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South Africa’s low savings rate plus high level of household debt equals financial stress. Add dismally low levels of financial literacy to the equation and the consumer is even more financially vulnerable.
It’s not rocket science, yet getting South Africans to save and “mind their moolah” is proving a complex problem to solve.
Smartbucks: mind your moolah is a new, locally produced film aimed at addressing this problem by teaching South African high school learners about money.
The 60-minute tongue-in-cheek film, which looks at the pitfalls of improper spending, aims to instil in youngsters a culture of saving and financial responsibility.
The film is a national financial literacy initiative sponsored by Stanlib Asset Management, credit bureau Experian, Bidvest Bank and the National Youth Development Agency, in collaboration with marketing company Primestars and the Department of Basic Education.
More than 15 000 high school learners – in Gauteng, the Western Cape, the Eastern Cape, the Free State, Limpopo and KwaZulu-Natal – will be given the opportunity to see the film at Ster-Kinekor cinemas on consecutive Sundays until June 10.
The film will not be open to the public; only to learners from the 250 schools that have been selected for the project. The key target audience for the film is learners in grades 8 to10, but learners in grades 11 and 12 will also be included.