Savings for Transformations Really Safe My Family
Many people know and realize how important an emergency fund is for a person or family. However, knowing and realizing is not enough. Sometimes the consideration of one's own or other people's experiences can be a very strong trigger for a person to change behavior, including the behavior to prepare a disaster emergency fund.
Ibu Susi from Cililitan Village, East Jakarta is a woman who has experienced the above changes. She is now a member of a savings and loan group for children's wellbeing known as Savings for Transformations (S4T). Ibu Susi decided to join the S4T group after experiencing its benefits.
"At two o'clock in the morning, my son suddenly had a traffic accident and immediately needed money for treatment and towing of the vehicle he was using. Thank God, the loan I got from S4T during the day became a very practical solution. If there was no loan from S4T, I really don't know how I could have helped my son at that time," said Ibu Susi.
Who can predict when a calamity or disaster will occur. This experience was very valuable for Ibu Susi and made her even more convinced of the importance of having an emergency fund. "Even though in the day, I had no intention of borrowing. But I had to borrow because following the agreement, group members who have never borrowed must borrow to keep the group's capital rolling. Honestly, at that time I felt that I did not need a loan, but I just wanted to honor the group agreement," she said.
Ibu Susi admitted that she had previously intended not to join the S4T group because she found it difficult to manage family finances, but after feeling the benefits during the crisis and emergency situation, she decided to continue to be a member of S4T in Cililitan area.
"I felt very helped by being a member of the S4T group, especially when I could repay the loan in installments over two months with a very low interest according to the group's agreement at the beginning of the formation. Since S4T was introduced by WVI, my children and family have really benefited," she concluded. Through the USAID KUAT (Urban Community for Resilient Action) project, WVI also strengthens the household financial management skills of the assisted communities.
Ibu Susi's personal experience was one of the triggers for the establishment of other S4T groups in Cililitan. Even today, there is a 19-year-old S4T group member, commonly called Fatma. Fatma is currently starting a snack business and has used the loan from S4T for her small business capital needs.
"I feel that I have received support from the women in my village for the smooth running of my new business. It's rare for young people to immediately get trust for business capital, so I think this is a good way and guidance for the progress of my current business," said Fatma during S4T's facilitator training in Jakarta on November 2023.
Author: Dina Tobing (USAID KUAT Project staff)
Editor: Mariana Kurniawati (Communication Executive)
