{"id":13220,"date":"2017-05-16T10:25:59","date_gmt":"2017-05-16T09:25:59","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=13220"},"modified":"2017-05-16T10:25:59","modified_gmt":"2017-05-16T09:25:59","slug":"may-27-why-early-lesson-on-cashless-is-vital-to-childs-financial-freedom-says-heritage-bank","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/may-27-why-early-lesson-on-cashless-is-vital-to-childs-financial-freedom-says-heritage-bank\/","title":{"rendered":"May 27: Why early lesson on cashless is vital to child\u2019s financial freedom, says Heritage Bank"},"content":{"rendered":"

As part of effort to further deepen the Central Bank of Nigeria’s cashless policy, Heritage Bank Plc, has called for early lessons for teens on how to perform basic banking tasks, as a basic tools necessary for children’s financial freedom.<\/p>\n

In a statement made available to the media, the bank highlighted the importance to educate children on the cashless policy by showing them how prepaid card transactions work and how to use ATM cards to deposit and withdraw.<\/p>\n

This is coming on the heels of the commemoration of the May 27 to mark Children Banking Month, with the theme, \u201cEarly Positioning for Glocal Relevance,\u201d which is part of Heritage Bank\u2019s children financial literacy initiative.<\/p>\n

The Heritage Children Banking Month, which activities will directly impact a minimum of 350 primary and secondary schools nationwide this year, is in recognition of the pivotal role children play as the leaders of\u00a0tomorrow.<\/p>\n

Altogether Heritage bank at the end of the month would have imparted financial education on over 1,000 schools across the country since commencing this programme two year ago, an initiative that the vibrant and dynamic financial institution also considers as a corporate social responsibility.<\/p>\n

Speaking on the importance of the celebration, the Managing Director of the bank, Ifie Sekibo stressed that for early positioning of your children for global and local relevance, there was need for parents to teach children on prioritize saving over spending, which is a valuable life lesson, one that takes time to learn.<\/p>\n

According to him, opening a savings account for your child is ome of the best ways to introduce that concept at an early age.<\/p>\n

“Walking into a branch office is a good way to help your child become familiar with routine transactions involving his or her account. Your child\u2019s online habits, even financial, can be important, too, so check for features such as monthly statements and controls on payments and transfers from savings accounts. You can teach money management and internet safety together,” Sekibo said.<\/p>\n

He noted the need for parents to develop series of simple games to teach children about money with good saving habits, which becomes part of their normal development, saving for the future is likely to become a habit.<\/p>

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Meanwhile, the high points of the commemoration will be the selection of 10 students between the ages of 5 to16 years from the six geo-political regions who would be invited to assume various banking roles for the day.<\/p>\n

Children who are account holders of \u2018Bud Account,\u2019 as well as prospective account holders from each of the regions will be allowed to participate in a competition to produce 60seconds video showcasing how \u201cGlocal you are,\u201d which would elicit social media votes.<\/p>\n

Best 3 videos to be used on all social media platforms on the week of children\u2019s day would be presented a tablet each as a special prize.<\/p>\n

The MD added: \u201cThe project is part of Heritage Bank\u2019s contribution towards transforming the nation in paying more attention to the bud stage. This underscores our belief that if we get it right with the children, then the future of the nation is guaranteed. At Heritage Bank we believe in creating, preserving and transferring wealth.\u201d<\/p>\n

Whilst advising parents on opening Bud Account, Sekibo noted, \u201cwhen your child receives birthday money, or cash from chores, have them put some into the bank to save for bigger ticket items.\u201d<\/p>\n

Hundreds of exercise books, pencils, water bottles, umbrellas will be won by pupils, parents and wards in the course of the month through various engaging activities.<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

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