Introduce ATMs saving & banking to kids by age 11
It is up to parents to teach their kids about saving and banking say financial experts.
ipac financial adviser Petra Churcher said: “Many children believe money comes out of a hole in the wall and don't understand its value.
“Start with pocket money around the age of six and let them learn to put a little bit away – they need to learn to save some and spend some.”
Parents should introduce internet banking, direct credits and ATMs around age 11-14, so children are comfortable with the technologies before hitting the workforce, Churcher says.
Source: Herald Sun