Our savings program was developed in response to a request by the BeadforLife members. Money is difficult to save because family members are often asking for it or even taking it. Since impoverished people seldom learn how to use a bank, make a budget, or save money BeadforLife developed a Life Skills program to money. One aspect of this was to begin a savings program with a local bank, Pride Microfinance. We paid the initial fees for opening accounts, gave the members classes in budgeting and banking, and took them to open their accounts.
Currently the beaders and tailors designate how much of their earnings will be deducted from their sales which happen every other week. This amount is deposited directly into the bank through a wire transfer. At the present time 139 individuals are participating in our savings program.

The total amount that has been saved by Aug. 2006 is equivalent to almost $18,000 USD! On average our Beaders save at total of approximately $2250 each month. The average that each Beader saves per month is approximately $19.

The honor of being the highest saver overall, goes to Naiga Mary from the Nsambia group who has saved more than $617 since joining the saving program pilot in May 2005. She is a wonderful example of how the savings program has enabled women to have some financial control and security, and she now feels confident in her ability to be able to afford school fees for her children and to make payments towards her Habitat for Humanity Home when the time comes.