Every year, thousands of Nepalese citizens migrate to other countries for work. Many Nepali workers migrate to countries in the Middle East and Southeast Asia, where they often work in construction, domestic work, and other low-skilled jobs. 

The remittances sent back by Nepali migrant workers are an important source of income for their families and the country. In the year 2021/22, remittance inflow crossed the USD 8.5 Billion which makes Nepal one of the top recipient countries of remittances. 

However, there are also concerns about the long-term impact of large-scale migration on Nepal's economy and society. Migrant workers from Nepal face a number of challenges such as poor working conditions, lack of access to basic services, and exploitation by employers.

And one of the primary challenges faced by these hard working soldiers that have been supporting the Nepali economy for a long time now is their own financial condition. Every migrant worker dreams to work as hard as possible for a few years abroad to accumulate some wealth so that they can live happily ever after with their family. But the reality is totally different. 

After working for years abroad Nepali migrants find it hard to stay back in Nepal. Poor management of their hard earned money, lack of investments and business opportunities force returnee migrants to continue working abroad. Data shows that 1 in 3 migrants chose to return to foreign employment. 

The Nepalese Government has implemented a number of policies to support migrant workers and protect their rights, including providing pre-departure orientation and training, establishing a welfare fund for migrants, and setting up consular offices in destination countries. 

And to provide them with investment opportunities within the country, the Securities Board of Nepal (SEBON) has introduced the reservation scheme for the migrant workers. Under the scheme, 10 percent reservation in the initial public offering (IPO) has been made mandatory for Nepalis working abroad as migrant workers. 

While such opportunities as well as reintegration programs are being implemented, the foreign workers themselves need financial literacy training and should be able to manage their hard earned money better. 

So, how can they do that? We at Khatapana are developing a comprehensive course covering the basics of financial literacy. With this online course in Nepali, we believe everyone in Nepal including the migrant workers from Nepal will be able to understand the basic concepts of money management. 

Through the course, we aim to guide Nepali foreign workers to develop a budget and stick to it in order to manage their earnings effectively. This can help them to save money and avoid overspending. After going through the video training on basics of financial literacy, you as a migrant worker will be able to:

Determine your income and expenses: 

Start by listing your sources of income, such as your salary or wages, and then list all of your regular expenses, such as rent, food, and bills. This will give you an idea of how much money you have available to save or spend each month.

Prioritize your expenses: 

Once you know how much money you have available each month, you can start to prioritize your expenses. For example, you may want to make sure that you have enough money to cover your rent and other essential expenses before you spend money on non-essential items.

Create a savings plan: 

It is important to save money for emergencies and for your future goals. You can start by setting aside a small amount of money each month and gradually increasing the amount over time.

Avoid unnecessary expenses: 

Try to avoid spending money on things that you don't really need. This can help you to save money and reach your financial goals faster.

Seek advice from financial experts: 

If you are unsure about how to manage your money or create a budget, you can seek advice from financial experts or organizations that can provide guidance and support. This can help you to make informed decisions about your money and achieve your financial goals.

With this small step, we are hopeful that we will be able to guide millions of workers and their families towards financial literacy and prosperity. So what do you think of this initiative? We look forward to your suggestions and feedback.