Chief of Agronomy (Pailin PDAFF) Sophanara Phan, Senior Project Researcher Panhaleak Chay, Dr Van Touch, and research assistants Pherom Song, Sarouet Yong, Sophea Yous, Lita Mom and Chariya Korn reflect on some of the impacts they are seeing as a result of recent financial literacy training.
In Northwest Cambodia, smallholder farming households face daily financial pressures that extend far beyond their farms. Savings were almost non-existent, expenses unplanned, and debt, whether from microfinance institutions, banks, or informal lenders, was a constant burden. Many families sold valuables, livestock, or land to make repayments.
“We never saved anything; money came in and went out. When problems came, we had nothing to rely on.”
The emotional toll was profound. Women, often managing household finances, described feeling constant worry and stress.
Financial literacy training
To address these challenges, 8 financial literacy workshops were held across 8 villages as part of Activity 6, each lasting 2 days. In total, 154 farmers participated (77% of them women) showing strong local engagement and interest in financial management.
The training covered budgeting, distinguishing needs from wants, saving habits, and debt management. Role plays and group discussions helped farmers connect financial behaviour with household wellbeing. One farmer reflected, “I realised how much money I wasted on things that were not necessary.”
Creating change
The most visible change was the emergence of savings habits. Farmers who had never saved before began setting aside small daily or monthly amounts. “For the first time, I saved 2,000 riel a day. It gave me hope,” said one farmer.
Learning to separate needs from wants was another turning point. Households cut back on cigarettes, alcohol, and unnecessary spending, redirecting money toward savings and essentials. Participants also became more cautious about borrowing, focusing on repayment planning and reducing risky loans.
Just as important were the emotional benefits. Farmers reported feeling more in control and less anxious about the future. “Before, I felt powerless. Now, I feel capable of managing money,” said one participant.
Lessons and insights
These stories show that even small savings can reduce stress, build confidence, and improve family resilience. The simple practice of distinguishing between needs and wants reshaped household decision-making.
Women, in particular, reported stronger voices in family discussions and greater confidence in planning.
“Now my husband and I make decisions together. I have a say in how we spend and save”.
Farmers also described passing on these lessons to their children, helping build financial awareness across generations.
A gateway to agricultural development
Financial literacy may seem a small step, but for farming families in Northwest Cambodia, it is transformative. While the initiative’s impact at the household level is clear, it also recognises that farmers’ challenges extend beyond financial knowledge. Many smallholders are coping with wider agricultural and economic constraints that shape their daily lives. Although the project cannot directly address these systemic issues, it acknowledges their influence and situates its work within a broader understanding of rural inequality and development.
Understanding how to plan, save, and manage debt has opened pathways to resilience. With greater financial control, farmers are better able to plan for the future, whether investing in livestock, crops, or education. “If I plan money well, I can plan better for farming,” explained one farmer. Another added, “My goal now is to buy more piglets. Careful spending makes this possible.”
Financial literacy is not only about money – it is about dignity, confidence, and hope. Through better planning, families are improving wellbeing, food security, and their ability to invest in sustainable livelihoods.