By Iona Bain
It’s that awkward conversation many parents dread – no, not about sex, but money. It is one of the most valuable discussions you can have, but a worrying number of parents shy away from talking about financial issues, according to research for Times Money. About half of these parents believe that they don’t have the knowledge or the confidence to pass on financial wisdom, while a quarter say they don’t have time.
The survey, by Experian and the Personal Finance Education Group, found that most families believe schools should be doing more to enlighten the next generation. Personal finance became a compulsory part of the curriculum in 2014, but only for those children in maintained secondary schools.
Academies and free schools, heavily championed by the Government in recent years, do not have to follow the national curriculum; this could explain why only 26 per cent of pupils received lessons on money last year.
Here are ten tips for teaching your children about money.
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