As children are now growing up in a world where money is mostly digital, cybersecurity has become a fundamental part of financial literacy. Unlike previous generations, their first experiences with money are not only piggy banks, but in-app purchases, gaming loot boxes, and prepaid cards connected to digital wallets.

In Kaspersky’s global “Digital Schoolbag: A Parent’s Guide for the School Year” outline, our experts share insights on how to teach kids to manage money responsibly and securely in the digital world.

The international back-to-school season is not only about new books and uniforms, it’s also a crucial time to build healthy habits that will stay with children for life and help to avoid many problems.

And real problems are not rare: 25% of parents who participated in the “Growing Up Online” survey admitted that they lost money because of their children’s online behaviour, while 16% of respondents stated that their child’s device was infected with a virus.

If children aren’t aware of online risks, even strong financial literacy won’t protect them from phishing disguised as giveaways, fake in-game deals, sneaky subscription renewals, or identity theft.

By integrating financial education with digital protection, parents can prepare their children not only to manage money smartly, but also to defend themselves against the cyberthreats that come with it.

Here’s what Kaspersky experts recommend parents teach their children about managing their money responsibly and securely:

1. Set clear spending limits

Helping children understand boundaries is the first step in building both financial discipline and digital awareness. Start by establishing a basic budget structure for your child’s typical expenses:

– School supplies.

– Food or lunch money.

– Sports or hobby-related purchases.

– Entertainment (apps, games, subscriptions).

Rather than micromanaging every purchase, talk about percentages. For example: “70% is for school-related spending, 20% for entertainment and 10% for saving.” Use this opportunity to introduce digital money literacy: explain how in-app purchases, microtransactions, or hidden fees can drain their balance if they’re not careful.

2. Use secure payment methods

While giving children cash may seem simple, it comes with obvious downsides, it can be lost, stolen, or spent without any trace. A safer and more educational alternative is to introduce child-friendly bank cards or digital wallets that come with built-in parental controls.

These tools let you set spending limits, receive instant purchase notifications, track transactions in real time, and even block certain categories like online marketplaces or gaming platforms. This way, children still enjoy the independence of managing their own money, but parents have the reassurance of oversight and can step in if something looks unusual.

Equally important is protecting the digital environment where these payments take place. Banking apps and online stores can become targets for cybercriminals, so installing a cybersecurity solution that includes safe browsing and secure payment protection is essential.

3. Secure devices and financial accounts

Children may not fully understand the importance of account security, but one weak password or stolen device can expose all their financial tools.

As a parent, you can help by:

–  Enabling two-factor authentication (2FA) for every app that might be used for online purchases.

– Using a password manager, which stores credentials securely and allows family access if something goes wrong.

– Teaching the basics of strong passwords: including at least 12 characters, avoiding names or birthdays and not reusing them across platforms.

By turning these habits into everyday practice, you give your child the tools to keep their finances and their personal data safe.

4. Keep track of subscriptions and recurring charges

One of the easiest ways for children to lose track of their spending is through subscriptions. Today, many games, learning tools, and streaming services use recurring payment models instead of one-time purchases.

A child may sign up for a “free trial” without realising it will automatically convert into a monthly charge once the trial period ends. Because these fees are small and recurring, they often go unnoticed until the balance is drained or a parent checks the account.

Teach your child to:

. Always ask before starting a free trial.

. Look for “auto-renew” settings and learn how to cancel them.

  . Set calendar reminders for trial end dates.

On the parental side, review the app store purchase history regularly and scan your email inbox for renewal notifications that might otherwise slip through. Many banking apps and security tools can also flag recurring charges or send real-time alerts for every transaction, making it easier to stay on top of spending.

By turning subscription management into a shared responsibility, you help your child understand that “invisible” charges are still real expenses that require attention.

“When we talk about financial literacy for children, we can’t stop at teaching them how to budget or save. Their money is already digital, which means their first financial decisions happen online: in games, apps, and digital wallets.

Without cybersecurity awareness, those lessons remain incomplete. Helping kids recognise scams, protect their accounts, and use secure payment tools is just as important as teaching them the value of money itself,” says Andrey Sidenko, Lead web content analyst at Kaspersky.

The African Development Bank Group, the African Continental Free Trade Area (AfCFTA) Secretariat, and Africa50 have signed a Memorandum of Understanding to catalyse infrastructure development across the continent and unlock the full potential of the largest free trade area in the world since the establishment of the World Trade Organization.

Signed at the Africa50 General Shareholders Meeting in Maputo, the tripartite agreement establishes a comprehensive framework for cooperation in identifying, designing, constructing, and maintaining critical infrastructure projects that will enhance intra-African trade, accelerate regional integration, and drive digital transformation across the continent’s market of 1.3 billion people.

Currently, intra-African trade accounts for just 15–18% of total African trade, compared to 68% in Europe and 59% in Asia. The new partnership between the three institutions aims to dramatically increase this figure by addressing the infrastructure gaps that currently constrain trade flows across African borders.

It will prioritise developing multimodal transport corridors, cross-border infrastructure, logistics hubs, ports, and airports to seamlessly connect African markets and reduce the cost of doing business across borders.

Recognising the transformative power of the digital revolution, the partners will also work together to establish cutting-edge data centres and digital trade platforms, enabling African businesses to compete in the global digital economy.

“The African Development Bank has played a lead role in supporting the development and operation of regional economic corridors throughout the African continent by investing over $55  billion in the last nine years to develop road corridors, ports, railways, and expand power pools to interlink countries and boost trade,” said Solomon Quaynor, the Bank’s Vice President for Private Sector, Infrastructure & Industrialization.

Specifically, the Bank invested over $8 billion across 109 cross-border, economic corridors, and infrastructure projects between 2014 and 2024

He added: “The tripartite agreement between the AfCFTA Secretariat, the African Development Bank, and Africa50 underscores the paramount importance of realizing the full potential of the AfCFTA single market with its combined annual GDP of $3.4 trillion through the establishment of transport infrastructure.”

Alain Ebobissé, CEO of Africa50, emphasized that the agreement will support “the development and financing of trade-enabling infrastructure to boost intra-African trade, one of the continent’s greatest endeavours.”

The partnership will operate on six strategic pillars: ensuring alignment with the AfCFTA Agreement and regional policies; jointly identifying bankable projects; mobilising capital through innovative finance mechanisms; establishing robust tracking systems; encouraging stakeholder dialogue; and integrating environmental, social, and governance standards throughout project lifecycles.

The three-year memorandum of understanding will be operationalised through detailed joint work plans and specific implementation agreements that will define projects, timelines, and financing arrangements. Technical working groups will be established to ensure effective coordination among the partners and alignment with national and regional development priorities.

Speaking on a panel at the Africa50 event, Wamkele Mene, Secretary-General of the African Continental Free Trade Area, said: “In the global context, we are facing an unprecedented challenge in Africa.

“But this challenge is a unique opportunity for Africa; it is a wake-up call for us that we have to invest in our institutions, in infrastructure, and our skills. Infrastructure development is at the heart of trade and is a prerequisite to doubling intra-African trade to 25% by 2030.”

Vitel Wireless, Nigeria’s first Mobile Virtual Network Operator (MVNO) has entered into partnership with Slot Systems Limited for distribution of its SIM cards and other gadgets around the country.

Chudi Nwabueze, managing director, Vitel Wireless who described the partnership as a defining moment for his company said Vitel Wireles’s purpose is clear: to transform connectivity in Nigeria  through innovation, affordability, and seamless access.

Nwabueze, who spoke in Lagos recently at the official engagement with Slot said Vitel Wireless, as the nation’s first Mobile Virtual Network Operator is committed to creating smart, reliable  solutions that break down barriers to communication and make it easier and more cost-effective for people to stay connected anytime, anywhere.

“This partnership with SLOT is a meeting of shared values and vision. By combining our innovative mobile services with SLOT’s extensive retail presence,  we are making Vitel Wireless SIM cards and the connectivity they offer more accessible than ever before. Customers will now be able to purchase, register, and  top-up their SIM cards conveniently within their own communities.”

He described the  collaboration as more than just distribution, ”it is about empowering  people. It is about bridging the connectivity gap with technology, accessibility, and affordability at the heart of everything we do.”

Nwabueze further explained Vitel Wireless SIM card is a location technology awareness card. It can track whereabouts of a person. This information can help the police, on official demand, in case of unfortunate incident.

He said the disadvantages of tracking a person’s whereabout outweighs the advantages.

He explained that access code is given to another person for tracking.

“We operate as a core network and we have integrated with all the major networks in Nigeria, including international calls. So, on a simple language, we are a GSM company, that you do call, SMS, data and we offer more value like safety. And the  good news is that we are spread out in the 36 States plus Abuja FCT in Nigeria.