Parents Advised to Teach Children the Importance of Saving.

 

The government, through the Ministry of Finance, has urged parents and guardians to teach their children the importance of saving money, to help them build a better future. This advice was given by Mr. Salim Kimaro, Senior Chief Officer of the Financial Sector Operations Department, during ongoing seminars in towns and villages in Rukwa region, including Kipeta Primary School in Sumbawanga Rural District.

Mr. Kimaro explained that teaching children to save is a crucial step in preparing them to have financial security. "Many children admitted that they did not know that when they are given money, they should spend some and save the rest for future use when their parents might not have money to give them," said Mr. Kimaro.

Furthermore, Mr. Kimaro highlighted that various institutions, such as banks, are now offering financial education to childr

en on how to save money. He encouraged parents and guardians to take advantage of these opportunities for their children's benefit. "Currently, there are many institutions providing financial education to children. It is important for parents to utilize these opportunities to build a strong financial foundation for their children," he added.

In the seminar, Mr. Kimaro emphasized the importance of budgeting to the students. He explained that in order to save money, it is essential to first plan the expenditure of the money given by their parents. "Children need to learn how to budget. They should first plan how to spend the money given to them by their parents, and then save what remains," he said.

Additionally, Mr. Kimaro stressed that saving is a way to avoid debts and financial problems arising from daily expenses and other living costs.