Start early, succeed big: Teaching kids the value of money

In today’s tough economic times the majority of us are finding it hard to make ends meet, let alone put some money away each month due to the rising costs of just about everything and our high level of unemployment.

But if we want our children – and their children – to stand a chance later in life, saving is crucial. And so is teaching our children from a young age the importance of the value of money by showing how small contributions early in life can lead to significant wealth accumulation later on.Head of marketing at Momentum Investo Andile Jonas is not unrealistic when he says “financial freedom is a universal goal, achievable through diligence and planning, accessible to all”.

He believes “everyone can attain financial freedom and live life on their own terms”, provided parents “instil financial literacy from an early age, through chores, savings accounts, and real-world money decisions”. He teaches his son about earning, saving and spending responsibly, while highlighting the power of compound interest and investment.If we teach our children correctly from an early age, the chances of them navigating the tough road ahead will be made just a bit easier.

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Three African tech start-ups receive Madica kick-startThe Pan-African pre-seed investment vehicle finds its first set of portfolio companies to invest in, including SA start-up Newform Foods.
Source: ITWeb - 🏆 45. / 51 Read more »

Teachers sit unemployed as over 31 000 teaching posts lie vacant (VIDEO)'Unfilled vacancies see classroom overcrowding, which explains why some schools have up to 70 pupils sharing one teacher,' says the DA.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

Isuzu brings high-tech teaching software to disadvantaged schoolsThree high schools in the Eastern Cape will gain the benefit of the latest teaching software thanks to Isuzu South Africa.
Source: htxtafrica - 🏆 42. / 51 Read more »

Uganda: Why teaching and embracing Kiswahili remains a pipe dreamUganda’s dreams of teaching and embracing Kiswahili remains a fantasy as the country grapples with a history of its dislike for the language.
Source: TheAfricaReport - 🏆 29. / 55 Read more »

Early start for SA trio at the Masters golf tournament at AugustaEarly start for SA trio at the Masters golf tournament at Augusta
Source: City_Press - 🏆 7. / 72 Read more »

Kaizer Chiefs’ ‘highest earner’ anxiously waiting to learn his fate!Kaizer Chiefs have a tough decision to make on THIS star within the next two months as the season draws to a close.
Source: TheSAnews - 🏆 25. / 59 Read more »