• Home
  • Blog
  • Community
  • Knowledge
  • Cover Stories
  • Startup Stories
  • Playbooks
  • Podcasts
  • Português
    • Events Homepage & Booking
    • Start-Up Night Africa Series
    • Lioness Lean In Series
    • Lionesses of Africa Annual Conference
    • Harvard University / Lionesses of Africa Conference
    • Young Lioness Lean In Series
    • About Us
    • Impact Partners
    • Contributor Team
    • Contact
    • Join the Community
    • Signup for FREE Newsletters
    • Share Your Startup Story
    • Share Your Lioness Launch
    • Share Your Lioness Co-Lab
    • Become a Contributor
    • Nominate to '100 Lionessess'
    • Become an Impact Partner
    • Contact LoA
Menu

Lionesses of Africa

276 5th Avenue
New York, NY, 10001
(212) 634-4540
The Pride of Africa's Women Entrepreneurs

the pride of Africa's women entrepreneurs

Lionesses of Africa

  • Home
  • Blog
  • Community
  • Knowledge
  • Cover Stories
  • Startup Stories
  • Playbooks
  • Podcasts
  • Português
  • Events +
    • Events Homepage & Booking
    • Start-Up Night Africa Series
    • Lioness Lean In Series
    • Lionesses of Africa Annual Conference
    • Harvard University / Lionesses of Africa Conference
    • Young Lioness Lean In Series
  • About +
    • About Us
    • Impact Partners
    • Contributor Team
    • Contact
  • Connect +
    • Join the Community
    • Signup for FREE Newsletters
    • Share Your Startup Story
    • Share Your Lioness Launch
    • Share Your Lioness Co-Lab
    • Become a Contributor
    • Nominate to '100 Lionessess'
    • Become an Impact Partner
    • Contact LoA

Creating Money Savvy Kids for the future

January 14, 2023 Melanie Hawken

by Kathryn Main

Ask any child what they want to be when they grow up and you will hear things like; “I want to be a doctor”, “I want to be a pilot”, “I want to travel the world” or “I want to save the whales”, but dreams cost money and if dreams cost money why are we teaching our children  to live the life of their means  and not live the life of their dreams? Financial freedom starts with financial education!

Children as young as three-years-old start to develop the cognitive skills necessary to understand basic financial concepts, such as identifying coins, how to count change, and matching small amounts of money to items they want to buy at the tuckshop every Friday. Here are simple ways to teach your kids the value of money and the importance of saving.

Saving for BIG things

Kids these days always want the coolest and newest gadget, toy or piece of clothing that are trending.  This means that parents tend to be the ones who are stuck with the bill on a weekly basis. Parents can change this by simply switching from giving hand-outs to giving hand-ups. Teaching your eight-year-old to save for big things that matter to them is a great way to make them understand the importance of delayed gratification. Talking to them and ascertaining what it is they want and the sensible reasons behind their choice before encouraging them to save up for it themselves is the best way for them to engage with the concept of saving and its foundations.

Having their goal of saving for that specific item written down makes it more concrete for them and you. And keeping track of their weekly savings allows them to physically see how far they have come in achieving their goal. Parents can make it a tad more interesting by adding R10 for every R50 they have saved up until they reach their goal. It is also important to note that the time frame of the goal itself is important. Young children tend to have a shorter patience clock compared to older children who have already reaped the rewards of previous savings goals. The recommended time frame is 3-6 weeks for kids below the age of 7 and between 3 and 6 months for kids older than 8.

Get them on a budget

There will always be that one thing, place or person that constantly causes you to make poor spending choices. Well, that ‘list’ also applies to your kids. The tuckshop in school and friends are the top two main reasons why your little one repeatedly ask for spending money each week. Getting your twelve-year old to realise how recklessly they are spending each weekend because of the pressure to keep up with friends is of critical importance to their future spending habits. Simply setting a budget for their tuckshop and constant weekend excursions can have them changing their spending patterns for the better. Having to spend their own cash and knowing that it is for the whole month will have them thinking smarter about where, when and how much they need to spend their money so it can stretch far enough to reach the next time they are due to get their allowance. They will reach a point where they find themselves ‘living’ on a very tight budget and must cut back on spending. This is the point where they will learn the true value of money and the skill it takes to balance it with their wants and needs in later life.

Making mindful financial choices around your kids allows them to respect money and what it can do when handled with responsibility. Setting the best example possible when it comes to your own bank balance will influence your kids to not only save money so they can enjoy the big and small things in life, but also provide them with the foundation to get themselves out of tight financial situations and lead money savvy lives going forward.

Did you know that 70% of income earning South African’s are over indebted. This means they are living on debt to make it through each month. This is due to lack of financial education and having bad financial habits and behaviours.

Financial education can make a difference, says Kathryn Main, Managing Director of Money Savvy . “It can empower and equip young people with the knowledge, skills and confidence to take charge of their lives and build a more secure future for themselves and their families. 

Money Savvy is revolutionising the way financial knowledge is disseminated to younger generations of South Africans. It is questioning the traditional schooling system, which currently produces more followers than leaders. It instils within children – from a very young age – the problem-solving and critical thinking skills they need to make financial decisions now and, in the future, using the analytical skills they learn through the program.

Download our free E-Book “How to Raise Money Savvy Kids” here:  https://www.moneysavvyhumans.co.za/products/money-savvy-kids


If you are looking for words to describe Kathryn Main, CEO the Money Savvy brands, quirky, determined, visionary and masterful are just some that spring to mind. Kathryn is an author and award winning businesswoman and has won awards for her advertising agency as well as Money Savvy Kids. Kathryn has a passion to change the face of education on the African continent through financial literacy education and training. The Money Savvy brands are revolutionizing the way financial knowledge is disseminated to younger generations of South Africans. Money Savvy Kids + Teens promotes in youth the skills, knowledge attitudes and behaviors required to be financially independent.

www.moneysavvykids.co.za | kathryn@moneysavvykids.co.za

More articles by Kathryn

Featured
10 Benefits of Individual Financial Coaching in Today's Challenging Economic Climate
Jun 23, 2024
10 Benefits of Individual Financial Coaching in Today's Challenging Economic Climate
Jun 23, 2024
Jun 23, 2024
Building Teams and Networks
Aug 20, 2023
Building Teams and Networks
Aug 20, 2023
Aug 20, 2023
Personal development is a continual, unending journey
Jul 23, 2023
Personal development is a continual, unending journey
Jul 23, 2023
Jul 23, 2023
How to automate for success
Jul 15, 2023
How to automate for success
Jul 15, 2023
Jul 15, 2023
Marketing that works
Jul 1, 2023
Marketing that works
Jul 1, 2023
Jul 1, 2023
Compliance For Success
Jun 4, 2023
Compliance For Success
Jun 4, 2023
Jun 4, 2023
Creating Cash Flow
May 19, 2023
Creating Cash Flow
May 19, 2023
May 19, 2023
Creating access to markets
May 5, 2023
Creating access to markets
May 5, 2023
May 5, 2023
Building a Brand. What is branding, exactly?
Apr 15, 2023
Building a Brand. What is branding, exactly?
Apr 15, 2023
Apr 15, 2023
What’s in a name?
Mar 31, 2023
What’s in a name?
Mar 31, 2023
Mar 31, 2023
Why would I say yes to debt?
Mar 19, 2023
Why would I say yes to debt?
Mar 19, 2023
Mar 19, 2023
What do you think you need to start a business?
Mar 8, 2023
What do you think you need to start a business?
Mar 8, 2023
Mar 8, 2023
In Guest Blog Tags Kathryn Main, Financial Planning
← Not sure if your business needs a rebrand? 5 Crucial Interpersonal Skills For A Successful Career →

CELEBRATING 10 YEARS


LATEST PODCAST

LIONESSES OF AFRICA · AI Series - Navigating Artificial Intelligence In The Workplace

Lioness Radio Show Special Episode: Navigating AI in the Workplace - Tune in for an engaging conversation designed to equip you with the knowledge to embrace AI and unlock its possibilities for your business.


LIONESS WEEKENDER COVER STORIES

LIONESS WEEKENDER COVER STORY
Zanele Njapha, a transformational business leadership coach
Zanele Njapha, a transformational business leadership coach
Mekdes Mesfin, a proudly Ethiopian fashion designer and manufacturer
Mekdes Mesfin, a proudly Ethiopian fashion designer and manufacturer
Emilia Chisango, a multi-faceted business empire builder
Emilia Chisango, a multi-faceted business empire builder
Morongwe Mokone, a passionate champion of artisanal homeware
Morongwe Mokone, a passionate champion of artisanal homeware
Tshego Molefi, a pioneer transforming the waste management industry
Tshego Molefi, a pioneer transforming the waste management industry

IMAGE OF THE DAY. CELEBRATING WOMAN MADE IN AFRICA.

Image of the Day / Adèle Dejak

Big bold accessories…We are big fans of luxury jewellery and accessories made with love and passion on the African continent, and Adèle Dejak in Kenya is the epitome of handmade luxury. The brand c
Image of the Day / ReelFruit
 
Healthy snack treats…We love showcasing Africa’s women agribusiness builders, and ReelFruit, founded by Affiong Williams, is inspirational - it’s the largest fruit processing, packaging and distributi
Image of the Day / Dokmai Rwanda

Made in Rwanda Handbag…A passion for handcrafted accessories, combined with a sense of pride for ‘Made in Rwanda’ products, inspired Dokmai Rwanda founder, Bernadette Umunyana, to create a company
Image of the Day / Eki Silk

Silk Serenity…Nothing is quite as luxurious as silk, that’s why we love the ‘Africa on Silk’ collections from Eki, founded by Hazel Eki Osunde. Her latest Deep Dive Collection is inspired by the p
Image of the Day / The Nanjala Company

Pot plants delivered… Give gifts that will last, such as these stunning plants in individual pots from The Nanjala Company in Kenya, founded by Teresa Nanjala Lubano. This online store creates customized
Image of the Day / Sari for Change

Sustainable Sari Glamour - If you want to wear a robe that makes you feel and look glamorous, then Rayana Edwards, founder of Harem in South Africa, has a range of fabulous robes all made from sari fabrics. She has
Image of the Day / MonChoco

Pure chocolate heaven…If you are a chocolate lover, then you need to experience raw chocolate at its finest, and Dana Mroueh, founder of MonChoco an artisan chocolatier in Côte d’Ivoire, has just what y
Image of the Day / Mulandi Brindes

Say it with flowers…If you want to make someone feel special, then there is no better way than with the gift of fresh flowers, and Mulandi Brindes in Mozambique, founded by Vanessa Guilherme Nhabete, creates
Image of the Day / Mariée Eventos

The Wedding Planner…Every big celebration day needs great organization, and that’s where Iris Lezi Munguambe, founder of Mariée Eventos in Mozambique, is your go-to person. She launched he
Image of the Day / Dounia Home

Statement lighting… from Dounia Home, the home of innovative, handcrafted and ethically made Moroccan lighting and home decor founded by Dounia Tamri-Loeper. Her company designs, produces and brings to market hi
Image of the Day / Adèle Dejak

Big bold accessories…We are big fans of luxury jewellery and accessories made with love and passion on the African continent, and Adèle Dejak in Kenya is the epitome of handmade luxury. The brand c Image of the Day / ReelFruit
 
Healthy snack treats…We love showcasing Africa’s women agribusiness builders, and ReelFruit, founded by Affiong Williams, is inspirational - it’s the largest fruit processing, packaging and distributi Image of the Day / Dokmai Rwanda

Made in Rwanda Handbag…A passion for handcrafted accessories, combined with a sense of pride for ‘Made in Rwanda’ products, inspired Dokmai Rwanda founder, Bernadette Umunyana, to create a company Image of the Day / Eki Silk

Silk Serenity…Nothing is quite as luxurious as silk, that’s why we love the ‘Africa on Silk’ collections from Eki, founded by Hazel Eki Osunde. Her latest Deep Dive Collection is inspired by the p Image of the Day / The Nanjala Company

Pot plants delivered… Give gifts that will last, such as these stunning plants in individual pots from The Nanjala Company in Kenya, founded by Teresa Nanjala Lubano. This online store creates customized Image of the Day / Sari for Change

Sustainable Sari Glamour - If you want to wear a robe that makes you feel and look glamorous, then Rayana Edwards, founder of Harem in South Africa, has a range of fabulous robes all made from sari fabrics. She has Image of the Day / MonChoco

Pure chocolate heaven…If you are a chocolate lover, then you need to experience raw chocolate at its finest, and Dana Mroueh, founder of MonChoco an artisan chocolatier in Côte d’Ivoire, has just what y Image of the Day / Mulandi Brindes

Say it with flowers…If you want to make someone feel special, then there is no better way than with the gift of fresh flowers, and Mulandi Brindes in Mozambique, founded by Vanessa Guilherme Nhabete, creates Image of the Day / Mariée Eventos

The Wedding Planner…Every big celebration day needs great organization, and that’s where Iris Lezi Munguambe, founder of Mariée Eventos in Mozambique, is your go-to person. She launched he Image of the Day / Dounia Home

Statement lighting… from Dounia Home, the home of innovative, handcrafted and ethically made Moroccan lighting and home decor founded by Dounia Tamri-Loeper. Her company designs, produces and brings to market hi

STARTUP STORIES. MEET THE WOMEN WHO’VE LAUNCHED.

Featured
Suné Theisinger and Dr Juanri Jonck, two dynamic players in the aesthetic industry in South Africa
Suné Theisinger and Dr Juanri Jonck, two dynamic players in the aesthetic industry in South Africa
Tania Kabeya, a passionate chef and entrepreneur building a uniquely African culinary brand
Tania Kabeya, a passionate chef and entrepreneur building a uniquely African culinary brand
Aasiyah Adams, a visionary South African tech founder helping individuals and organisations to thrive in the digital economy
Aasiyah Adams, a visionary South African tech founder helping individuals and organisations to thrive in the digital economy
Komeshni Patrick, a tech legal consultancy founder empowering forward-thinking tech businesses to grow
Komeshni Patrick, a tech legal consultancy founder empowering forward-thinking tech businesses to grow
Lebo Biko, a South African champion of women-led innovation in Africa’s agri-food value chain
Lebo Biko, a South African champion of women-led innovation in Africa’s agri-food value chain

LIONESS DATA & INSIGHTS


LIONESS PLAYBOOKS



Screen Shot 2020-01-27 at 6.01.32 PM.png
Screen Shot 2020-01-27 at 5.34.58 PM.png

Sign up today to receive the #1-rated newsletters for Africa's women entrepreneurs.

* indicates required
Required: Please select your newsletter(s):


LIONESS BOOK REVIEWS

Featured
Babette’s Bread by Babette Kourelos
Babette’s Bread by Babette Kourelos
SOS – A Navigation Guide for Women at Work by Lidewij Wiersma, Chantal Korteweg, Tessel van Willigen and Marijn Wiersma
SOS – A Navigation Guide for Women at Work by Lidewij Wiersma, Chantal Korteweg, Tessel van Willigen and Marijn Wiersma
Unstoppable Entrepreneurs: 7 Paths for Unleashing Successful Startups and Creating Value through Innovation by Lori Rosenkopf
Unstoppable Entrepreneurs: 7 Paths for Unleashing Successful Startups and Creating Value through Innovation by Lori Rosenkopf
Afro-Optimism Unleashed by Adeolu Adewumi-Zer
Afro-Optimism Unleashed by Adeolu Adewumi-Zer
No More 24/7: Entrepreneurs, Take Your Life Back by Catherine Cowart Roe
No More 24/7: Entrepreneurs, Take Your Life Back by Catherine Cowart Roe

About Us  |  Contact Us  | PRIVACY POLICY | terms OF SERVICE  | Community Guidelines  

© 2025 LIONESSES OF AFRICA public benefit corporation. ALL RIGHTS RESERVED.