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Money loves those who treat it well!

“Some people dream of success, while others wake up and work hard at it. Money can grow - but we must make it grow.”

This was the message of the MEC for Finance in KwaZulu-Natal (KZN) at Chibelihle Combined School in Impendle yesterday where the 2014 Teach Children to Save - KZN campaign was kicked off.

Ms Belinda Scott, the champion of the KwaZulu-Natal Financial Literacy Association (KZNFLA) appealed to children in the Province and the country to become money smart from an early age.

“Smart money habits begin early. Our country needs financially smart children if we want our children to be financially secure adults. It is proven time and time again that children who are exposed to financial education concepts are more likely to become financially independent.

The world of finance does not only exist for adults. We can’t have children growing up to adulthood without knowing how to handle money. Adults who don’t know how to manage their money get themselves into trouble, which could have been prevented had they known more about the cost of living, the debt trap, saving and good spending habits.

A culture of saving will not be learnt overnight and the earlier our children start, the quicker they will learn the value of saving. A saver becomes an investor and habits learnt from a young age will lead to smart financial decisions later in life.”

She commended the Banking Association South Africa for this great programme designed to provide children with the skills they need to manage their finances.

“It’s been an amazing experience. I have been one of the volunteers who have gone to the class, very enthusiastic learners. But I must say that it has also been mind boggling to hear that some of the learners here have never seen an ATM with their naked eyes. But it was an overwhelming interaction because our three strategic objectives are Financial Literacy, Financial Inclusion and Small and medium enterprises (SME) Development” said Banking Association South Africa senior General Manager, Ms Fikile Kuhlase who was elated by the successful official launch of the 2014 Teach a Child To Save in KwaZulu-Natal.

The School Principal, Mr Sifiso Mbelu, said “we are a rural school, there are no banks in this area, and most of the kids here have never come across banking facilities. The topics covered were relevant because we also cover them to a certain extent in our EMS subjects. This initiative exposed our learners to better understanding of what we always try to teach them even though its content and facilities that they do not physically come across in their area. Even the pamphlets that were brought by different banks will help our learners to visualise the content”.

A grade 12 learner Nteboheng Matabane who was overjoyed and optimistic about his matric exams after the lessons said; “I have learnt a lot about the importance of saving money and how it can enhance one’s life. The young teachers from different banks boosted our moral. Now I am confidence that I will do well in my matric exams. They also taught us to start saving whilst we are young. When they explained it, it all came into perspective”.  

The KZN kick off started with a short ceremony, followed by teaching lessons by volunteer bankers. The teaching is not restricted to Chibelihle and to 28 July 2014. Partners can teach at other schools in other areas during the rest of the school year, provided that they contact the Banking Association of South Africa.

The savings lesson covers the basic concepts of saving:

• reasons to save
• budgeting to save
• understanding the difference between a need and a want, and
• where to save
• safety and security of savings
• basic investment concepts.

KZNFLA Chair, Mr Artwell Hlengwa said, “Through the partnership with Teach Children to Save, SA™ we can help thousands of children in KwaZulu-Natal learn how to save for the future and develop responsible financial behaviours that will last a lifetime. We encourage all role players to join and support the initiative.”

He thanked the sponsors and volunteer teachers:

Sponsors:

• Postbank
• FNB
• Provincial Treasury

The Banking Association South Africa volunteer teachers from:

• ABSA
• Capitec
• Financial Services Board
• FNB
• Ithala Development Finance Corporation
• Nedbank
• Postbank

For more information contact:
Ntokozo Maphisa
Cell: 082 773 0937