Financial Responsibility For Children: Leading By (Practical) Example

In a world dominated by downloads, in-app purchases and Pokécoins, is it any wonder parents believe that kids today have less understanding of the value of money?

As the world becomes increasingly digitised and cashless, with games like Pokémon Go grabbing the attention of children, there’s a real danger young people are losing perspective. They may know the value of 500 Pokécoins, but do they know what else they could buy with the amount those coins cost to buy?

No, according to parents they don’t. We recently surveyed 6,000 parents and 70% said they believe children have less understanding of the value of money than they did when they were a child. Two thirds of parents think digital money makes it harder for children to learn.

This makes sense. When I was a child, I knew I’d…

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