Money & Kids

Helping parents raise financially capable children.

Money Coaching for Parents is a 1 hour talk that covers the six key steps to raising financially capable children. You will learn about:

The psychology of money – how attitudes and behaviours are formed
How your money messages are impacting your children
How to develop a work ethic
How to talk to your children about money
How you can help your children to make thoughtful decisions around money
Pocket money and allowances
Cards and bank accounts
Teaching financial literacy to your children
The 10 worst things you can say to children about money

This talk is also available as three x 1 hour sessions that incorporate group discussions, case studies and Money Coaching basics.

My Parents didn’t talk about money. Why should I?

If you want your child to develop a healthy relationship with something, you need to talk about it and model good behaviour. This is hard to do with money as we don’t have a framework for talking about it and it makes a lot of people deeply uncomfortable. Not talking about something means that you are not giving any positive guidance, and this makes it far more difficult for your children to know what the right behaviour should be.

Money is money. What’s different now?

There are a number of reasons why it is critical that our children develop a healthy relationship with money. These are just some of them:

There is far more pressure from media and society to spend money and to believe that having things will make you happy.

Freely available credit and online shopping make it really easy to spend money you don’t have.

Data from their online activity is being used to target our children at the individual level.

Our children’s working lives will be far less secure than ours and they will need to develop positive financial behaviours early on. Most of them will start their careers with large debts.

How to teach your children about money

Together with Money Coach Fanny Snaith and Financial Expert Will Rainey, we recorded a series of conversations in which we discuss all aspects of Money & Kids. These conversations are available on LinkedIn only.

Session 1 – money messages & start saving early

Session 2 – chores, pocket money & allowances

Session 3 – investing, tax, bank accounts & scams

Session 4 – lending money, paying for grades, financial responsibility

Session 5 – reflective behaviour, marshmallows, good debt & bad debt, student loans

Where can I find information on products and services for children?

Financial Literacy courses are available through Fiscorum Financial Intelligence who specialise in teaching 6th form pupils. Please visit their website for full details.

You will find information on books and websites on our Resources page.

Will Rainey at Bluetree Savings has written an amazing series of blogs on talking to your children about all aspects of money as well as a fantastic book. You can find them and many more resources at:

https://www.bluetreesavings.com/blog

For a great summary of Bank Accounts and Prepaid Cards please click below to go to the Money Saving Expert site:

https://www.moneysavingexpert.com/banking/cards-for-under-18s/

or Money Supermarket:

https://www.moneysupermarket.com/current-accounts/childrens-current-account-guide/

or Compare the market:

https://www.comparethemarket.com/current-accounts/content/kids-teens-current-accounts/

For children’s savings accounts, go to:

https://www.moneysavingexpert.com/savings/child-savings-tax-free/

The Money Advice Service has a great set of resources at:

https://www.moneyadviceservice.org.uk/en/categories/talking-to-your-children-about-money