How Can I Teach My Children About Money?

The Wallet

☎️ Today, we answer a question from our listener Alexandra, who asks us about teaching children about money. I invited Helen Driver, Director of Collaboration at MyBnk charity, ex-fund manager and long-time Vestpod, to offer us her words of wisdom on the topic.

💸 Money can feel like a taboo in a lot of households, but it’s important to broach the topic to help children feel financially confident in their futures. Helen shares 3 tips to help children develop better money habits, from making the right choices in the day to day to managing pocket money.

Today on The Wallet:

1/ It all starts with simply integrating money into daily conversations with your kids, so Helen gives examples of how we can do that without making the subject too weighty.

2/ Pocket money is a powerful tool for learning about money, and Helen talks about why it’s important to let kids simply experience the process of spending and saving (and make mistakes along the way!).

3/ Children learn by watching and listening to the behaviours that they see around them, and Helen explains what this means for parents and their own attitudes to money.

You can follow and connect with Helen:

LinkedIn: https://uk.linkedin.com/in/helen-driver-5725b550

MyBnk: https://www.mybnk.org/

Resources mentioned in the episode:

• Money Twist – KS1: https://www.mybnk.org/our-work/financial-education/money-twist-ks1/

I’m Emilie Bellet, the founder of Vestpod - a thriving community that financially empowers women, author of You’re Not Broke, You’re Pre-Rich and host of The Wallet! You can learn more about Vestpod, join our events and subscribe to our newsletter at www.vestpod.com and on Instagram @vestpod. Join our private Facebook group: @vestpod.

We want to open up a direct conversation with you on the podcast. You can submit a proud money moment, a question or a comment on a previous episode. Just email me a voice memo at [email protected].

* Please note that we are not certified, financial advisers! The articles and information made available on Vestpod and this podcast are provided for information and educational purposes only and do not constitute financial advice.*

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