There’s the old saying that you can’t put a price on love. But the Bank of Mum and Dad provided $2.7 billion to their adult children to buy property over the last year. The Productivity Commission estimates mum and dad as a collective would be between the 5th and 9th biggest home loan lender in… Read more »
Kids’ savings accounts are generally horrible when it comes to features and returns – but some are better than others. As a father of four adult children and eight grandchildren, I’ve always been interested in kids’ savings accounts. Libby and I have always tried to instil good savings habits (with mixed success) into our kids… Read more »
Teens and money aren’t generally good mates, but they are actually uniquely positioned to take advantage of the power of compounding. Lucky ducks! On his 18th birthday, my son Ben asked me how he could be a millionaire by age 50. What a powerful question – one I wish I had asked at his age.… Read more »
While it feels impossible to save money these school holidays, it can be done. Here’s how to keep costs down while the kids live it up. School holiday spending can get out of hand. A couple of trips to the movies, a few lunches out, throw in a special activity like a theme park visit… Read more »
Each week we ask a question to help you focus on an area of your finances that might need a closer look. This week: What’s the best way to teach kids about money? One thing we definitely know about maximising your wealth: start as early as possible. Compounding is the key, so the sooner you… Read more »
If you want to build your own Future Fund for kids or your grandkids, these are the stocks experts currently recommend you buy. I often get asked by parents and grandparents about stocks to invest in to build a portfolio to help pay for the future education and costs of raising children. As I have… Read more »
These top money lessons are actually less about money and more about character. Which makes them the kind of life lessons that everyone should learn as early as possible. I got my first job at age 12 and I’ve been working ever since. I wouldn’t say I have “nothing to show for it” (though there… Read more »
We all need one, but getting the best deal on your mobile phone isn’t always easy. In most households, mobile phones are a big hit on the budget every month. There’s the cost of the phone itself, your phone plan and the accessories… Actually, if you have teens, the phone accessories are probably your biggest… Read more »
It’s not the amount of pocket money that matters, but the way it’s used. A few pocket money rules now will teach kids money lessons they will benefit from forever. Financial knowledge is the true value of pocket money. We followed these rules for own children and now we implement them for our grandchildren. Thankfully their parents… Read more »
One of the questions I am constantly asked by parents is what they should teach children about money, and at what age. By Pushpa Wood, Massey University Being a parent presents us with daily challenges, including decisions about what things to expose our children to. Talking about money is no different to talking about how… Read more »
