Old and new money lessons for kids | Money & Life

Old and new money lessons for kids One of the most important things you can teach your kids is how to manage their money as this will help them better face the challenges of adulthood. In our world of ever advancing technology, children often don’t see physical money being exchanged. In fact, some Scandinavian countries are even doing away with physical cash altogether. These days, money can be moved with the swipe of plastic card …

Deferring gratification

When it comes to teaching kids about healthy money habits, there are few lessons more important than being able to defer gratification. By helping kids learn to put off what they want right now and save instead, they’ll be better equipped with the skills to be financially secure adults. Deferring gratification While it is possible to help kids have a money-saving mindset by teaching them to delay gratification, it’s a lesson that can take time …

Money Saving Mindset – How to encourage a money-saving mindset in your kids

Money Saving Mindset – How to encourage a money-saving mindset in your kids The right time to teach kids about saving money might be sooner than you think. The surprising truth is, kids form their money habits very early on. Behaviour experts at Cambridge University1 found children’s money habits are formed by the age of 7.     With that in mind, it’s never too early to start teaching your kids how to make good decisions about …

Teaching your kids to spend wisely

Teaching your kids to spend wisely There are many reasons we fall into the trap of overspending. One reason is we get bombarded with very effective advertising on social media where data scientists and algorithms seem to know what we will be tempted by before we do. Perhaps we are emotional spenders and buy things because it feels good. Maybe we’re trying to keep up with the Joneses, or perhaps we lose track of how …

Are you a money pushover?

Are you a money pushover? Being loyal, generous and spontaneous are all positive human traits. But if you’re spending more than you need to because you can’t say no, then it could be time to own up to being a money pushover. Get tips on how to stop compromising on your finances and start standing up for yourself. If you’re shy about coming forward to collect money you’re owed and always the one picking up …

How to talk to your kids about money

How to talk to your kids about money Children first learn about money and how to manage it – earn, spend, save, invest, give it away – from watching and listening to adults. When we share positive behaviour and are frank about money, we create realistic expectations for children and we empower them to become financially capable adults. So, why not weave smart money lessons into your everyday moments? Download our free eBook now for ideas and …

When to start talking money with kids

When to start talking money with kids If you want your kids to get into good habits with money, when should you start teaching them about it? Are the pre-school years too soon for pocket money and chats about spending money online? Find out more from our Share the Dream report about how and when parents are talking money with their kids. Aussies may have a natural reserve when it comes to talking money. But …

How are parents teaching kids value of money in todays digital world?

How are parents teaching kids the value of money in today’s digital world? As part of their Financial Planning Week campaign, the FPA conducted national research with The Curious Co. The Share the Dream national survey of 1,003 Australian parents of children aged 4-18, gives new insights into our nation’s financial capability and readiness to share the dream with the next generation. Did you know that two thirds of Aussie parents believe digital money is …

Home to roost: Advice for parents with adult kids living at home

Home to roost: Advice for parents with adult kids living at home Do you have adult children living with you? Thanks to housing affordability and stagnant wage growth, more kids are relying on Mum and Dad to keep a roof over their head well into their 20s and 30s. Get some advice on how to foster financial independence in your kids, so they’ll be ready to stand on their own two feet when they leave …

Why a job means more to kids than money

Why a job means more to kids than money Getting your kids out to work isn’t just about teaching them the value of an honest day’s work. It’s also a great way for them to start taking an interest in all sorts of financial matters. Find out more about what your kids stand to learn from their earliest years in the workforce. Kids are quick to learn that money doesn’t grow on trees. According to …