The Importance of Teaching Children to Save in South Africa
Society as we know it, has undergone many changes throughout the last century, we have, as the human race progressed in all areas of our development. Physically we excel in sport, mentally in technology. However, with these advances and through the capitalistic nature of our actions, we have made learning more complicated for children. Let us learn by doing! Support volunteer Bankers and financial sector professional as they trade their offices and boardrooms and "make sense of cents" through being "teachers-for-67minutes"
The most effective method or principal for total recall is making use of as many senses as possible while learning. If we see, if we hear and if we touch we can in most cases remember even the smallest of details. But with the quest to simplify processes, we have started eliminating the use of some of our most basic senses and with that, made it more difficult to learn.
Money as a tangible medium that could be physically saved, was a simple principal and easy to convey. But we have complicated saving through technology, as we develop new methods of spending though: debit and credit cards, through internet transactions and online purchases. The system now is far more complicated and children have to learn the new system in order to become financially responsible.
Being financially secure is something that each of us strive for and the earlier a foundation in financial literacy can be introduced, the better off the person will be. Teach Children to Save South Africa is an initiative started by the Banking Association of South Africa with the goal of helping young adults become “money wise”. We believe that through delivering fun and dynamic training in financial responsibility, we can help the next generation of leaders plan better for all of our futures.
The Lesson plan of TCTS SA is located within the economic Managment Science Subject of the school curriculum.
We Salute and honour the educators of South Africa
Bringing Money into the Classroom
Alternatively you can download the materials and utilise them on your own time.
Some quick ideas to get started
Teaching children to save can become part of your everyday routine in the class. Here are a couple of ideas to help you get started:
- Start a savings jar in your class for art materials etc.
- Create a money raised chart to show the progression of the savings.
- Run the Teach Children to Save Programme during your classes.
- Invite a volunteer from the bank to talk to your class about saving.
How did it go? We want would appreciate details and any pictures you can provide us with. With feedback we can fine tune our strategy and provide volunteers / teachers with better resources and more targeted materials, please take a moment to tell us all about your experience.