‘Nurture saving habit in kids from young’
SEREMBAN: Parents must instil saving and investment habits in their children from young so that they will be savvy financial planners in the future.
Amanah Saham Nasional Bhd (ASNB) chief executive officer and executive director Mohammad Hussin said children should be given financial exposure from young to nurture the saving habit, a better perception and understanding of money and its inherent value.
“Permodalan Nasional Bhd organises financial planning camps for children so that they will have a better understanding in managing money more intelligently and subsequently make it a habit to spend prudently as well as save a portion of their money,” Mohamad said here yesterday on the sidelines of its Financial Planning Camp for Children.
The event was hosted by celebrity Datuk Aznil Nawawi, who advised more than 100 children at the camp on how to spend their money wisely.
This camp is the fifth organised this year by ASNB. Attracting more than 1,000 participants, it was previously held in Shah Alam, Selangor, Sibu, Sarawak and Kuala Lumpur.
The highlights of the camp included a “I’m a smart investor” seminar, designed for children aged between 7 and 12, and activities such as “I spend my money wisely”, “Know your investment risks” and “Instalabur”.
Mohammad said in the “I spend my money wisely” activity, each participant received a RM50 allowance and each were allocated five minutes to spend at a makeshift bookshop and school canteen.
The winner is chosen based on his or her spending pattern, as well as the product purchased, if it is of high quality and whether it is a good buy.
In the “Know your investment risks” activity, each participant is taught that every investment can be positive or negative, while in “Instalabur”, they will be taught the power of compound interest.
Mohamad added that parents must also participate in the 360day investment seminar, which shared tips on financial planning, the benefits of investing and how to find the right education fund.
ASNB is a wholly-owned subsidiary of PNB which offers 12 unit trust investment schemes that include Amanah Saham Didik, Amanah Saham Wawasan 2020, Amanah Saham Malaysia and Amanah Saham Bumiputera.