financial savings education club, called Aflatoun, which is part of the offerings available through Children International's sponsorship program in her community.
Children International president and CEO Jim Cook said, "We are incredibly proud of Carla's accomplishment and her ability to recognize the value of personal financial responsibility as one method to overcome poverty. Carla is wise beyond her young age."
Even at her age and despite being desperately poor, Carla is an officer of her local Aflatoun financial education club. Through this program that Children International has incorporated as part of its sponsorship to benefit children growing up in poverty, Carla has recognized the value of budgeting the little money she earns selling crafts to set up a savings account at a neighborhood bank. She likewise has encouraged 22 other children in her savings club to do the same.
Carla has promoted the program at her school, and has presented the club's initiatives to her class. As a result of her advocacy, Carla's family has adopted their own savings regimen. Her father, George, and her mother, Arminda, both work hard to support their family. But it wasn't until Carla demonstrated the long-term value of budgeting to her parents that they became more confident about their saving power and realized they could change their family's future by implementing basic financial management practices.
Financial education and savings habits are vital for children and families living in poverty. Needy families live day to day and typically spend the little money they earn because they don't see a tomorrow. However, the Aflatoun program empowers children and youth to recognize the importance of planning for the future.
"The program gives impoverished youth and families the confidence to invest their money and explains why it's important to plan for tomorrow. It gives them the tools to plan for tomorrow and get one step closer to becoming self-reliant adults," said Jeremy Parker, signature programs coordinator for Children International.
About Child and Youth Finance International
Child and Youth Finance International (CYFI) has a goal of facilitating financial access for 100 million children in 100 countries. To achieve this, CYFI has built an international, multi-stakeholder network. Over 1,000 institutions and individuals are working toward providing financial education and financial access to children 18 and under in all countries of the world. United in the belief that children and youth, given the opportunity to understand, can manage and make wise choices with their financial resources and will be empowered to make positive changes in their lives and break the cycle of poverty.
About Children International:
Established in 1936, Children International is an award-winning humanitarian organization with its headquarters in Kansas City, Missouri. The organization has been recognized by Forbes magazine and Consumers Digest as a leading charity. Children International's programs help more than 340,000 children and their families in 11 countries around the world including Chile, Colombia, the Dominican Republic, Ecuador, Guatemala, Mexico, Zambia, Honduras, India, the Philippines and the United States. For more information about Children International or to sponsor a child, visit www.children.org. Follow Children International on Facebook and Twitter.