Kids learn their money habits early

Financial habits are learned by the age of seven according to Britain’s Money Advice Service and a Cambridge University study that found most young children had grasped all the main aspects of how money works and formed "core behaviours which they will take into adulthood and which will affect financial decisions they make during the rest of their lives".

Caroline Rookes, chief executive of the Money Advice Service, said the findings demonstrates the power of parental influences.

Michael Gove, Britain's education secretary, announced that personal finance education would be taught to secondary school pupils.

Source: Sydney Morning Herald