Kids get smart with money

Friday, March 15, 2013

Pretoria – The distribution of money boxes and new money note brochures will form part of the activities lined up for Global Money Week.

Previously known as International Children's Finance Week, the week officially gets underway today, and will wrap on 21 March.

It is an initiative of the Child and Youth Finance International global movement, which provides a platform to engage meaningfully with children and youth on money and finance matters.

It is for the second year that countries across the world will celebrate Financial Inclusion and Economic Citizenship Education for children and youth.

KwaZulu-Natal Financial Literacy Association champion, Finance MEC Ina Cronjé, the Banking Association of South Africa and other members of the association have urged people of the province to take part in the week’s activities and to do it for themselves.

“It doesn’t have to be something big and it doesn’t matter whether you are a bank, a governmental institution, an NGO, a school or an individual.

“This comes with an opportunity for all of us in our respectful professions to make time to sensitise our youth on the value of money and the rewards that come with delayed or deferred gratification,” said Cronjé.

She said schools can participate in the week by hosting their own events; teaching financial topics; arranging special events with other schools in their regions and arranging visits to the banks.

They can also invite bank representatives to explain how a bank works; organise drawing competitions on financial matters for children; organise an essay contest on financial matters; hold a savings drive to encourage children to save and explore entrepreneurship opportunities to earn money.

Senior General Manager at the Banking Association of South Africa, Fikile Kuhlase, said their efforts were aimed at positively influencing consumer financial behaviour and attitude.

“We look forward to successful celebrations of the Y-Generation’s financial inclusion and economic citizenship,” said Kuhlase. –