Insights and thoughts into the world of money education.
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Many parents want to know if they should get their child a bank account. Making this decision is a personal one. What is important to say, in short, is that the answer is ‘yes’. The more complex underlying question, is how do you know when a child is ready for their first account?
When it come to investing there are some important investment tips and rules that millennials should follow because they are young, have large purchases coming their way (education, home, wedding, and so on) and because it’s presumed they have their entire careers ahead of them.
A credit card is a powerful tool – and like other tools (cars, hammers, to name a few) – you need to know how to use it. Misuse can lead to painful outcomes. I have seen millennials make mistakes with credit cards and I want to help others avoid these pitfalls.
Let’s face it – there are a thousand and one posts on pocket money and kids. Should you give your kid pocket money? How much should you give? Half parenting hacks, half everything else. There’s so many, in fact, that I hesitated to write up an article on this topic. Take some inspiration from kids in China.
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.