Don’t wait until you get your money right

In this day and age, financial education is important. The sooner you learn about managing and saving your money – and ultimately making your money work for you – the better.

As a parent, you have a responsibility to teach your kids about their finances in a safe and real way – and we’re not just saying this because we are a bank.

Sure, your kids aren’t necessarily financially independent, but now is a great time to start teaching your kids how to use their bank account and help them to become financially knowledgeable.  This will teach them about the value of saving, allow them to see their money grow and show them how they can stay in control of their finances. Kids are the economic contributors of the future, and it’s important that we educate and prepare them for this from a young age.

As part of Absa’s Shared Growth philosophy on financial inclusion, we have designed a great solution to ensure that we assist you and your kids on this path. How?  MegaU – a bank account for 0-19-year-olds. Not only is this offering designed to give the youth control over their money, it is also the only account on the market which is truly free. This means that there is no monthly fee. There are several perks to opening this account too. When we share, we grow, and when we grow, we all Prosper.

Click here to read more on the benefits of MegaU and the qualifying criteria.

You could also have a look at this blogpost on pocket money strategies for your kids.

Disclaimer: The advice contained on this blog is for general purposes only and does not take into account individual circumstances, objectives or financial needs. Accordingly, readers are advised to seek appropriate advice from licensed professionals prior to making any investment, or taking up a financial product or service.