Making pupils cash wise

Tebogo Monama

Tebogo Monama

The Education Department and insurance giant Old Mutual yesterday launched a tool kit to improve pupils money-management skills.

The kit consists of games, activities, posters, flash cards and lesson plans. It is based on the Big 5 animals on banknotes. Each of the Big 5 secrets seek to impart important lessons to improve financial management and save money.

The kit has themes for each grade and is suitable for large classrooms. The A3-size charts fits on a school desk.

Education Minister Naledi Pandor said: "The kit is important for learners and their communities. In the future we hope that the kits will be small enough for pupils to take home and share with their families. It teaches basic financial literacy in a fun way," Pandor said.

Gavin Linders, Old Mutual's financial education manager, said: "The kit is suitable for all teachers, even those who do not have a background in economics. It aims to prepare pupils for their financial future," Linders said.

Lebohang Mkhize, Old Mutual's retail executive, said: "There are low levels of saving, a lot of indebted people and a lack of financial literacy in schools. Starting with these learners we will stop the rot," Mkhize said.