This is a GUEST POST by Kirsty Lamont, Mozo.com.au‘s money expert.
For many Singaporean millennials, money education is not part and parcel of life, it takes years to learn through practice. What took me 20 years to learn — about how to earn, save, and invest money — could have been taught in far less time with today’s technology.
We know what you’re thinking: of course real pocket money is the way to go when teaching financial concepts. It’s tangible; it’s real; your child can hold their pocket money in their hand, and if they spend it, they’re losing real cash. What if we told you that virtual currency works? In fact, we’re going to go one step further and tell you why it works, and how you can start the “money talk” with your child.