Help your kid become money-smart

Nyamu recalls an incident in which one of the children challenged her parents to open for her a proper bank account instead of the piggy bank she was operating.

“Her mother took her to the bank and when they sat down with the bank officer, the young girl confidently announced that she would speak for herself.

The mother watched in awe as her 11-year-old daughter negotiated the interest rate for a savings account and argued her case with the officer,” she narrates.

She also recalls the case of a 13 year-old boy who started making and selling cards at school.

“He makes them during his free time on weekends and saves part of what he earns. This boy will be way ahead of his peers 10 years from now,” she remarks.

Many parents spend a lot of time trying to orient their children on other life-skills like communication, hygiene and etiquette, but with the rate at which life is changing, they would be well advised to consider doing the same with money.

mmwololo@nation.co.ke