The initiative, a product of asset management company Stanlib, has been running for four years and, by using an educational movie to spread the message, emphasises the importance of young people being financially literate.
Stanlib chief economist, Kevin Lings, stressed the importance of instilling financial discipline in young people and the far-reaching consequences of doing so.
“[This] will help build a stronger savings culture in our country and turn the tide against over-indebtedness and the vulnerability it brings,” he said.
He added that South Africa had seen a decline in savings since 1994, and saving rates have deteriorated significantly over the past few decades making people very vulnerable.
To this end, the Smartbucks: Mind your Moolah 3 is both educational and entertaining to its young audience while stressing the important theme of financial literacy.
The film tackled some of the biggest challenges facing the youth, including over-indebtedness and wasteful spending, by using real-life scenarios in a game show setting.
The 60-minute movie will also be shown to high school pupils across the country from May to June at selected Ster-Kinekor cinemas, as well as on mobile screens in rural areas.
The movie launch took place at the Rosebank Ster-Kinekor and hosted three schools, namely, Boitumelong and Phomolong secondary schools and Sir Pierre van Ryneveld High School.
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