Saving is a skill that should be taught at a young age, according to Ren Grobler, head of Investec Cash Investments, and Brod Von Brughan and Associates CC, principal and insurance broker Brodwyn Von Brughan.
They shared tips on how to help children develop good financial habits and become lifelong savers.
Fostering healthy money relationshipIts important to have a conversation with your children about money, says Grobler.
This includes concepts like the value of money, spending wisely, and understanding the difference between instant and delayed gratification.
Making these discussions relatable and practical, using everyday examples will help kids understand these concepts better. Parents shouldnt shy away from having these conversations from an early age with their children, adapting the conversation to be age-appropriate.
