On my Facebook page, I recently published the link to an article entitled "The worst things you can teach your kids about money".
Although only 3 per cent of my audience 'liked' the link, the article raises some very important issues.
Even at the tender age of 3,
my Son understands that Mummy and Daddy go to work in order to get money to buy things. Jack also comprehends that some things cost too much money and we can't have them. Is 3 too young to have an understanding of these issues?
Everything parents do while children are around demonstrates their values - how much they tip, whether they wait until payday to make a purchase, what they do when a clerk makes an error and even which expenses get cut from the budget when money gets tight.
Dr Soyeon Shim, from the Norton School of Family and Consumer Sciences at the University of Arizona, writes: "Parents who intentionally teach their children about financial management may exert a greater influence on children's financial knowledge than do lessons learned in high school and those learned in the workplace combined."
It is experts such as Dr Shim that lead me to believe that it is never too young to start discussing financial issues with my children but the emphasis should be on the belief that money isn't everything; happiness is key.
