Migrants form the backbone of many modern economies. They fill vital skills gaps, contribute to cultural diversity, and drive entrepreneurship across sectors. Yet despite their immense value, many migrants face significant barriers when it comes to navigating financial systems in their new country.
At YENOM, we believe financial literacy must include — and actively empower — those who have historically been left out of the conversation.
Why Financial Literacy Matters for Migrants
Migrants often arrive in a new country with a wide range of skills and qualifications, but limited knowledge of how local financial systems work. Tasks that may seem basic to others — opening a bank account, setting up utilities, applying for credit, or understanding tax obligations — can be confusing, intimidating, or simply unfamiliar.
This disconnect can lead to:
- Reliance on cash or informal financial services
- Vulnerability to scams or predatory lending
- Difficulty accessing housing, employment or education
- Long–term challenges in building credit, savings or financial security
The result is not just financial exclusion, but systemic disadvantage that can persist across generations.
The Barriers Are Structural — Not Personal
It is important to be clear: the issue is not a lack of intelligence or ambition. It is a lack of access, information, and inclusion.
Common challenges include:
- Language barriers — financial terminology is often complex, and not available in multiple languages
- Low trust — migrants may come from regions where institutions are unstable or unsafe
- Cultural mismatch — mainstream financial products may not reflect migrants’ values, norms or lived realities
- Digital exclusion — limited access to technology or online tools, especially for older migrants
Unless these barriers are acknowledged and addressed, financial literacy Programs will continue to underserve those who need them most.
The YENOM Approach
YENOM works to build financial confidence, not just financial knowledge.
We do this by:
- Offering multilingual resources and visual learning tools
- Partnering with community organisations and cultural leaders
- Providing low–cost or free access to financial education through the YENOM Foundation
- Using narrative–based learning to make complex topics relatable
- Training peer educators within communities to deliver support in a trusted way
By working with — not just for — migrant communities, we help individuals reclaim control, dignity and long–term financial wellbeing.
Real Impact, Real Stories
In partnership with local councils and community centres, our pilot Programs have helped:
- Migrant women set up their first independent bank accounts
- Newly arrived families understand tenancy agreements and budgeting
- Older migrants learn how to avoid scams and access support services
- Refugees begin saving regularly for the first time in their lives
These are small steps with powerful ripple effects.
How You Can Help
If you’re part of a migrant community, an NGO, a local government body, or a corporate inclusion initiative — we’d love to work with you.
Together, we can:
- Deliver tailored financial literacy workshops
- Train local volunteers to become Money Mentors
- Distribute accessible tools and guides
- Create long–term, sustainable change
Contact us at amanda@yenom.co to start a conversation.