One of the most pervasive problems encountered by lower-income communities is building financial reserves. The daily demands for every cent, when you have little, usually takes priority.
However, there is still a value of building such reserves, even if in small amounts. This is why we created the Community Tabung Programme. Loosely translated, “Tabung” means “money box” in Malay – an apt name for an initiative to help our members grow their savings in support of their children’s health and educational needs.
It is a means to help our members achieve their aspirations and save for those rainy days. And does wonders for building a sense of worth and self-esteem among them.
The cold, hard reality is that many of our members are often cash-strapped. So even setting aside $2 a month can be difficult. Community Tabung circumvents this by encouraging collective saving. Every month, neighbours put in what they can – any amount – into a communal kitty. Beyond doubles this amount with donations from well-wishes and supporters.
The total amount is then redistributed equally among all Tabung members directly into their children’s individual Child Development Account. For children up to the age of 12, this means an additional top-up of 1-to-1 matching funds from the government. So, even kids whose parents may not have contributed that month benefit.
Which begs the question, “Why would some parents put more money in the Community Tabung if they knew others weren’t able to contribute anything?”
The response to that question is always heart-warming and humbling. The parents involved in Community Tabung say they consider all the kids in the neighbourhood theirs. So being able to help all of them succeed is seen as a shared responsibility.
The proverbial village, leading the way to a more equitable, empathetic society.
We’re looking for partners who believe in shared responsibility and community-driven change.
Whether through funding, resources, or expertise, your support can empower families to build resilience and secure brighter futures for their children. Let’s work together to create lasting impact.
Connect with us today at partnerships@beyond.org.sg