Entrepreneurship: Why we need to teach it to our kids

Ever wonder what Mark Zuckerberg, Steve Jobs, Bill Gates, Richard Branson, and Larry Ellison have in common? They’ve all dropped out of high school or university to make their entrepreneurship dreams come true. Sure, it’s a risky move, but it seems to have paid off, right?

As parents, we want to encourage our kids to play to their strengths. And we want to help them develop into successful, well-rounded adults who are equipped with everything they need to live long and happy lives. But we don’t necessarily want them to quit school to learn what they need to learn.

And that’s why Money Savvy Kids was started… To educate young children on what money is and how to work with it – so they don’t have to learn the hard way.

After all, entrepreneurship is on the rise, both in South Africa and internationally. More often we’re hearing about the gig economy (where people will not be employed full-time but will work on different projects that require their skills as the need arises) and freelancing.

Not to mention the intimidating report released by the World Health Organisation predicting that as much of 60% of the jobs our children will hold in future don’t even exist yet. This also highlights the need for new solutions through entrepreneurship.

Even our deputy president, Cyril Ramaphosa, recently stressed how important it is that we teach children about entrepreneurship, as it’s one of the sectors with the most growth and promise.

As parents, we all had algebra (for example) as a subject while we were in school, yet we hardly use it now. Imagine if the schooling system taught us to do our taxes instead. Now that’s a life skill we would actually use!

Don’t we as parents owe it to our children to equip them with entrepreneurship skills and enrol them in programmes like Money Savvy Kids and fast track them to success?

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Love your kids? Teach them financial literacy!

According to the World Bank and Standard & Poor, only about 33% of the world’s adult population are financially literate. In other words, only 33% of adults worldwide understand how money works, which enables them to make informed and effective decisions with their financial resources.

If you’re reading this article, you might form part of the 33% who doesn’t recognise that money makes the world go round or understand how to make and work with your money. The sad thing is that financial literacy is probably not something you learnt at school. And yet, imagine how different – and simpler – your life could have been if you had gained insight on how to work with your personal finances when you were a child.

It was exactly this realisation – that kids aren’t taught enough about money and personal finance management – that inspired Kathryn Main to start Money Savvy Kids, an organisation that teaches kids that “money is something to be understood and respected”. When she realised that her own son quickly picked up on financial management principles and grasped financial literacy concepts with ease, Kathryn started focusing on teaching other young kids about money matters too.

It comes as no surprise that young children are natural and savvy money ‘managers’ if you consider the fact that children’s neural pathways develop rapidly between the ages of 4 and 12 years – making it the ideal time to teach them about these essential life skills that will set them up for long-term success.

Alan Greenspan famously stated that “the number one problem in today’s generation and economy is the lack of financial literacy”. Money Savvy Kids believes in combatting this crisis by empowering all kids from a young age. Join us in the financial literacy revolution and visit www.moneysavvykids.co.za today.

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