Olympic fever has swept the nation over the past few weeks, leaving people glued to their screens. But after an impressive Closing Ceremony, reality is starting to bite for everyone. This was highlighted at the weekend in an article by The Independent on the issue of money and families. The piece examined how parents could be failing to manage money discussions at home, based on research by Halifax.
We think this article highlights the benefits of free and open discussion on the topic of money, an ethos we truly value, and provides a rallying cry to parents across the UK. The survey found that children are potentially at risk of long-term financial problems by not engaging in financial literacy with their parents. Meanwhile, 88 per cent of children aged between eight and 15 think their parents are concerned about money, including 20 per cent who think they are concerned "all the time".
Encouraging essential conversations on this topic should help to reduce worry across the board and give children a better understanding of money and spending. While this may start at home, it should be introduced to the national curriculum at primary and secondary school level. We agree with the politician Thomas Docherty that financial education from an early age is crucial.
This approach will provide children with an essential base to develop and learn about money as they progress through childhood and into adult life and we are pleased to be playing our role.