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Sanlam has launched Sanlam Savings Jar, a smartphone app that offers financial education to kids and teaches them how to save money from a young age.
The app forms part of Sanlam’s aim to promote financial and numeracy skills in young people.
“In 2021, we rebooted our business and brand to become a purpose-driven organisation focused on giving millions of Africans the chance to live with financial confidence,” Sanlam Head of Brand, Mariska Oosthuizen, said in a statement.
The app lets kids accumulate savings by collecting coins and setting goals to purchase toys and other items.
It uses virtual money to simulate real-world currency.
An animated dragon represents their savings and with every amount saved, the dragon grows bigger and bigger.
Users can download the app for free. It is easy to use and reinforces saving habits by way of tangible rewards.
“We know that gamification is a powerful means to educate young people,” Oosthuizen explained.
“The Sanlam Savings Jar breaks down basic financial concepts, like planning, goal setting, needs versus wants, and appreciation of money and how to earn it.”
Featured image: Sanlam