Learning about finances begins early in South Auckland
It is never too early to start talking to your tamariki about finances and getting them involved in discussions on money, bills and saving. This will help your children start to develop a healthy relationship towards money and it becomes part of everyday conversation.
Our team were very pleased to be invited along to Onewhero Area school to chat some awesome young learners in years 1 to 4 about financial wellbeing.
Faith and Sandra discussed with the kids what is a need and a want, how to start thinking about budgeting and saving towards your goals. While the goals might be different to Mums and Dads it is never to early to start developing these skills.
Faith, Community Services Manager found it great to see so much interaction from the students “The kids were so on to it and they had awesome ideas about what is a need and a want. It was great to see that so many could identify that wants might have to wait if you have bills to pay”.
Adults can find it hard to talk openly about money and this can stop people reaching out for support when they need it. Starting these conversations early is so important as it helps to break down the barriers and helps people feel more comfortable talking about money.
The teachers at the school got behind the initiative and recognise these are important skills to build. “While these kids may not have bank accounts, savings or bills it is great to start introducing these concepts at a young age so that tamariki get a foundation of understanding about how to be more financially savvy”.
Here are some tips for starting this conversation with your children;
Talk about the food shopping, what the budget is, what you need to get, and involved your children in your weekly grocery shopping.
Talk about savings and talk about your goals as a family and the goals they have as children.
Open a bank account and start putting in a little each week for chores or helping around home.
Play shop with younger children but use real money so they can learn that money doesn’t grow on trees or live on cards.
If your child receives birthday or Christmas money, talk with them about a plan for spending and saving.
Show your children the bills that come in so they can understand where money goes, and it may even encourage them to look for savings!
We are all about empowering families to create a better future for themselves and their tamariki.
Mangere Budgeting Services Trust is urging people who are struggling to reach out.