16 Aug 2021

Talking about our finances openly and honestly with loved ones, especially children, releases the power that money has over us, says author Otisitswe Tawana-Madziba.

Thus, Tawana-Madziba said during a virtual book launch of her book titled Raising Money-Smart Kids Saturday August 14, was a practical guide for parents and caregivers (raising children aged 3-12) to guide them on how they could better empower their children with good money habits and money skills.

An economist by profession, Tawana-Madziba said the book was intended to help parents and caregivers to instill lessons from an early age to prepare them for a better future.

She said the impact of COVID-19 on families’ incomes had highlighted the importance of good financial management, particularly having multiple income streams and emergency fund, hence the reason behind creating the book.

“I have realised that such important money lessons should not only be for grown-ups, children should not be left in the dark because they too will eventually mature and handle their own money and face such unforeseen circumstances,” she explained.

She indicated that the book was structured into three parts; the first part focused on the money mindset, while the second and three parts covered money topics relating to pre-school and primary school going children, respectively.

She also highlighted that the book included money lessons that took into account the developmental stages of children and their different cognitive abilities.

Moreover, she said each chapter contained key takeaways and application exercises for parents to have a moment to reflect on how to apply the lessons.

“This is important as it motivates the reader to reflect and set action-oriented goals,” she said.

Coupled with a passion of financial literacy and empowerment aimed at young children, Tawana-Madziba said writing the book was a way to appreciate children by empowering them financially.

“Knowledge builds confidence to make a wiser decision and when you are knowledgeable it becomes easier to pass down the wisdom to your child by preparing them for a better tomorrow,” she said. ENDS