Senior Officer from the Department of Financial Sector Development at the Ministry of Finance, Mr. Salimu Kimaro, provided financial education on savings and budgeting to students at Mwika Secondary School, located in Mwika Kaskazini Ward, Moshi Rural District, Kilimanjaro Region.
Students of Mwika Secondary School attentively listen to a financial education session on the importance of saving, delivered by the Assistant Director from the Ministry of Finance, Department of Financial Sector Development, Ms. Dionensia Mjema (not in the picture). The session was held at Mwika Secondary School in Mwika Kaskazini Ward, Moshi Rural District, Kilimanjaro Region.
By Eva Ngowi, WF, Kilimanjaro
The government, through the Ministry of Finance, has advised parents and guardians to instill a culture of saving in their children to help secure their financial future.
This advice was given by the Assistant Director from the Ministry of Finance, Department of Financial Sector Development, Ms. Dionensia Mjema, during ongoing seminars in towns and villages in Kilimanjaro Region, including Mangi Mariale Secondary School in Mwika Kusini Ward and Mwika Secondary School in Mwika Kaskazini Ward, Moshi Rural District.
Ms. Mjema stated that teaching children to save will help them develop a strong financial foundation and stability.
"Many children admitted that they were unaware that when they receive money, they should use part of it and save the rest so that they have funds available in case their parents are unable to give them money," said Ms. Mjema.
She further explained that various institutions, such as banks and collective investment schemes managed by UTT AMIS, provide financial education for children on how to save. She emphasized that parents and guardians should take advantage of these opportunities for their children's benefit.
Earlier, while addressing students at Mwika Secondary School, Ms. Mjema encouraged them to cultivate the habit of budgeting so that they can set aside savings from the money given to them by their parents for daily expenses and purchases.
Additionally, she highlighted that saving is a strategy to avoid debt resulting from daily expenses and other financial obligations.
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