20 August 2013
We don’t tend to sit our children down and talk to them about managing money – or how we manage the money that needs spent on them!
Everything from the clothes they wear, to the food they eat and those weekend treats – do your kids really understand the costs involved? Do you take the time to instil the essential money management skills they will need in later life?
Launched by Ulster Bank, ‘MoneySense at Home’ is free and open to all parents, offering impartial tips and guides online, covering topics including budgeting, savvy shopping, and managing debt. It is supported by MoneySense Ambassador, parent and well-known broadcaster Claire McCollum, who commented, ‘Research by MoneySense shows that about one third of families don’t talk with their children about money, and MoneySense at Home aims to support all parents to do so in a practical way. As a mother with two children who I really want to grow up with a good understanding of money and the skills they will need to make good financial decisions, I think this is a fantastic initiative that can provide invaluable help to parents.’
The ‘MoneySense at Home’ website includes: up-to-date guides; case-histories; a blog; a live newsfeed of stories on budgeting, family financial issues, money management and smart shopping; as well as a series of features on areas such as ‘back to school’ and making learning about money fun. To find out more log on to www.moneysense.ulsterbank.co.uk
Moneyville from Danske Bank, is another fun, educational website for children five to nine years old. The many games and activities found in this website introduce children to information about where money comes from, what money is worth and how to prioritise and save up.
To make sure your child feels at home in Moneyville and can recognise it from visit to visit, he/she is given a personal house and room, as well as their very own character. In the family game, your child can create an imaginary family, design their home, devise forms of transport and decide where they spend their holidays.
At moneyville.co.uk, your child can visit the likes of the apple yard, where they can make money by gathering apples and selling apple juice and Penny’s shop, where they can purchase items for his/her room and character. In the family game they must learn to prioritise the family’s money, pay expenses every month and save up so that the family can take holidays and hold celebrations.