News
15 September, 2025
Teaching children about money takes work but is a long-term investment
FROM pocket money to payment apps, teaching children about money has become more complex than ever.
Insurance and financial services company MetLife says parents need to take an active role in guiding their kids through lessons suited to the digital age.
One of the most important steps is to start early. Everyday activities, such as grocery shopping, can be turned into teachable moments.
Children can help tally the cost of items, compare wants versus needs, and learn about different payment types – from cash and cards to digital wallets.
Encouraging saving is another key step. While children may be tempted to spend birthday or holiday money immediately, showing them how savings can grow allows them to see the benefit of delayed gratification.
Parents can also create earning opportunities, whether through chores or clipping coupons, and help kids split money between spending and saving.
Apps can also be powerful tools. Younger children can use approved games to learn the value of coins, while teens might track chores and allowances digitally.
Budgeting is equally vital, MetLife says. By introducing categories such as living costs, groceries and transport, parents can help kids set priorities and long-term goals.
Finally, conversations should cover unexpected expenses, including the importance of insurance.
