The document summarizes the proceedings of the Teach Children To Save Summit 2014. It includes performances of the national anthem and theme song. The keynote address was given by the Central Bank of Nigeria on financial literacy. Several sessions followed that taught children the differences between needs and wants, money management, and the importance of budgeting and saving through examples and activities. The concept of the "Ant Bank" was introduced to encourage saving for the future like ants store food. The document emphasizes cultivating good financial habits in children.

1. Teach ChildrenTo
Save Summit 2014

4. National Anthem

6. Keynote Address
& Goodwill Message
From Central Bank of Nigeria

7. •Theme Song lyrics for
TCTS Summit
•Music Interlude

8. Theme Song
The Future
La la la la la la la la..aaaah (X 6)
The future
Is in our hands
The choice we make today
Tomorrow counts
and if we choose to "save"
Yes ''we will have''
When rainy days are gone
We would survive
Very simple words are spoken to wise
Only the unwise will never understand
That the future is at hand
Oh yea...the future is at hand
Oh...ooh yea...the future is at hand.

9. Lets Talk About
MoNey

10. Do we want more MoNey?
Why?

11. What is MoNey?
• MoNey is primarily a medium of exchange or
means of exchange. It is a way for a person to
trade what he has for what he needs/wants.
• MoNey has three critical characteristics:
– it acts as a medium of exchange
– it is an economic good
– it is a means of economic calculation

12. What is MoNey to you?
• Money is simply whatever money can buy or
be exchange for
• Money is everything you have
• Taking care of what you have is the beginning
of knowing how to save money

13. Why do you need to save MoNey?
• You cannot have all the money you need all
the time
• You need to prepare and plan for the future
• You can have what is most important to you
all the time

14. Identify the difference between
needs and wants
One of the most important things to help you
learn more about money and start savings is to
know the difference between something that
you ‘need’ and something that you ‘want’

19. Need & Want
• Cell phone
• Bus fare
• Toys
• Chocolate
• Soap

20. Examples of Need & Want
• House
• PlayStation
• Food – cakes, bread,
vegetables, TFC, fast
foods, ice cream, candy,
sweets, biscuit,
• Soccer boots
• School books
• School fees
• Camera
• A pet
• Water
• Movies
• School uniform
• Music CDs
• Rain coat
• Books

21. Need and Want Activity
• Need
___________________
___________________
___________________
___________________
___________________
___________________
___________________
• Want
___________________
___________________
___________________
___________________
___________________
___________________
___________________

22. • Jumai Ajayi, 14 years old, attends Living Spring High
School. Today she received N200 pocket money. The
tuck shop has some of her favourite snacks, so Jumai
bought two pieces of cake at N45 each, even though
her mummy packed lunch for her. She also bought her
friend, Susan a beef roll for N50. Later in the day she
bought bottled carbonated drink for N60. Jumai has no
allowance left at the end of the day.
• Jumai’s parent usually pick her up after school but that
afternoon, the principal received a call stating that
Jumai should go home by bus/taxi because the mum
was attending a program outside the city and she
might not get back on time to pick her home. Jumai has
no money to pay her way home.

23. Lets Discuss
• What are her choices now?
• Should she have done anything differently
today?
• What are the lessons we can learn from
Jumai’s story?

24. What are her choices now?
• Trek home if the house is not too far
• Borrow money from her friend
• Borrow from her teacher or the
principal

25. Should she have done anything
differently today?
• Should not have bought the snacks
because her mother packed lunch for
her
• Spent less on snacks
• She should not have bought snacks
for her friend

26. What are the lessons we can learn
from Jumai’s story?
• It is not good to spend all your money
• It is good to save
• Knowing the difference between need
and want will help you manage your
money better

27. Importance
of Teaching Children Money & Budgeting
• Everyone needs to understand about money
• Literally, Nigeria is a nation of consumers with savings
and debt out of balance
• Cannot afford to raise another generation of spenders
• Teens lack money know-how
• Help children managing money and dealing with risk
and return
• Reduce stress and increase satisfaction with life
• Set kids well on their path to financial freedom
• Children can enjoy life-long benefits from good money
habits

28. Wealth Circle

30. Why Financial Literacy
 Financial Literacy is important in that every individual has to make a
financial decision no matter what career you choose
 Financial Literacy gives you the ability to use credit responsibly, the
confidence to manage money and financial risks and to understand the
long term benefits of savings
 There is increasingly a large choice of financial products available and
one needs financial literacy to be able to choose the right one
 In an increasingly sophisticated financial market individuals need to
make informed choices
 Financial literacy provides a platform for financial inclusion
 Inappropriate financial decisions can have long-term negative effects
 Financial literate individual manage their money better
 Knowledge is power, financial knowledge is financial power
 Financial knowledge is vital for financial success

31. The Ant Bank Concept
• The Ant is small yet, it thinks for the future and its wellbeing. The
question is how? It saves enough food during summer that will
last for the whole winter. Ants cannot survive on the land in
winter, they hibernate, and that is why they gather food during
summer for winter season. Zak the Ant will be empowering the
society to be financial literate
• Reasoning behind the Concept is based on the bible
verse of King Solomon’s Proverbs 6:6
Go to the ant, you sluggard one; consider its ways and be wise! An ant is an
animal of little strength, yet it is exceedingly wise. It has no commander, no
leader, no overseer, ruler or chief.
Yet it prepares and gathers its food at harvest and stores its provisions in
summer, getting ready for winter, so that when winter and time of hibernation
comes it has no worry but plenty to eat. How long will you lie there, you
sluggard one? When will you get up from your sleep? A little sleep, a little
slumber, a little folding of the hands to rest, and poverty will come on you like a
thief and scarcity will attack you like an armed man/robber.

32. Thank you
By; Laja Shoniran
Managing Consultant
Infinite Intel Consult
HR Training, Recruiting & Financial Literacy/Inclusion
Consultants
Project Director
Financial Literacy for All (Teach Children to Save Initiative)
Tel: 08023005235
E-mail:
lajashoniran@yahoo.com or themoneyschool@yahoo.com
Facebook: www.facebook.com/TeachChildrenToSaveInitiative