How to make savings matter from a young age
ENCOURAGING YOUR kids to save from a young age is important, as it sets them up for the future.
South Africa has one of the lowest savings rates in the world. At 16.3%, we need to start helping our future generations understand the importance of saving, and guide them in building healthy and solid relationships with money.
Conversations around saving and spending are crucial life skills, as they help shape our children’s attitudes about money from a young age. Children start understanding the concept of money at a very young age. It’s at this point that we need to start inculcating the value and importance of effective and creative money management principles.
We could influence the way our children save or spend their money through on-going conversations. These conversations should revolve around …
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