Smart Savers
11 - 14 Years
Ready To Become A Smart Saver?
You've learned that saving and spending are both about making good choices with your money. Now that you're a little older, it's time to take your money skills a step further! You will learn how savings accounts work and discover how people turn everyday problems into business ideas. Get ready to explore, think creatively and make smart money decisions!
Savings - What Is A Savings Account?
A savings account is a safe place at a bank where you can keep money that you don't want to spend right away. You can put money into the account when you save, and you can take it out when you need it, following the account's rules. Some savings accounts may also pay you a little extra money called interest. For example, if you receive K50 and decide to save K20, you could put the K20 into your savings account instead of spending it. A savings account can help you keep your money safe while working towards your goals.
Why Is A Savings Account Useful?
A savings account can help you keep track of your savings and make it easier to save towards something important. Instead of keeping all your money in your pocket, you can put some aside for a future goal. Maybe you are saving for a bicycle, school supplies, a special gift or something you want to start a small business with. Remember, saving a little regularly can help you reach a bigger goal over time!
Entrepreneurship
What Is A Business?
A business is an activity where people provide goods or services to other people in exchange for money. A good is something you can buy, such as bread, clothes or school supplies. A service is something someone does for you, such as cutting hair, repairing a bicycle or designing a poster. Businesses try to solve people's needs and wants while earning money.
Can Children Have Business Ideas?
Yes! You can start thinking like an entrepreneur at any age. You might notice that your classmates need something or that people in your community would like a useful product or service. With guidance from a parent, guardian, teacher or other trusted adult, you can explore your idea and learn how a small business works.
Can A Problem Become A Business Opportunity?
Absolutely! Entrepreneurs often notice a problem or something people need and think of a way to solve it. For example, imagine that pupils at your school often forget to bring pens. You might think, "What if I sold affordable pens at school?" That problem could lead to a business idea.
Try asking yourself:
What problem do I see?
Who has this problem?
What could I do to help?
Remember: Great business ideas often start with simply noticing a problem and thinking of a helpful solution.
Activities - My Mini Business
Download this activity sheet and plan your own mini business.