HOW HO DO YOU START A CONVERSATION ABOUT MONEY WITH YOUR CHILD?

GIVE younger children the ch chance to pay for items. In Instead of buying treats during the supermarket shop, give them a set amount of money and explain to them that they can choose what they want, but when the money is gone, it’s gone.

Include your children in discussions about bills. You don’t need to go into the full details of your finances, but give them an idea of how household finances are run. Explain payments like direct debits. Frame it in a way they can understand - tell them the money is helping to keep the lights on, for example.

If you give your children pocket money, encourage them to put some of it aside as savings. Consider opening a savings account for your child and include them in trips to the bank or building society to build up their savings pot.

Encourage young children to handle money, so they get used to the different coins. Include older children in conversations about online and mobile banking.