New immigrant mothers use small coins to reach big dreams

Citi Foundation, Pearl S. Buck Foundations launch a new financial book. (The China Post file photo)

The Citi Foundation and the Pearl S. Buck Foundation launched a new book, titled “Small Coins, Big Dreams: Money Management of New Immigrant Mothers to Taiwan.” This book compiles the stories of nine new immigrant mothers from Indonesia, Vietnam, China, Myanmar, Cambodia, and Thailand. They have achieved their dreams by keeping financial journals and saving money. Both foundations hope that through the book’s publication, the general public will know how these new immigrant mothers strive to achieve their dreams, improve the living environment, and protect their family. These stories can also encourage more low-income families to overcome adversity and then find the road to happiness.

Since 2012, the Taipei’s Pearl S. Buck Foundation and Citi Foundation have worked together to promote the financial management training for new immigrant women to Taiwan. Until today, nearly 60 courses in the program of “New Immigrant Mothers’ Personal Financial Journals” were offered around the island. More than 1,000 new immigrant women participated in this financial literacy program and the amount of their cumulative savings exceeded NT$20 million. This program is designed to help middle- and lower-income new immigrant women to develop the correct concept of financial management through a series of basic financial education and accounting courses. It also empowers them to accumulate wealth through small savings under limited resources.

“With the nation’s increasing number of new immigrants, the Citi Foundation and the Pearl S. Buck Foundation have focused on financial education of new immigrants, guiding them to make good use of financial products and accumulate wealth for themselves,” said Paulus Mok, Citi Country Officer for Taiwan. “Someone may raise a question – ‘Do I need financial management if my income is so low?’ This book provides the best answer. Wealth isn’t how much you earn. It matters how much you use and manage effectively. These new immigrant mothers’ personal experiences enable us to better understand how the accumulation of small coins helps to reach a big dream.”  

The China Post staff