Financial literacy is an important life skill and children need to be aware of money and what it represents in their increasingly complex world.
Unfortunately, many parents are not equipped to teach this valuable skill to their kids. This is why Mothupi Kgopa wrote the book African Wealth: Little Money Bird.
Kgopa said: “In order to change the generational cycle of poor money management, we need to be strategic about education.”
Little Money Bird is a collection of bedtime stories that aims to teach children as young as six years about entrepreneurship and money.
Included in the book are instructions about collecting coins, incentives to get children to do chores, an explanation of compound interest, how to buy birthday investments, for children, how children can learn about investing in bonds and stocks and even an introduction to cryptocurrencies – which will probably be more prominent in their future.
Kgopa’s questions for parents
- Why is financial literacy not taught in school?
- Are your children learning about all they need on money to make better financial decisions in the future? ) What money values are you teaching at home?
- Are there any practical measures in the house to make sure that provide day-to-day activities about money and business which can give them a head start in their financial future?
- What investments are your children involved in?
“Parents need to seriously think about how they are preparing their kids for a better financial future.”
