This week our COO and co-founder Louise Hill talks about the importance of introducing children to ‘the value of money’ in ‘Parenting with Jo Frost’ magazine:
“The lessons are too costly to wait until they’re in their late teens and early 20s to start learning… New students, for example, can suddenly find themselves with significant access to cash as loans, overdraft offers, credit cards and savings from their parents all combine to make every immediate desire seem within reach. It’s no surprise the latest figures indicate that today’s students will leave university with a staggering average of £44,000 debt to their name.”
"Parents are smart; they know the right things to do for their kids, but often when it comes to money they forget to discuss it." Says Louise. "Having ongoing, open and positive conversations about money goes a long way in forming good money habits..."
What we’re reading:
Another former Dragons’ Den star caught our attention this week, suggesting that entrepreneurialism should be taught in schools. Theo Paphitis believes that having lessons in entrepreneurialism will lower the failure rate of UK startups. “I’m incredibly passionate about business, about small businesses and about kids being given the right skills so they are successful.” Read the full article here
One in three children worry about money. A new survey has found that not only do children worry about money – they are also aware of their parents’ financial worries. It’s not just the older children and teenagers either, the study by Halifax found that three quarters of 8 to 11 year olds are aware of their parents’ financial concerns. Read the full article here
What’s the secret of being a cool grandparent? Well, according to a recent study by McCarthy & Stone, grandparents need to be up to speed with the latest technology and of course, give out extra pocket money. Read the full article here