Children and youth in Ashanti region joined others worldwide to commemorate this year’s MONEY Day, instituted by the Child and Youth Finance International (CYFI) in the interest of young people.The theme for the 2013 celebration is: “Sustaining the Future of Finance”, with the objective of inculcating into the young people the habit of savings and responsible spending.Young people in sub-Saharan Africa, aged 15–25 years, make up 47 percent of the population, but only 16.8 percent hold accounts at formal financial institutions.Savings products that allow disadvantaged youth in developing countries to accumulate savings and assets early in life may accelerate their access to better education, greater health services, new skills and economic opportunities.However, major barriers exist for financial institutions to provide youth with savings services, including the costs of such services and the lack of knowledge about effective products and delivery channels.Since 2011, local NGO, the Bright Generation Community Foundation, has partnered with the CYFI to promote financial education and encourage savings amongst school children in Ghana.“The Foundation has initiated innovative programs including the establishment of Child and Youth Finance Clubs in primary and Junior High School and the Child Savings and Entrepreneurship Scheme where children in the Junior and Senior High Schools are engaged in income generating ventures to raise funds to save in their bank accounts”, said Bernice Dapaah, Executive Director of the Foundation.These youngsters are first matched with Ghanaians in the Diaspora who adopt a member of the child savings club and invest in them by giving them seed monies to open a savings account, she noted.“By developing the habit of savings and receiving financial education, children change their financial and personal futures by opening up savings accounts”, Ms. Dapaah stated.She observed that many young people are engaged in petty trading and other income-generating activities, but lack the habit and culture of savings, as they spend their earnings irresponsibly.The institution of child and youth finance initiatives, according to Ms. Dapaah, is to aid rural-urban poor households with valuable opportunities to ease their financial constraints and enhance their right of quality and sustainable education and livelihood.The March 15th International MONEY Day event in Kumasi, attracted representatives of Access Bank, Ministry of Gender, Children and Social Protection, Ghana Education Service and the National Youth Council.They made presentations on child saving policies and interacted with the children and youth, who also shared experiences on having savings accounts.Students of Good Shepherd RC JHS, Mmofraturo JHS and Malincoln Basic School, debated on the topic: ‘Child Finance’.Nestlé Ghana sponsored the event.