Teach Children To

Save Summit

2014

ActivitiesActivitiesActivities

Opening Prayers

National Anthem

Address

Keynote Address & Goodwill Message

From Central Bank of Nigeria

•Theme Song lyrics for TCTS Summit

•Music Interlude

Theme Song The Future

La la la la la la la la..aaaah (X 6)

The futureIs in our handsThe choice we make todayTomorrow counts

and if we choose to "save"Yes ''we will have''When rainy days are goneWe would survive

Very simple words are spoken to wiseOnly the unwise will never understand That the future is at hand

Oh yea...the future is at handOh...ooh yea...the future is at hand.

Lets Talk About

MoNey

Do we want more MoNey?

Why?

What is MoNey?

• MoNey is primarily a medium of exchange or means of exchange. It is a way for a person to trade what he has for what he needs/wants.

• MoNey has three critical characteristics: – it acts as a medium of exchange

– it is an economic good

– it is a means of economic calculation

What is MoNey to you?

• Money is simply whatever money can buy or be exchange for

• Money is everything you have• Taking care of what you have is the beginning

of knowing how to save money

Why do you need to save MoNey?

• You cannot have all the money you need all the time

• You need to prepare and plan for the future• You can have what is most important to you all

the time

Identify the difference between needs and wants

One of the most important things to help you learn more about money and start savings is to know the difference between something that you ‘need’ and something that you ‘want’

Need? SOMETHING THAT YOU NEED IS

SOMETHING YOU CANNOT LIVE WITHOUT, SOMETHING YOU MUST HAVE

Want? SOMETHING THAT YOU WANT IS

SOMETHING YOU WOULD REALLY LIKE TO HAVE BUT CAN LIVE WITHOUT

Need

Want

Need & Want

• Cell phone• Bus fare• Toys• Chocolate• Soap

Examples of Need & Want

• House• PlayStation• Food – cakes, bread,

vegetables, TFC, fast foods, ice cream, candy, sweets, biscuit,

• Soccer boots• School books• School fees

• Camera• A pet • Water• Movies• School uniform• Music CDs• Rain coat• Books

Need and Want Activity

• Need

_____________________________________________________________________________________________________________________________________

• Want

_____________________________________________________________________________________________________________________________________

• Jumai Ajayi, 14 years old, attends Living Spring High School. Today she received N200 pocket money. The tuck shop has some of her favourite snacks, so Jumai bought two pieces of cake at N45 each, even though her mummy packed lunch for her. She also bought her friend, Susan a beef roll for N50. Later in the day she bought bottled carbonated drink for N60. Jumai has no allowance left at the end of the day.

• Jumai’s parent usually pick her up after school but that afternoon, the principal received a call stating that Jumai should go home by bus/taxi because the mum was attending a program outside the city and she might not get back on time to pick her home. Jumai has no money to pay her way home.

Lets Discuss

• What are her choices now?

• Should she have done anything differently today?

• What are the lessons we can learn from Jumai’s story?

What are her choices now?

• Trek home if the house is not too far• Borrow money from her friend• Borrow from her teacher or the

principal

Should she have done anything differently today?

• Should not have bought the snacks because her mother packed lunch for her• Spent less on snacks• She should not have bought snacks

for her friend

What are the lessons we can learn from Jumai’s story?

• It is not good to spend all your money• It is good to save• Knowing the difference between need

and want will help you manage your money better

Importance of Teaching Children Money & Budgeting• Everyone needs to understand about money• Literally, Nigeria is a nation of consumers with savings

and debt out of balance• Cannot afford to raise another generation of spenders • Teens lack money know-how • Help children managing money and dealing with risk and

return • Reduce stress and increase satisfaction with life• Set kids well on their path to financial freedom• Children can enjoy life-long benefits from good money

habits

Wealth Circle

Why Financial Literacy

Financial Literacy is important in that every individual has to make a financial decision no matter what career you choose

Financial Literacy gives you the ability to use credit responsibly, the confidence to manage money and financial risks and to understand the long term benefits of savings

There is increasingly a large choice of financial products available and one needs financial literacy to be able to choose the right one

In an increasingly sophisticated financial market individuals need to make informed choices

Financial literacy provides a platform for financial inclusion Inappropriate financial decisions can have long-term negative

effects Financial literate individual manage their money better Knowledge is power, financial knowledge is financial power Financial knowledge is vital for financial success

The Ant Bank Concept

• The Ant is small yet, it thinks for the future and its wellbeing.  The question is how? It saves enough food during summer that will last for the whole winter. Ants cannot survive on the land in winter, they hibernate, and that is why they gather food during summer for winter season.  Zak the Ant will be empowering the society to be financial literate

• Reasoning behind the Concept is based on the bible verse of King Solomon’s Proverbs 6:6

Go to the ant, you sluggard one; consider its ways and be wise! An ant is an animal of little strength, yet it is exceedingly wise. It has no commander, no leader, no overseer, ruler or chief.                           

Yet it prepares and gathers its food at harvest and stores its provisions in summer, getting ready for winter, so that when winter and time of hibernation comes it has no worry but plenty to eat. How long will you lie there, you sluggard one? When will you get up from your sleep? A little sleep, a little slumber, a little folding of the hands to rest, and poverty will come on you like a thief and scarcity will attack you like an armed man/robber.

Thank you

By; Laja ShoniranManaging Consultant Infinite Intel Consult

HR Training, Recruiting & Financial Literacy/Inclusion ConsultantsProject Director

Financial Literacy for All (Teach Children to Save Initiative)

Tel: 08023005235

E-mail: lajashoniran@yahoo.com or themoneyschool@yahoo.com

Facebook: www.facebook.com/TeachChildrenToSaveInitiative