How South African families can teach kids about money
While April is widely recognised as Financial Literacy Month globally, it's also a timely reminder for South African families to build money-smart habits together. It's never too early to start teaching children about money. The lessons they learn now can shape their habits and confidence later in life. And the best part? You don't need to be a financial expert to raise a financially savvy child.
Money is often seen as a grown-up topic, but research shows that children as young as three can begin understanding basic money concepts.
'If you want to change a nation, start with the family,' says Heartlines, a South African non-profit promoting values-based storytelling. Their short film Side Dish is part of the 'What's Your Story?' campaign, an initiative that helps families discuss values, including finances.
Children become more confident and responsible with financial decisions by normalising money conversations at home.
As children grow, their understanding deepens, and so should your conversations. Be honest about budgeting, explain debit vs. credit, or even involve them in planning a family outing.
Use government resources like the National Consumer Financial Education Policy, or check if your bank offers financial literacy tools for youth.
You don't need elaborate lessons or spreadsheets. Just use everyday moments: Story time with a twist : Choose books or short films like Side Dish that spark values-based money chats.
: Choose books or short films like that spark values-based money chats. Start a piggy bank : Encourage children to save coins they receive and set a small goal — like buying a toy.
: Encourage children to save coins they receive and set a small goal — like buying a toy. Grocery shopping together : Show them how you compare prices and stick to a list.
: Show them how you compare prices and stick to a list. Use local apps/tools : Explore South African platforms like Smartbucks , EduLoan , or banks that offer kid-friendly savings accounts.
: Explore South African platforms like , , or banks that offer kid-friendly savings accounts. Ask reflective questions: 'Do you want to spend or save that birthday money?' These small prompts encourage critical thinking.
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