SEREMBAN: Parents must instil in their children saving and investment habits from young so that they will be savvy financial planners in the future.
Amanah Saham Nasional Bhd chief executive officer and executive director Mohammad Husin said children should be given financial exposure from young to nurture savings habit, a better perception and understanding of money, and its inherent value.
"Permodalan Nasional Bhd is constantly organising 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 told New Straits Times earlier here today on the sidelines of its Financial Planning Camp for Children.
The event was hosted by popular celebrity Datuk Aznil Nawawi who shared his experience with more than 100 children at the camp and advised them on how to spend their money wisely in the future.
This camp is the fifth organised this year by Amanah Saham Nasional, which was also held in Shah Alam, Selangor, Sibu, Sarawak and Kuala Lumpur, attracting more than 1,000 participants.
The main activity of the camp include a ‘I'm a smart investor’ seminar designed specifically for children between 7 to 12 years old and activities such as ‘I spend my money wisely’, followed by ‘Know your investment risks’ and ‘Instalabur’.
Mohammad said in the ‘I spend my wisely’ activity, every participant will receive a RM50 allowance and each are allocated five minutes to spend at the makeshift bookshop and school canteen.
The winner will be chosen based on their spending pattern as well as the product purchased, if it is of high quality and a good buy.
In the ‘Know your investment risks’ activity, each participant are taught that every investment can be positive or negative, while in ‘Instalabur’, they will be taught the power of compound interests.
Mohamad added, parents must also participate in the 360-day investment seminar which shares 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.