The Bank of Mum and Dad

Mary says to her daughter: “sorry sweetie, I can’t buy you that toy now – we’ve got no money left till payday”. Sarah, her 4 year old daughter replies “Just go to the ATM machine Mum! The machine always gives you money - you just have to put your card in the wall.”

How simple this process seems to a young child. Sarah does not understand what is really happening (and at her age who can blame her!) At some stage though, it is imperative that we teach our children the basics of money.

 

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

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