Activities at the Makhaza winter school are in full swing, with one of the Wednesday and Thursday morning sessions being financial literacy training presented by Capitec Bank to all the pupils. During these sessions, learners had the opportunity to share their career ambitions, and more specifically where they saw themselves in the next 10 years and what they hoped to save up for. Groups included pupils who hope to become financial risk managers, business owners, world travellers and computer scientists, to name but a few. When it came to the items they’ll be saving for, undoubtedly top of the list was a home for mom and flashy cars for themselves.
The Capitec Bank team then ran through the elements required to achieve those objectives, highlighting a key to saving is one’s ability to differentiate between what qualifies as a need and a want. The pupils shared some of their thoughts and understandings on the matter and it was determined that everyone’s needs and wants are different. For example, many of the pupils shared their views on the importance of education but whether education qualifies as a need or a want was a contested issue.
Other topics covered were drawing up a budget, making the commitment to stick to that budget and save, and opening a Global One savings account with Capitec Bank to manage that process. The session closed off with a Q & A where a few goodies were handed out.
Thanks Megan and your team!!
Lloyd Lungu