South Africans are some of the worlds worst savers but a Non-Government Organisation has been teaching kids the importance of saving and breaking the cycle.
July is South Africa’s National Savings Month, a report was released listing South Africans as some of the worlds worst savers.
Many blame the low income and high cost of living but according to statistics the Chinese earn far less and manage to save nearly 50% of their GDP, according to the Financial Services Board (FSB). So how does one turn these statistics around?
By teaching the youth of course! The Heartlines Centre for Values Promotion, is educating school children on the importance of making saving a habit from an early age. The NGO has reached more than 165 000 people through their Values and Money campaign, which targets parents, teachers and learners at schools and training colleges.
“Community engagement is the first step towards encouraging the youth to be financially conscious,”
“Children are not taught to save or manage their money and this is affecting their lives as they grow up. We need to talk about saving at a school level with learners, teachers and parents.” – Zamabongo Mojalefa, Heartlines Values and Money Project Manager
The organisation is working to create a a nation of savers. Their aim to emphasis the values such as honesty, diligence and thrift. They mainly target school assemblies and Life Orientation lessons.
“We try equip the youth with knowledge and a sense of confidence in their ability to save for themselves no matter what their income is, we also engage with teachers to allow for financial learning to go beyond the classroom.”
Saving a little bit per month from a young age can make a huge difference. Especially in the lives of children and their families.
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