Supporting financial literacy at home

Financial decisions have a significant impact on health and wellbeing, and young people need the knowledge and skills to make positive financial choices.

It’s money week. Parents and caregivers provide for young people their primary source of learning about money, so use this week to make a positive change:

  1. Talk money – research shows we’re poor at talking about money and household finances with our children. This week share one bill with your kids, what the item costs and how you pay for it.

  2. Think about pocket money – Pocket money is a great way for children and young people to learn about the value of money. Consider a scheme like 50% for saving, 50% available for spending so children learn saving habits early.

  3. Let children spend too – understanding the value of money comes from making choices and although they might make mistakes and regret what they bought at times, there is good learnings to come from any mistakes.

Learning about money and adopting positive habits from the get go supports young people with core life skills they can carry with them as they journey into adulthood.

Find out how we’re supporting young people to grow their financial literacy through our SMART$ theatre-in-education programme in secondary schools: