Financial responsibility

You might be surprised to learn that children's money habits are formed at an incredibly young age. In fact, research by the University of Cambridge has found that many children form the money habits that can stay with them a lifetime by the age of seven!

These habits can include how they value money, make spending decisions, and whether they are more likely to be savers or spenders when they reach adulthood.

Experts believe that our lifetime relationship with money is mainly formed when we are children. It’s not simply a case of whether our parents had enough money when we were growing up, or not. It’s more a case of how they dealt with money matters, if money was discussed, and whether money caused stress beyond the fact that few families ever have as much money as they would like.