Money school addresses low financial literacy in youth
The nine-week programme will teach basic financial skills and the concepts of investing, as well as budgeting, saving and managing debt, to Grade 11 and 12 learners.
INVESTING in financial literacy, The Money School programme returns with Satrix as their sponsoring partner. The Money School programme is a virtual learning platform with interactive lessons that are live-streamed to a learner base of over 45 schools throughout South Africa.
The Money School programme offers financial literacy content by financial experts aimed at Grade 11 and 12 learners at predominantly quintile 1-3 schools nationwide.
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Explaining more about the programme, Lucky Mothibi of The Money School said the programme is centred around basic financial skills and the concepts of investing, as well as budgeting, saving and managing debt.
“These sessions provide learners with vital financial tools needed in everyday life, an invaluable skill set to make them financially knowledgeable future decision-makers. An understanding of basic financial concepts not only enables young South Africans to better navigate their personal financial futures but is also essential for those wanting to become small business owners.
“With small businesses contributing up to 34% of the total GDP and growing, encouraging successful entrepreneurship goes hand in hand with better financial education amongst those nearing the end of their school career,” said Mothibi.
Mothibi said through appropriately crafted financial literacy programmes like The Money School, the financial behaviour of young individuals can be moulded so they’re prepared to meet long-term financial objectives in the future, such as investments, insurance, financial planning, retirement and credit solutions.
Speaking more on the intention of the programme, Duma Mxenge, Business Development Manager at Satrix, said children who are provided with good financial education as they grow up are less likely to get into debt and are better prepared to save and invest.
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“At Satrix, we are passionate about educating South Africans about investing – and showing that investing is easily accessible, affordable, and a powerful tool for people to become financially resilient and to create wealth. If the core principles of growing wealth rather than living beyond your means can be landed early, an individual’s financial journey can be a very successful one.”
Any schools or individuals interested in signing up for The Money School, launching on 12 October, can contact 011 467 3341 or email admin@creativespacemedia.co.za.
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