Windhoek-For saving to become an ingrained culture, it is important that financial literacy is extended to the younger generation and teaching them the real benefits of saving.
Teaching children about the value of money at a young age will give them an understanding of what it means to save, to do financial planning and budgeting and helps steer them away from bad or unnecessary debt when they become working adults.
With the new year and a new academic school year, parents can give their children a financial head start by opening up a Bank Windhoek Solo Account, a savings and transaction account tailor-made to the needs of children and young adults up to the age of 18 years.
The Solo account offers no monthly service fees, free ATM withdrawals at Bank Windhoek ATMs, access to Cellphone Banking for features such as airtime top-up, EasyWallet and payments to beneficiaries, favourable interest on funds in the Solo Account, free balance enquiry and a mini-statement at Bank Windhoek ATMs as well as debit and stop orders that can be linked to the account.
The Solo Account also comes with a Visa Electron Debit card, allowing children to shop at their favourite shopping outlets without the risk of carrying cash. Paying with their Solo Debit card at the Bank Windhoek Point-of-Sale (POS) devices also has the additional benefit of no transaction fees for their purchase. Children can also choose their Solo card from a range of four funky Solo Visa Electron Debit card designs.
“Teaching children about the value of money at a young age will give them an understanding of what it means to save, do financial planning and budgeting and steer away from bad or unnecessary debt, when they become working adults,” says Hayley Allen, head of corporate affairs at Bank Windhoek.