How Does Money Work?


There are many different areas of managing money and these can get pretty confusing. Thankfully the Savvy Savers are here to help, lets take a look at the different types of money that are being used all over the world.

Though the currency may not be the same all around the world, there are still basic principals that are. The banks have tried to make spending money safer for people, by creating newer and more advanced ways to spend. This is a good thing, it keeps people's money save from thieves, but it can sometimes be a little tricky to understand. Never fear, when Teach Children to Save is near, we have broken it down for you here, click on the links below to find out more.

Saving - What it is and the difference between WANT and NEED

Being careful with money can be simplified to understanding the difference between wanting something and needing it. Throughout our lives we will be exposed to clever marketing, which tries to convince us that we need products, when in fact we just want them. Being able to identify the difference between “need” and “want” can help us save. For example, you may need a jacket to keep yourself warm in winter, but do you need a jacket that has a fancy logo on, which is almost twice the price of another? I don’t think so.



Cash is king! Cash has been used throughout the history of money. In early days people used to trade without money because they had a need for something that other people had. For example, if you were a farmer and grew corn, you might have a need for meat from your neighbour the butcher. Knowing how much corn you would need to give the butcher started to get too complicated. So a simpler method was developed, the introduction of money. Because there was no formal form of money, people used rare items or metals to give the “money” value.

In South Africa we use the Rand. It’s a separate currency from the currencies of the world, though it can be converted for other currencies when we travel. Much like 10 chickens might equal 1 Cow, a few Rands are equal to a set amount of dollars, pounds, euros or yen. Lets take a look at some of the different amounts of money available in South Africa.

INTERESTING FACT: Cash has been around for thousands of years, people chose gold as a form of money because it didn’t rust or loose weight. Can you imagine selling your cows for iron, only to find out a year later that you iron has totally rusted away!



Because cash can be used by anyone it started attracting the attention of criminals. Money has become a big part of our lives, but carrying cash in our pockets left us vulnerable. That is why we created a safer form of money for users. The cheques of a person or company are the guarantee of payment, think of it as a kind of IOU note that gets cashed in at the bank.

When you take a cheque to the bank, the bank will take the money out of the account of the person that paid and put it in the account of the person that was paid.

Debit Cards


The world has changed over the years, but the biggest change started with the introduction of technology to the banking environment. Debit cards are linked directly to your bank account, when you spend money at the shop, the machine at the shop phones through to the banks computer which checks to see if there is enough money in the bank to pay. If there is, the money immediately leaves your bank account and is transferred to the shop you are paying.

Debit cards are very much like cash, because you can’t spend money that you don’t have. They are very convenient though, because you have access to all of your money, without having to carry all your cash in your pocket.

Credit Cards


The credit card is a convenient way to borrow money in a hurry, it is however a dangerous way to use money. The money you spend on a credit card is not your money, it’s money that belongs to the bank. For emergencies the credit card is a valuable tool. But remember, any money you spend that doesn’t belong to you, you need to pay back. You can’t save money if you owe someone else.

If you have a credit card there is a huge temptation to spend money with it. Many people do and end up not being able to pay back the money. If they can’t pay, the bank will sometimes take things like your TV or furniture and sell it in order to pay back the money you owe them.

Internet Transfers


Before the internet became available to the general public, people had to do transactions at the bank. With internet banking, much of the work that a typical bank branch would do, can now be done from the comfort of your own home.

This is a service that most banks now offer as a convenience and added service to their customers.

Welcome to the GAMES Page

Hey kids! Now you can play games that your parents will approve of! Take on your rivals in financial football, beat them by applying your skills as a savvy saver! Or if football is not quite your thing, there are many other games to play here!

What kind of games do you enjoy playing? Here are a couple of options that will have you learning to save in no time.



You’ve seen the words throughout the website, now help Curious Zanele to find them in our latest crossword puzzles.


Fill the Jar

Do you WANT something or NEED it? Sometimes the line between want and need can be pretty thin. Sometimes we want something so badly that we convince ourselves that we need it. Play Fill the JAR and learn to make assertive decisions in your journey to saving.


Financial Football

With the FIFA world Cup in 2014 now over, new champions can emerge! Use your knowledge of saving to take on the greats and bring them to their knees!

Saving - Need & Want

TIPS for Earning Money


Do you get pocket money? A lot of kids do, but that doesn’t have to be the only source of income you get. We have put together a page of tips to get you started in earning more money so you can save more.

So, you are ready to try your hand at business are you? Well that’s great and we want to help you get started. Business is a way of generating money and when you earn money, you benefit and those around you do too. How is that possible? You may ask. Well if you spend the money you’ve earned, you’ve bought something from someone, that person could not survive without the money you spend. This is the principal of the Savvy Saver’s “Cycle of Money”.

If you’re working and running a business, you can save money because you’ve got money to save. The money you earn is valuable because you spent your time earning it.

Safety First

Here are a couple of safety tips :

  • Always let your parent or guardian know where you are
  • Household chores can earn you money
  • Be committed to completing the work you sign up for
  • Be alert and don’t take rides from strangers
  • Make sure your Money Box is Safe!
  • Never ask strangers to help you with your ATM Transactions
  • Never disclose your ATM pin
  • Never let anyone distract you at the ATM

Take part in your schools "Entrepreneur Day"

Lets take a look at some of the types of businesses you can run:

Service Business
These types of businesses rely on you, or those that are helping you. Generally they require you to do work that others might not want to or are unable to do. For service business, you need to ask yourself if you have a skill or talent that someone would be willing to pay you for.

Buying and Selling Business (Retail)
These types of businesses usually have an expense of some sort that you need to pay for out of the money you make.

Setting up your business
The first thing you need to decide is if you are a service business or a buying and selling business, because each business plan will be very different from one another.

Here are a couple of ideas to get your minds started:

Mini Tuckshop
You can sell sweets and snacks to your schoolmates.

Parent / Guardian Helper
Help to make life a little easier for parents and Guardians. You could assist with feeding youngsters, playing with them or doing chores around the house.

House Cleaning
You could set yourself a goal of keeping the house clean or picking up after others, I don’t think there is a household anywhere that doesn’t need to be cleaned.

Car Washing
Get some friends together and wash some neighbourhood cars. Remember to ask for permission before you do though.

Animal Caretaker
If you love animals this would be a good one for you. You could wash and groom dogs or take them for walks.

Pet Sitting and Plant Minding
If you know there is someone in the neighbourhood who is going away on vacation you could offer to feed their pets and water their plants while they’re away.

If you like gardening, help you out with weeding, cutting grass, trimming or watering.

Make Trinket Jewelry
If you know how to work with a pliers you could make some trinket or costume jewelry or you could find nice looking rocks and paint them.

Bake some cookies
Get an adult to help you bake cookies to sell.

TIP: If you’re having a car wash or offering a service, make yourself an advert or flyer and hand them out in the neighbourhood.


Invite us to your School

There’s help out there if you need it, we have a group of volunteers that are willing to come out to you guys and help you and your class to save. All you have to do is ask. Fill in the simple registration form and we’ll add your school to or programme.

The Teach Children to Save volunteers are passionate about savings and about passing this knowledge on to you. Ask you teacher if you can invite us to your school and we’ll teach you all about saving, in a fun and creative way.

Tell us more about yourself and your school:



Some money saving tips





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