EVERY child dreams of what they want to be in the future. Kutlwano Morore dreams of owning his own business.
The 11-year-old grade 5 pupil, from Ikaneng Primary School in Diepkloof, is already learning about the business his uncle runs.
“My uncle gives me pocket money every week. He makes me count it but some of it stays with him and I get the rest. He also makes me count the money in the cash box and I must tell him what I counted.
“I now count the money I take to spaza shops and I count all the change to make sure it’s right.”
However, there are many children who do not have Kutlwano’s opportunity to learn from a business at home. This is why Mzansi produces so few businessmen and women with the needed financial skills.
Recently SunMoney spoke to Kathry Main. She is the founder of Money Savvy, an organisation that empowers youth with financial training and awareness.
“Money Savvy Kids is a financial literacy programme for primary school-going children. We aim to make sure South African kids get the skills to work their way out of poverty and stay out.
“Our programmes are run in classrooms and paid for by the pupils’ parents. The financial skills courses range from grades R to 7 and combine coursework with extra lessons and practical tests.
“Poor financial decisions can have a long-lasting impact on individuals, their families and society. Low levels of financial literacy have also been associated with a lower standard of living, decreased psychological and physical wellbeing and greater reliance on government support,”
Here are some of the tips she gave about teaching children financial literacy.
- Children should start learning financial literacy from the age of five.
- Toys and games such as Monopoly can be used to help kids understand money matters better.
- The current school curriculum does not teach financial literacy but it needs to be made a subject at schools.
- Parents must make financial literacy an enjoyable activity for kids including practical examples because this allows kids to apply these skills to other areas as well.
