PHOEBE OKALL | NATION Bernard Oduor (right) and Adam Mwadama of the Sarabi Band during rehearsals in Komarocks in Nairobi. The two schoolboys have had a head start on the way to financial independence and discipline.
By JOY WANJA , wanja@ke.nationmedia.com
Posted Friday, July 22 2011 at 21:21
Posted Friday, July 22 2011 at 21:21
Necessity and a passion for music have turned him into a responsible young adult much earlier than his peers.
As his age mates watch movies and keep in touch with the latest fashion trends in town, Adam Mwadama practises music with his band members after school.
At the tender age of 17, Adam helps put food on the table for his mother and sister from earnings he gets from performing with Sarabi Band, where he is both a guitarist and vocalist.
“We perform at functions like weddings and corporate events and from the proceeds, I help my mother with household expenses,” Adam told Saturday Nation in an interview during a break in practice.
His peer Bernard Odour, 17, is also keen to help out his family with his school fees and household expenses.
Small plastic tin
Small plastic tin
The teenage boys, however, have not been forced to work for a living.
The Form Three students do it mainly because they believe financial literacy will mould them into responsible and better young adults.
The month of April is globally recognised as Financial Literacy Month for Children but these ambitious band members live each day like it were one.
The month of April is globally recognised as Financial Literacy Month for Children but these ambitious band members live each day like it were one.
Globally, the Teach Children to Save Day raises awareness about the important role society plays in helping young people develop life-long savings habits.
The day aims at encouraging parents, guardians and teachers instill a foundation of financial knowledge and healthy money habits among children at an early age before they begin making decisions that have a bearing on their future.
Bernard, a drummer, is a student at SSD Secondary school in Ngara.
He says that though he does not have a bank account like some of his peers, the small plastic tin under his bed will do for now.
“Handling money demands discipline and careful planning,” Bernard says, adding that he has managed to help his family pay school fees from his savings.
Adam and Bernard join six other colleagues for band practice every Monday, Tuesday and Friday.
Attending school everyday and band practice three times a week is not easy as they both demand discipline and dedication.
The band was formed six years ago when Mr Bernard Nderitu, 33, spotted the eight boys during various performances in the neighbourhood.
The band was formed six years ago when Mr Bernard Nderitu, 33, spotted the eight boys during various performances in the neighbourhood.
They assumed the name Sarabi Band and became a hit, performing at local functions and later travelling to Canada, Norway and Switzerland.
Mr Nderitu says although the youngsters have been exposed to life in the fast lane, he is confident they will put their education first before venturing into music full time.
“It is always wise to have an alternative plan in case music does not entirely work out,” he says.
Mr Polycarp Ngoje, a director at the Academy of Savvy Investors, agrees that financial literacy needs to be instilled at an early age.
He says budgeting helps children realise that in real life, money is scarce and there must always be priorities.
He says budgeting helps children realise that in real life, money is scarce and there must always be priorities.
“This will make it easier for them to manage their money wisely when they are older,” he adds.
Mr Ngoje says one sure way of instilling a culture of saving is setting up financial clubs in school that teach members about basic money matters like budgeting.
Mr Ngoje also urges parents to introduce the topic that most teenagers deem boring. “Talk to your children about the benefits of saving and budgeting and they will be grateful to you one day,” Mr Ngoje said.
Budgeting helps children develop the habit of thinking before they spend and focusing on the future when making financial decisions, the financial consultant pointed out.
Instilling a strong work ethic in children means making them understand that the quantity and quality of their work can have a direct impact on how much money they earn.
Parents are advised to set tasks for children to complete for a wage. They should then be encouraged to save the money.
When a child asks for things, they should be asked to create a list so they can categorise and prioritise their own “needs” and “wants.”
When a child asks for things, they should be asked to create a list so they can categorise and prioritise their own “needs” and “wants.”
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