#money-tips | 2 min read
Kids talk moneyBy TymeBank - 12 November, 2020
You’re never too young (or too old) to learn about financial literacy. After all, reaching your potential starts with talking about the basics – and taking those first baby steps.
If kids can talk about money, why can’t we? We chatted to a group of money-savvy 5-year-olds about money. We asked them what things cost and how to get saving. It’s a really funny video to watch!
What to teach kids about money?
- Tell them how much things cost
- Set an example
- Show them how to budget
- Show them how to save
- Teach them the difference between wanting something vs. needing something
Start young with financial literacy
The earlier you can teach your kids about financial literacy the better. There are many companies that specialise in financial education for kids or you can find some great videos online. You can also open an EveryDay Personal Account with TymeBank for your children to use when they are old enough or if they are 16 years or older, they can open their own account.
What you will need:
- Your South African ID number.
- Your South African cellphone number.
- You must be 16 years or older to open a TymeBank account.