Introducing financial literacy in the classroom ensures South African children are prepared to make informed decisions as adults. Early education on money equips youth to avoid debt and build secure futures, countering the trends that currently hold many families back.

In a country where financial hardship is a daily reality for millions, there is a strong argument for making financial literacy a core subject in South African schools. The logic is simple: if children are taught the basics of money management early on, they are more likely to avoid the pitfalls that so often lead adults into unmanageable debt and lifelong financial stress. Teaching young people about personal finance is not a luxury, it is a critical tool for breaking cycles of poverty and dependency.

Many South Africans leave school with little understanding of budgeting, saving, or planning for the future. This gap is often filled only by trial and error in adulthood, which can have devastating consequences when people find themselves caught in a web of credit card debt, loan repayments, or financial emergencies. Basic financial literacy, introduced and reinforced throughout a child’s education, would mean that every young South African enters adulthood with the skills needed to make sound decisions about earning, spending, and investing.

International evidence shows that countries prioritising financial education from an early age have higher rates of savings and lower rates of household debt. In South Africa, where household debt remains stubbornly high and savings rates are low, the benefits of teaching financial literacy are obvious. Lessons could cover a wide range of practical topics: how to set a budget, the difference between needs and wants, the dangers of easy credit, and the importance of saving, even in small amounts.

Understanding concepts such as interest rates, inflation, and compound growth would give children the tools they need to question financial offers and plan for the future with confidence.

The current economic environment makes such skills more urgent than ever. Many families have limited resources and little access to professional financial advice, so the responsibility for teaching these skills too often falls through the cracks. When schools take the lead in teaching financial literacy, every child, regardless of background, gets a fair chance to build a more secure future. Over time, this could help narrow South Africa’s persistent wealth and opportunity gaps.

A national approach to classroom financial literacy could also pay broader social dividends. Financially literate citizens are better equipped to participate in the economy, start businesses, create jobs, and build up assets over the long term. They are more resilient in times of economic crisis, less likely to fall for scams or get trapped by predatory lenders, and more likely to contribute positively to their communities. These habits, once embedded, can be passed from one generation to the next, amplifying the benefits far beyond the individual.

Schools are the most effective and inclusive place to start. Just as basic maths and reading open up the world of ideas, so too does an understanding of how money works open up opportunities for independence and security. When children are taught that financial planning is a lifelong skill, one that can help them achieve their dreams and protect their families, they are far more likely to make responsible choices. This is not just about numbers, but about building confidence, self-reliance, and hope for the future.

If South Africa’s schools make financial literacy part of the curriculum for every child, the impact would be profound and lasting. The next generation would be equipped not only to avoid the debt traps that have ensnared so many, but to build a more prosperous and resilient society.