TEACHING EMPLOYEES MONEY MANAGEMENT SKILLS AND SHOWING A PROFIT IN THE PROCESS: LESSONS FROM A FINANCIAL LITERACY COURSE

Although deficient financial management skills have often been perceived as an “affliction ofthe poor”, resent studies have shown it to be a problem that pervades all levels of South Africansociety (Engelbrecht, 2008:3-15; FinMark Trust, 2009). There is also strong evidence that thefinancial problems that stem from mismanagement are one of the causal factors of the highlevels of pilfering, bribery, corruption and theft in the country’s public and private sectors(ACRC, 2009). In spite of this, very little is being done to address this deficiency. There isespecially a dire need that employers should empower their workforce with appropriatefinancial management skills. One employer that has taken up this challenge is the SouthAfrican Police Service (SAPS)