The IFW’s Vice Chair Hiren Panchal has shared a suggestion he tries at home, though he confesses it doesn’t always go to plan!
With our own little SuperHumans, I am promoting a simple habit: saving a portion of every pound earned or gifted.
I believe that teaching young children to set aside even small amounts shows them that money has value beyond immediate spending. Hopefully, this habit builds patience, responsibility, and goal-setting skills, which are the cornerstones of Financial Well-being. Over time, children who learn to save grow into adults who understand the importance of planning, budgeting, and making mindful choices with their money, setting them up for a stable and financially secure future.
By introducing saving early, children learn that money is a tool—not just a way to satisfy short-term wants, but a resource for fulfilling future needs and goals.
To help you do one thing, follow this link to find out some age-appropriate ways to talk to and teach your children about money.
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