‘Talk about money at the dinner table’ – and five other ways to build children’s financial literacy

By talking about money openly, you can help your children build their financial confidence. Photograph: RyanJLane/Getty Images

We all want our children to be happy and financially comfortable. We want them to become adults who can steer clear of problem debt, save for financial goals and manage their money without drama.

And parents have a huge amount of influence over this. Analysis carried out by the University of Cambridge suggests that by age seven, children can already grasp some significant financial ideas that can shape their future financial habits. That means it’s important for parents to encourage financial literacy early on; so here are some ideas for achieving just that.