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Celebrating Children’s Day with Financial Literacy at Cowrywise

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How to create a budget for kids

Every year, on the 27th of May, the world comes together to celebrate Children’s Day- a day dedicated to recognizing and honouring children across the globe. 

At Cowrywise, we believe that one of the best ways to honor children is by equipping them with essential skills for their future. This year, we decided to celebrate  Children’s Day by sharing pivotal knowledge on an area we are passionate about- financial literacy.

Financial illiteracy is a significant issue that affects millions of individuals worldwide, leading to poor financial decisions and unstable financial futures. According to a report by the Central Bank of Nigeria, only about 38% of Nigerian adults are financially literate, underscoring the need for early financial education, which is why we’re taking this route to educate the younger generation about money, and money management.

Starting financial education at a young age lays the groundwork for a lifetime of smart money management. By teaching children about budgeting and other financial skills, we are helping them develop habits that will serve them well into adulthood, as it would help them grow to make informed financial decisions, avoid unnecessary debt, and build a secure financial future.

Teaching Financial Literacy in Schools

We had the opportunity to visit Gopherwood School where we spent the day teaching young pupils the fundamentals of financial literacy. Our primary focus was on the essential skill of budgeting- a foundational aspect of managing money wisely.

The excitement in the classroom was palpable as the children engaged in interactive lessons designed to make learning about money both fun and practical. Through games and different fun activities, we introduced them to basic financial concepts, teaching them how to allocate their allowances into different categories like savings, and expenses, and also teaching them about setting financial goals.

Our goal is to make financial literacy a lifelong journey, starting from childhood and continuing into adulthood.

Introducing Our Budgeting Workbook

To extend the impact of our financial literacy campaign, we have created a Kids Budgeting Workbook. This resource is specifically designed for children to help them learn and practice the basics of budgeting in a fun and engaging way.  Here’s what you’ll find inside:

  • Monthly Income and Expense Tracking: A simple section where kids can record their income from allowances or gifts and track their spending.
  • Visual Learning: Engaging graphics and colorful layouts that make budgeting fun and easy to understand.

Click here to download the kid’s budgeting workbook

Bottom Line

At Cowrywise, we are committed to fostering financial literacy from a young age, which is also why we started the Cowrywise Campus Ambassadors’ community for undergraduate students. Our Children’s Day exercise was another step towards ensuring that the next generation is better prepared to handle their finances. By teaching these children how to budget and save, we are planting seeds for a financially literate future.

We implore all parents and guardians to download and help their kids utilize the Kid’s Budgeting Workbook. It’s an excellent resource to start your children on the path to financial literacy. By working together, we can create a future where financial stability and success are within everyone’s reach.

Happy Children’s Day from all of us at Cowrywise! 💙

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