Spend wisely says Talk Money Speech Contest Winner
"Plan for the future as a young people and stop being victims to the culture of following trends."
WINNER of the Talk Money Speech Contest in 2012, Mondli Ngwenya has cautioned the youth about the culture of following trends. Ngwenya, in an interview with the Berea Mail, said he had noticed a lot of people put themselves in bad financial situations so that they could keep up with trends. Ngwenya is currently studying towards a BCom degree in Finance at the University of Johannesburg.
“My business studies teacher told me about the competition and I was very keen to enter it because of my passion for finance. The competition was very tough but I believe everyone who takes part in the competition is not looking to win, but to learn as much as possible about money. As I am currently at University, I have taken the lessons I learnt from the competition, on how to spend money wisely,” he said.
The finance student said: “It is important we plan for the future as a young people and stop being victims to the culture of following trends, because a lot of people are putting themselves in bad financial situations so that they can keep up with the trends. People must learn to live on a budget which is specific to them and them only, at least save 25% of your income,” he said.
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The speech contest is open to all public schools in KZN in quintile 1-4. All Grade 11 learners taking Business, Commerce and Management (BCM) subjects and learners intending to pursue a career in financial planning can enter. A minimum of two BCM subjects and Mathematics is an important requirement for a learner to qualify for the competition. Entrants and their schools stand a chance of winning fantastic prizes including laptops, tablets, data projectors and stationery. The grand prize includes a bursary to study towards a Bachelor of Commerce Finance Degree, which covers tuition fees for the duration of the degree sponsored by the Financial Planning Institute.
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