Ethics and Responsibility in education: the importance of financial literacy

Money matters are perceived differently across the age groups as different needs arise at certain points in one’s life. This article will look at how financial literacy can be viewed during our childhood, teenage years and early twenties, providing some examples from my own life experiences.


As a child (from 5-11 years) we don’t know much about the impact or importance of money. This is because our exposure to money was limited to having our parents or guardians provide for our needs and wants to their best ability. We believed the world is a big box of unlimited toys, food (which was hardly finished at times) and adventures.

Image of chile with money.

Now as children, we may have seemed oblivious to money but in some cases when they are introduced to the primary functions of these copper coins and paper notes, they are able to make significant decisions that can change their spending/demanding behaviour. For example, a child that is exposed to how money functions and wants a new toy truck is more prone to start saving towards the toy truck rather than spend their pocket money on candy during lunch breaks. In my case, I was keen on spending my savings on strawberries which were found in only one farm. Most of the remaining money was either exchanged for paper notes or spent by my brother who convinced me to get more strawberries and sweets for the both of us.


But can what we learned as children still prepare us for our next stages in life? 


Is it still viable to use just saving methods to get what you want and does discipline play a much bigger role in our development?

In this case, it may be better to agree because what we learn from a young age grows with us over the years even if some habits fall away. Our teenage years are a time when we may often try to be in control of our own lives, even though we are still living under our guardians’ roof.


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Mokgaetji Margueritte

Article Writer & Content Contributor

Meet the team: A picture of Margueritte M Pitjeng.

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The opinions expressed in this article/publication are those of the authors. They do not necessarily reflect the opinions or views of GiLE or its members.

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