THE MONEY CONVERSATION WITH YOUR CHILD

PARENTS shape their children’s attitudes towards money, purposefully or not. And kids tend to absorb much more, and much sooner than we realise – with certain studies saying that money habits are formed by the age of seven. Youth Day is a good reminder of the importance of creating set patterns on how to deal with money within families, although this has proved to be difficult given the economic volatility of the past few months, says Charnel Ernstzen, managing director of National Debt Advisors.