Children’s knowledge in managing finances a priority

ACCORDING to a study by the University of Cambridge, children form money habits as early as seven years old, and most of what they learn comes from observing their parents’ spending habits.

And although not actively taking down notes on how their parents spend their money and rifling through the receipts, children pick up on how parents prioritise certain items. This ranges from how they choose to spend their money – from buying large expensive electrical items to small everyday grocery purchases.