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Teach your children to be cash clever with Talk, Learn, Do

Once upon a time financial capability was a relatively straightforward exercise for children as money was a tangible item.

You would know how much you have in your pocket and as a result, could spend accordingly. When your pocket was empty that was that.

If you wanted something special then filling a piggy bank, was the ideal way to save.

In today’s digital world with contactless payments and cashless transactions the numbers may not always add up and this is why it’s essential to help your children gain an understanding of managing their money.

Once the patterns are established they will be prepared for many of the financial challenges that lay ahead, whether that’s saving to buy a bike with money earned from odd jobs, travelling the world, or managing their finances at university and beyond.

They may reach a point when they’re faced with a large spending decision, so understanding incomings and outgoings are essential so they can make an informed choice and not break the bank.

But where do you begin to teach your children about money?

Financial education is important to empower children with an understanding of money

It’s a question asked by many parents and carers who feel they don’t have the right tools to help their children learn more about money and finance.

That’s why NatWest has launched Talk, Learn, Do, a new digital workshop that in just two hours aims to help people with children gain the skills they need to give their kids that all-important headstart in life.

Talk, Learn, Do provides parents and carers of children aged between three and 11-years-old with strategies, tips and more confidence to talk to their children about money. There are six workshops taking place throughout July to choose from.

Caroline Edwards, financial capability lead at NatWest Group, said: “Research from Cambridge University revealed that children’s money habits are set by the age of seven and at NatWest we know the important role parents play as your integrate money discussions into day-t0-day family life.

“The interactive workshop encouraging parents of three to 11-year-olds to talk their children about money and create practical experiences for children to handle and manage money.”

There are workshops running throughout July. To book your free place click here

Topics covered will include pocket money, needs and wants and strategies for dealing with challenges such as pestering. As the course is interactive parents will be able to share experiences with others in the workshop.

Adults with children are certainly feeling more under pressure to help provide a solid financial future for their kids right now. According to the Royal Mint’s 2021 Savings Report, 78% have vowed to improve their financial habits throughout this financial year to benefit their children’s futures. Yet financial education is just as important to empowering children before they reach adulthood.

Teach your children to be cash clever with Talk, Learn, Do
Learn, Talk, Do will help parents teach their children how to make informed decisions about many aspects of money

Created by the Money and Pensions Service the workshops are being delivered by NatWest’s team of community bankers.

The workshop is split into six core sections brought to life through activities and discussion covering why we need to actively teach our children about money, how to teach children through everyday activities, and options for how best to put this into practice.

Claire Lands, one of NatWest’s Community Bankers in London, said: “The workshop has been designed to be relaxed and fun, so you can take part whilst sat on your sofa with a coffee. It’s definitely not like being back in school. If your children are with you too that’s absolutely fine, we know how difficult it is juggling things when you’re a parent or carer.

“That’s why there are several workshops to choose from, each taking place on different dates and times of the day so you can pick the one that best suits you. All you need is access to Zoom.

“Today four out of 10 adults feel they are not in control of their finances and that’s why it’s so important we empower children from a young age so that as adults they’ll be more confident and secure with their finances.

The workshop is, therefore, two hours that can really transform your children’s lives and allow you to give them an important head start in life.”

There are workshops running throughout July. To book your free place click here


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