To commemorate this year’s World Savings Day, an edtech firm, 9ijakids in partnership with Kidpreneur Africa and Access Bank has introduced a savings challenge for children starting from November one.
The challenge which will last for 30 days followed a training and awareness campaign organised for children on savings habit.
The World Savings Day is observed globally every October 31 to increase public awareness on the importance of savings and financial literacy for both economies of countries and individuals alike.
The organisers noted that the 30-Day Savings Challenge would enable children to have a hands-on experience by practicing what they have learned from the training and get them into the habit of saving.
Speaking further, Co-founder of 9ijakids, Titilope Adewusi enlightened that savings goes beyond financial security but also teaches children discipline and delayed gratification.
“Research has shown that children’s financial habits are learnt at an early age from their parents. Most children know how to spend money from an early age which is why it is very important to teach them that money isn’t just for spending—they should be saving and investing money regularly, too.
“During the challenge, children will be required to open a bank account, save money daily/weekly and deposit their savings in their account. At the end, children will have opportunities to win cash prizes to help them towards their saving goals”.
Founder of Kidpreneur Africa, Juliet Vincent-Obi added thus, “Good savings habit combined with budgeting allow children to develop financial discipline, a skill applicable to other areas of their life.”
