How to Talk to your Kids About Money

DirectTalk with Mpumi Moyi by DirectAxis

The thought of talking to your kids about money might be scary. It’s not an easy subject, especially if it keeps you up at night. But it’s important to educate them from a young age. Kids who learn about smart money management early, will be more equipped to make smart financial choices in future. Here are five guidelines to making it easier for everyone involved. 

1. Make it part of everyday life

Don’t make a big deal about it. Don’t sit them down and give a long lecture. Rather work it into day-to-day life – teaching them about different aspects of money as it happens in your life. Asking your 10-year-old to help find the most affordable bottle of milk in the supermarket will be a valuable – and potentially enjoyable – lesson.  

2. Keep it age appropriate

Be honest, but keep it age-appropriate. A five-year-old will not understand the concept of taking out a loan, but a teenager will. 

3. Talk values, not numbers

Certain things are meant for adults only. So don’t stress about revealing your actual salary or expenses to your children. Rather focus on teaching them concepts (like budgeting, saving and paying off debt) and the value of hard work. 

4. Keep it positive 

In order to raise financially informed and independent children, you need to help them feel confident and empowered. So talk about money in a positive manner.   

5. Be a team

Couples often don’t agree about money, but it’s important to present a united front to your children. Your disagreements might create unnecessary anxiety or uncertainty. 

DirectTalk Mpumi Moyi Infographic by DirectAxis


Pulse is a FREE financial wellness tool that allows you to check and improve your credit rating.

Find Out More
Personal Loan

A Personal Loan is a convenient way to take care of your personal and family needs and goals.

Find Out More
Consolidation Loan

Consolidating can be an effective way to manage your finances and increase your cash flow.

Find Out More

of customers use loans for consolidation


of customers use loans for renovations


of customers use loans for education

Our Sponsorships

Read more about our sponsorship with Cape Town City FC.

Read More
Job Opportunities

Thinking of working for DirectAxis? Why not explore what it means to work at DirectAxis.

Read More
Customer Care

We pride ourselves on delivering the best possible customer service. Get in touch today.

Read More
Social Initiatives

Find out more about the corporate social initiatives we're undertaking to deliver positive change.

Read More

DirectAxis is a business unit of FirstRand Bank Limited, an Authorised Financial Services and Registered Credit Provider, NCRCP20. Direct Axis SA (Pty) Ltd, Reg no. 1995/006077/07, an authorised Financial Services Provider, FSP7249 & FSP5. 108 De Waal Road, Diep River 7800.

Legal Documents - Sitemap

Loan repayment terms range from 24 to 72 months. The maximum interest rate with regards to a DirectAxis Personal Loan is 24.75% per annum (compounded monthly). Your rate and initiation fee will be determined according to your personal risk profile.

An illustrative example of a loan at an interest rate of 24.75% per annum would be: Loan amount R50 000 plus a once-off initiation fee of R1 207.50 and a monthly admin fee of R69.00, over 72 months.

The total cost of the loan will be R 103 718.91 which is a maximum Annual Percentage Rate (APR) of 28.01%.