Q&A: How can you teach your children about money?

Millions of parents became teachers overnight after lockdown restrictions closed schools, ushering in the era of home schooling.

While this presents challenges for parents and children alike, one way to enliven the home school curriculum is by teaching your children about money.

Formal lessons are not the only route — although plenty of free resources are available online.

Older children could be challenged to use price comparison sites to get a better deal on household bills. If your child is about to turn 18, the lockdown could be the ideal opportunity to hunt for paperwork for the £900m of maturing Child Trust Fund accounts set up by the government as they start to come of age this year.

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Giving pocket money, trying one of the array of digital banking apps designed for parents and children, playing games and involving children with the household budget are all things that experts have suggested could be used to make learning about money fun, while passing on essential financial skills.

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