Editorial: Let's encourage the culture of saving in schools

Last year, the Association of Micro Finance Institute of Rwanda launched a campaign dubbed “financial education” in schools with the intention of promoting a savings culture among students. The programme which is currently running in ten districts has been embraced by thousands of pupils and students. The initiators of this programme must be commended for teaching children this life-changing skill because it will eventually boost economic growth. Just like anything else, saving can only be appreciated if it is started at a young age. Research has shown that it is hard to perfect anything at an old age. The financial literacy education is good because it trains the children to think of other options such as saving besides buying a cake or sweets whenever they get money. The young savers come to understand that life is not just about eating and spending on luxuries. This culture will help curb greed among the children and also produce financially disciplined citizens. With a generation that appreciates the culture of saving, the future of Rwanda is very bright. It is almost certain that the pupils saving their little money today will pass on this virtue to their children. The impact of this on the economy is that there will be more investment than consumption, a secret that was long discovered by the first world economies. Let’s all embrace this culture because the dividends will be big.