Major South African banks (Absa, Nedbank, Standard Bank and FNB) appear to have made improvements in recent years in their accounts targeted at children. They’ve scrapped the monthly admin fees and lowered or gotten rid of some transaction charges....
As a mom, my goal is to see my two children grow up to be independent and to stand on their own two feet. A big part of this journey is financial education. You can give your children the best academic education you can afford, but if they don’t...
By Mark MacSymon, Certified Financial Planner and Wealth Manager at Private Client Holdings An increasingly common issue in South Africa these days is adult children still being financially dependent on their parents. This is due to low entry-level...
Yesterday marked the day that I had been a mother for exactly 16 years, as this year my son’s birthday fell on Mother’s Day. The very essence of being a mother is to put our children first, so yesterday was all about his big day ‒ so no breakfast...
In episode 14 of the Change in your Pocket series, we examine how best to go about discussing money with young children. http://www.youtube.com/watch?v=uoBHYWeKvGY&feature=youtu.be – Video supplied by BrightRock Welcome to The Change Exchange...
What's your child's money personality? Natural saver or spender? In episode 13 of the Change in your Pocket series, we give you tips on how to teach your child to save. http://www.youtube.com/watch?v=tpp9L7_Q_JU&feature=youtu.be – Video supplied by...
Episode 12 of the Change in your Pocket series looks at pocket money, and how you can use it to teach your children about the value of money and how to manage it. https://youtu.be/dFstCrhEcN0 – Video supplied by BrightRock Welcome to The Change...
I was fortunate growing up to have a really great mom. She was the kind of person one thinks of when you say “mother”. She was a really involved parent – she made the pom-poms for sports day, sewed pretty dresses for me, came to all the...
What is it about money that makes it so difficult to discuss with our children? While many taboos around discussing sex, drugs and politics have broken down, for some reason money remains a topic that many parents feel uncomfortable talking about....
Even if you have a natural saver on your hands, you still need to teach your child about budgeting and investing, as well as how to shop mindfully by comparing prices and understanding the value of what they are buying. Whenever I meet people whose...
When selecting a bank account for your child, first consider what they will be using it for and then look for one with the best pricing structure. A young child who is mostly saving will want an account with a high interest rate, while an older child who may be doing...
Bidvest Bank’s offering is perfect both for the young and old. Grandparents often want to open a bank account for their grandchildren to encourage them to save. The problem with many existing products is that there is always a monthly bank fee that eats into the...
I was recently relating a story to a friend about a conversation I had with my two boys aged 7 and 11 where they had grilled me on financial matters. They wanted to know if we owed money on our house and if our cars were paid off. They wanted to know what taxes were...