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Finance Friday: Children’s money worries and a new book on reducing stress through financial planning

Welcome to our Friday round up of the news circulating the internet on personal finance and financial education. For all the advice you give your children on spending and saving it is worth remembering that they may not always share their money concerns with you. According to some new research, a third of children aged 11 to 16 worry about family finances but may not be speaking up about it.

This article on Parent Dish outlines the findings, saying that one in eight secondary school aged children have heard arguments about money at home and one in six have accidentally taken a look at their parents’ bank statements.

The survey by VoucherCodes.co.uk also suggested that parents should be more careful about the language they use while shopping, giving positive reasons for not buying things such as saving up for something in the future, instead of telling children simply ‘we can’t afford it’.

However you handle money conversations with your children, making sure that you have an idea of how to plan for your financial future is critical, and a new book by financial adviser Alexa von Tobel claims to have the answers.

Von Trobel set up a company dedicated to providing accessible financial advice and getting people as comfortable visiting their money as they are getting on a treadmill at the gym. Her book, ‘Financially Fearless’ is part motivational and part instructional. She writes about how money is the tool we use to keep our families healthy and plan our retirements.

And while she warns against credit card debt that can quickly spiral, she says often the biggest hurdle in life is shame. It's important not to feel ashamed of making money mistakes and to start de-stressing over money altogether by making a financial plan geared to your own situation, based on what you can afford now, and in the future.

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2 thoughts on “Finance Friday: Children’s money worries and a new book on reducing stress through financial planning

  1. A very good post. Thank you for this. Iam planning to take loan for my children whom are approaching for higher studies next year. Could you please tell me how much education loan can we get and the procedures for applying it?

  2. Hi Chris. Great to hear you think so. The best thing to do to get the answers to your questions is head to the Gov.uk online resources (they're very helpful).

    This page: https://www.gov.uk/browse/education/student-finance covers lots of different topics surrounding student finance and how to apply for a loan, so should help you plan for your children's education. Hope that helps!

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