Helping children understand how money works

Why it's important to talk

Talking to children about money helps them develop a positive relationship with money and equip them with the skills they’ll need to make smart financial decisions for the rest of their lives. 

You can start teaching them important money habits such as budgeting, saving and responsible spending from an early age. 

Benefits of talking about money

Research by the Money & Pensions Service has shown that people who talk about money:

  • Make better financial decisions.
  • Have stronger relationships.
  • Feel more in control.

Related information

Talking to children about money

Help children understand how money works and develop the skills they need.

The benefits of talking about money

How can I save for my child’s future?

Parents and grandparents can help to encourage children to save early to create good money habits and afford special items. 

Ways to save

Choosing a bank account for your child

Opening a bank account can help children get used to the world of money.

Compare our child accounts

Further support

Money management

Our tips and tools can help you manage your bills and credit, while helping you save and feel better about your finances.

Money worries

If you are struggling with your finances, or worried about the increased cost of living, you are not alone. We are here to help you get back on track.