Kids right on money

CHILDREN’S financial habits are formed from age seven – making the case for parents offering pocket money from an early age.

University of Cambridge research indicates that 70 per cent of children receive pocket money, but only 15 per cent are encouraged to actually earn it.

Research from National Savings and Investments suggests everyone saves more if they have a goal. Doctor Arinola Araba, creator of the bMoneywize game, said parents should add an “element of surprise” into pocket money.