The challenges of household cash management under difficult circumstances with few resources to fall back on could be accentuated by the lack of skills or knowledge to make well informed financial decisions. Financial education can help them prepare ahead of time for life cycle needs and deal with unexpected emergencies without assuming unnecessary debt.
As per an OECD study, the provision of education programmes for the un/underbanked groups can play important roles: •  they can encourage un/underbanked consumers to enter into or make better use of the financial mainstream,  •  they can help to retain them as successful account holders in the short term and  •  they can contribute to keeping them as savers for the long-term.