PROVIDING financial services and teaching children about saving and managing money is paramount, just like teaching children in classroom, Rigo MP, Ano Pala says.
Pala said the time was right for the Government should do necessary reforms in the education system to teach financial management as one of the core subjects in schools. “After all, when we provide education or trainings to our children or anyone, at the end they are working to earn money and spend to earn a living,” Pala said. “And that points down to the very fundamental aspect that we must teach financial literacy and sound financial management to our children at an early age. “We have to teach them at the primary levels how to budget money and the importance of saving. “Why not in the primary schools, is there anything wrong? “Most of us face financial difficulties because we cannot manage properly the little income we earn. “We earn enough to save up and meet the cost of our children and the family, but the greatest problem is that we cannot budget properly and spend wisely. “And that is the result of lack of knowledge about budgeting, saving and spending. “And the lack of knowledge points down to the lack of teaching and training.” Pala presented K100,000 to Bank South Pacific last Thursday to open a Kids Savings Account for each child in Grade one to 8 in his district. He said the project would continue next year and beyond with new children registering at Grade one to be issued with a savings account with BSP. He said they would be looking at improving resource materials and teaching children about financial management at the primary schools in the district. “My government will make sure we teach the basics of business to our children at all primary schools in the district,” he said.
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