Love your kids? Teach them financial literacy!
According to the World Bank and Standard & Poor, only about 33% of the world’s adult population are financially literate. In other words, only 33% of adults worldwide understand how money works, which enables them to make informed and effective decisions with their financial resources.
If you’re reading this article, you might form part of the 33% who doesn’t recognise that money makes the world go round or understand how to make and work with your money. The sad thing is that financial literacy is probably not something you learnt at school. And yet, imagine how different – and simpler – your life could have been if you had gained insight on how to work with your personal finances when you were a child.
It was exactly this realisation – that kids aren’t taught enough about money and personal finance management – that inspired Kathryn Main to start Money Savvy Kids, an organisation that teaches kids that “money is something to be understood and respected”. When she realised that her own son quickly picked up on financial management principles and grasped financial literacy concepts with ease, Kathryn started focusing on teaching other young kids about money matters too.
It comes as no surprise that young children are natural and savvy money ‘managers’ if you consider the fact that children’s neural pathways develop rapidly between the ages of 4 and 12 years – making it the ideal time to teach them about these essential life skills that will set them up for long-term success.
Alan Greenspan famously stated that “the number one problem in today’s generation and economy is the lack of financial literacy”. Money Savvy Kids believes in combatting this crisis by empowering all kids from a young age. Join us in the financial literacy revolution and visit www.moneysavvykids.co.za today.