Love it or hate it, money is an essential part of our lives. We can’t live without it, but we do need to understand it. Being money savvy is, without a doubt, one of the most important life skills we can possess. No other set of skills better guarantees personal wellbeing and freedom. Moreover, today's generation of children will face increasingly complex financial futures, so it is essential that they are equipped to become financially responsible adults.
We developed our financial awareness workshop specifically for pre and early teens and cover areas including understanding the role money plays in people's lives, ways to earn money, teen entrepreneur success stories and managing money wisely. We also explore peoples' relationships with money and how the money habits we form impact on our physical, emotional and financial wellbeing. Finally, we examine the benefits of giving (to those less fortunate and the positive rewards we can reap from philanthropic actions)
Learning about money
Disappointingly, many teens in the UK enter their adult lives with little or no basic financial literacy. It’s just assumed that children will learn these life skills as we did, along the way. But this means that many children will have to learn about money the hard way, and often too late.
Family situations and dynamics vary considerably. Many children's financial habits are formed early on through the family unit influences. Children can learn valuable lessons from their parents but it's important that they understand the full spectrum of relationships people have with money, enabling them to build and form their own relationship with money.
Some parents may use money as a means to placate their children, sending a message that money is easily come-by. Parents who may live on a tight budget may focus on the hardship their lack of disposable income has on the family, instilling in their children a fear of not having enough money to manage.