Videocation: Teaching Through Visual Storytelling

 

Main Multimedia and Money Savvy Kids (MSK) recently joined forces with First National Bank (FNB) to create videos that teach to the problem, not the tools via ‘teachable moments’ relevant to the specific life-stages of an individual’s life.

Found under the MFM Money umbrella, Main Multimedia, a full-service advertising agency, and MSK, a financial literacy and entrepreneurial programme for kids as young as four, has collaborated with FNB to produce quality work that is undoubtedly seen in a total of ten innovative videos.

The animated videos are a visual feast of entertaining yet informative content for both the young and old to familiarize themselves with financial lingo that they would otherwise not comprehend. Financial concepts such as budgeting, saving, expenses, debt, and many more are covered in the videos. An unconventional approach to explaining the concepts in question was embraced by all parties involved. The result of all the hard work and sweat are ten videos that will catch the imagination of its audience while grooming them to become a financially savvy one, too.

Ditch the pen and paper by watching these videos so the financial expert in you can come out when it matters most. Get your learn on so you can lead a financially savvy life today.

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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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Traditional banking vs Digital banking

Money Savvy Kids is a financial educational curriculum that is set to educate children and parents about financial matters and financial management.

Banking is one of the methods used to manage your money, monitor your spending habits and keep your money safe.

The thought of Opening a bank account using the old, traditional way of having to physically go into the bank, can be a bit of a daunting experience. One has to stand in long queues and carry a load of documents needed to open the bank account in question. Since everything was done manually and no technologically advanced software available at the time. Thanks to the changes in the past few years, technology and new innovations has changed the future of banking operations making it easy, fast and stress free to open a bank account. Opening a bank account is as easy as opening one’s laptop and do the entire process online.

Although known to be a safe and trusted method for many years, Traditional banking has an array of disadvantages. The standard operating hours, 8am -4pm on weekends and 9am – 1pm on Saturdays, mean Consumers have limited access to the bank and are restricted to do banking activities when its more convenient for them. Additionally, when the time does allow for the consumers to visit the bank, standing in queues, sitting inside the bank waiting for bank advisers for assistance, making larger money withdrawals, or transferring money from one account to another as some banks have limited ATM access is not an ideal way for one to spend their Saturday morning. Additionally, the cost of going into the bank to do basic transactions like printing statements comes at a cost.

Fortunately, thanks to The digital and mobile technology banks have to offer such as cell phone banking, web and phone applications, online banking website, utilizing their services without having to go to the bank and spending hours standing in long queues has become as easy and effortless which literally requires a laptop or a cellphone with internet connection and an internet connection.

Digital banking has changed all of that, opening a banking account has been made so easy that you can do it at anytime, anywhere and stress free at the comfort of your own home. It’s also has many benefits that will assist you and save you not only money but time as well.

There are many benefits of using digital banking methods because there is no more rushing to the bank over lunch time or Saturday morning to do all your banking needs like making a deposits or making a withdrawal.

With digital banking it is possible to do everything online from simple transactions to complicated transactions such as applying for a mortgage or deleting a debit order.

Digital banking has improved access and ease of availability of banking services to customers. The comfort of round-the-clock banking has definitely made life much easier and productive. Technology is a great enabler, making banking more accessible and reducing costs for consumers.

The advantage of technical developments, has changed the banking industry in a big way. it allows you to conduct various transactions using the bank’s website and offers several advantages like: Core Banking, Internet Banking, Mobile Banking, ATM online transfer services, Online and mobile banking is simple to open and easily accessible at any time of the day, week or month. it is convenient as you can easily pay your bills, transfer funds between accounts, 24/7 access to make any type of transactions you want to make, having unlimited access to your mobile banking makes it easy to track what is happening with your accounts.

This shows that times have changed and the evolution in the banking industry will someday result in having branchless banking in the future.

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Stokvels as a Saving Method

MoneySavvyKids is a financial educational curriculum that is set to educate children and parents about saving, spend, tax and Budgeting and many more saving and investing methods.

Stokvels is one of the oldest saving method used by people as a means of saving money. There are many Stokvels associations in South Africa that you could join in order to save and invest money.

Stokvels are group savings schemes providing for mutual financial assistance as well as social and entertainment needs.

Stokvels are seen as a traditional way to save as it is safe and has been around for many years. The name stokvel comes from the term stock fairs, as the rotating cattle auctions of English settlers in the Eastern Cape during the early 19th century were known.

Stokvels are request of only twelve or more people per club functioning as a rotating credit unions or saving system in South Africa. Members contribute fixed amount of money to a central fund on a weekly, fortnightly or monthly basis.

Stokvels usually have a constitution which dictates the size of the contributions, when the accumulated money is to be paid out and the roles and responsibilities of the members. Each month a different member of the club receives the money in the fund, which was collected during that period. Defaults on contribution are very rare as other members will know if one person haven’t paid your contribution, and also because there are regular meetings held as they are a reminder of what you will gain when it is your turn. Depending on the type of stokvels, the members can use the collected fund for their own use, for payment or investment purposes.

These take different forms depending on the purpose of the scheme… ranging from burial stokvels, savings/money stokvels, grocery stokvels to investment stokvels to birthday celebration stokvels. Burial stokvels have higher membership and are highly concentrated competed to the other stokvels according to stats.

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It is estimated that one in every two adults in South Africans is a member of at least one of 89 000 stokvels or investment system. Black adult South Africans invest approximately R12 billion in stokvels a year.

Stokvels are a strong market in the area of traditional collective saving, and are estimated to be worth R25 billion. There are 8.6 million stokvel members in South Africa which represents 23% of the adult population and an estimated 421 000 stokvels in total. This is according to African Response’s latest survey on the status and market potential of stokvels.

Contact Person:
Name: Kathryn Main
Position: Managing Director
Email address: kathryn@mainmultimedia.co.za
Phone: +27 (0)79 3700 601

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Teaching through entertainment: Gamification

TEACHING THROUGH ENTERTAINMENT: GAMIFICATION

Gamification originated as a marketing tool as a means to get people to enjoyably and creatively engage with a brand or product. This technique proved so successful that it has carried over into the world of education. The core of gamification is the way in which users are engaged to solve problems by means of the game mechanics.

Now, it’s not to say that it’s all about the game and playing it. It’s more about applying one’s knowledge and understanding in a real-world situation. Furthermore, when one is enjoying something that is mentally stimulating, the brain releases dopamine, which is a naturally occurring endorphin linked to enjoyment. When this is experienced during a learning process, the likelihood of the information being understood, retained and recalled is increased across the board.

As a rule of thumb, those who use gamification as a tool for education, there are a few check boxes that should be ticked in order to full entrench the platform as well as the message. These include:

  • Creativity and an interesting concept
  • Mechanics that reward the user, such as badges, leaderboards, etc
  • Game currencies which are used to improve the overall gameplay itself

By engaging users in a manner that excites, challenges and rewards, gamification is the best way to get users to learn, without feeling like they’re going through the (sometimes laborious) process of learning.

Why are we in such debt?

The internet loves making lists of things, from top 10 beaches you have to see, to the top 10 restaurants in your area. So it’s no surprise that there’s a list of the top 10 reasons why people fall into debt. Some are fairly obvious, some are a little more excusable and one is absolutely ridiculous.

Bankrate.com’s list of the top 10 leading reasons for debt starts off with reduced income/savings. That stands to reason. Next up is divorce, followed by an important one, namely poor money management. The list goes on through unemployment, gambling, medical expenses, saving too little, no money-communication skills, banking on a windfall and finally, yes FINALLY financial literacy.

It’s no wonder that as South Africans, 70% of adults are in debt when financial literacy’ comes in at number 10. It begs the question, if financial literacy was at the top of the list, would there be a list at all? There are glaring inadequacies in the education system, from junior school right the way through to tertiary education that does not include any sort of formal financial literacy.

The lynch pin of education is that, when done correctly, can eradicate an abundance of unnecessary shortfalls when education is lacking.

There is no use in trying to solve our financial problems if we don’t understand finances in the first place. Our lack of financial literacy in this country breeds a society that is constantly playing catch up with their finances and, worse still, putting out fires constantly.

Until we see a shift in paradigm that sees financial literacy (or lack thereof) as the number one cause for debt and financial instability, we’ll spend our lives reading about the top 10 beaches to visit, as opposed to going to see them for ourselves as a result of our financial instability.

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