It’s never too early for your children to learn about money. They begin to build attitudes around money as early as five years old. So it’s important to start good money habits as early as possible.
Helping them understand spending and saving can help them make good financial decisions as an adult.
Begin by letting your child handle coins, notes and cards to help them see money as part of everyday life.
Help your children understand that:
They’ll start to understand how money is used and the different ways people pay for things. The following activities will give them an early start at budgeting and saving:
There are alternative savings and investments options available for children such as Junior ISAs, Premium Bonds and Child pensions, read our how can I save money for my child’s future to learn more.
The Money Advice Service offers further guidance on how to talk to your children about money.
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