When you teach your kids the value of saving at a young age, you set them up for a life of financial confidence. A type of confidence that opens doors to possibilities, future success and the financial freedom to go after their dreams. That’s the power of saving.
The fantastical and fun Sanlam Savings Jar app teaches kids about the value of saving while their very own dragon helps them grow and protect their treasure.
Kids take on the exciting role of young dragon masters who embark on a quest to save shiny silver coins in a virtual jar. As their treasure grows, their dragon grows too, catapulting them into a world of imagination where they can learn the value of setting goals and working towards them.
The app is designed for kids to use with their parents.
That means you’ll be able to help your little one along on their epic saving quest and approve all app activity with a security passcode.
It’s easier to reach your saving targets when you set a specific goal, like saving for your child’s education. Much like fitness trackers use targets to help us meet our wellness objectives, goal-based saving inspires us to stay on track with our long-term financial objectives.
Use our savings management application, available exclusively through Sanlam financial advisers or accredited brokers.
Save for your long-term goals from as little as R350 per month without paying tax on interest, dividends or capital gains.
With no minimum investment period, you can grow your money with flexible, customised unit trusts from R500 per month.
Teach your kids the value of saving by opening a SatrixNOW tax-free savings account in their name. Satrix has no minimum investment amounts, so you can save as much or as little as you want.
Here are five tips you can use at home. Remember, the earlier they start saving, the better!
Help your little ones understand the difference. A ‘need’ is something you must have. ‘Wants’ are something they can wait for. Use your own budget to show them how ‘needs’ come first.
Explain how adults earn money by working for it. The ATM isn’t a magic money machine. It works just like their savings jar – they can’t take out coins that they haven’t put in.
Help them choose a goal and discuss how long they will need to save for it. Pick a small and achievable goal for their very first saving quest to help them practise.
Give your little ones three jars. One for saving, spending and sharing with someone in need. That way, they can visualise their money growing and what it’s going towards.
The best teacher is you! Talk to your kids about the need for saving before spending and what you as a family can save for together.