All parents know how important it is for children to learn about money at an early age. But, the challenge is who is best to teach them.
At goHenry, we’ve felt for some time that our institutions (schools, government and banks) have failed to tackle how to teach our children practical and real-life financial skills. Too often, existing resources don’t reflect how children see money being used, nor give them the tools to manage their money for themselves in a way that reflects the world they will grow into.
This is born out by our latest research which found that a staggering nine out of 10 (88%) eight to 16 year olds felt parents had helped them most to understand money. Less than one in 20 (3%) felt the same about their teachers.
It’s a shocking finding, but also one that reinforces why we formed goHenry. To create a safe, secure environment controlled by parents in which children can manage their own money, saving and spending, and by doing so, learn the value of money. We believe that its parents who are vital to teaching the next generation the skills they’ll need.