The Reserve Bank of Malawi (RBM) on Tuesday launched this year \u2019s Global Money Week with a call to secondary school students to embrace a saving culture.<\/p>\n
Speaking at Thyolo Secondary School during the launch, RBM Chief Examiner Consumer Protection and Financial Literacy, Madalitso Chamba, said students need to learn how to save while they are young.<\/p>\n
Chamba said saving culture is a basic recipe for any growth be it at individual, household country level.<\/p>\n
She said it is only when people know how and when to save that they can economically transform their lives.<\/p>\n
\u201cSavings can create a difference in people\u2019s lives by providing another source of income. We are targeting students so that they develop a saving culture from an early stage and grow with it. This will help them not to face difficulties to save and invest once they start work,\u201d she said.<\/p>\n
Chamba said, Malawi\u2019s saving culture is not impressive.<\/p>\n
\u201cResearch has shown that Malawians are not proactive when it comes to saving. Malawians like to spend everything they get in a day and because of this, most Malawians do not have money for investment.<\/p>\n
\u201cWhen you look at economies that have developed and trace back their beginnings, you find that they have been saving,\u201d she said.<\/p>\n
One of the students, Veronica Savala, described the sensitisation by RBM a is an eye-opener, saying most students do not know how to save their money.<\/p>\n
She said by taking the message to the students, it will help the learners use their pocket money properly and also start planning for the future.<\/p>\n
This year \u2019s Global Money Week is being held under the theme \u2018Money Matters Matter\u2019.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Reserve Bank of Malawi (RBM) on Tuesday launched this year \u2019s Global Money Week with a call to secondary school students to embrace a saving culture. Speaking at Thyolo Secondary School during the launch, RBM Chief Examiner Consumer Protection and Financial Literacy, Madalitso Chamba, said students need to learn how to save while they […]<\/p>\n","protected":false},"author":3,"featured_media":62325,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-62324","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/62324","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/comments?post=62324"}],"version-history":[{"count":1,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/62324\/revisions"}],"predecessor-version":[{"id":62326,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/posts\/62324\/revisions\/62326"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media\/62325"}],"wp:attachment":[{"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/media?parent=62324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/categories?post=62324"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.times.mw\/index.php\/wp-json\/wp\/v2\/tags?post=62324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}