As adults, many of us have learned about money the hard way—through debt, overcharging by banks, and mishandled loans. But how can we ensure our children and grandchildren avoid these pitfalls and build a solid financial future? This week on BBC Radio Kent, David Braithwaite, Money Mentor, shared valuable insights on how to equip the younger generation with the knowledge they need to make smart financial decisions.
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Drawing from his own experiences, David explains how early lessons in budgeting, saving, and understanding financial concepts like pensions and interest rates can set kids up for a secure financial future. By introducing children to the basics of money management – such as balancing pocket money and practicing delayed gratification – we help them develop sound financial habits that will last a lifetime.
David also discusses how parents can use pocket money as a tool for teaching financial responsibility. Giving children the chance to make mistakes and learn from them is crucial to fostering a healthy relationship with money. Tune in to this insightful episode for practical tips on how to raise financially savvy children and ensure they’re prepared to make informed financial decisions as adults. Listen now.
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