It can be challenging to help children understand the concepts of spending and saving when they watch you ‘tap’ and ‘swipe’ instead of handing over physical money.
Research from the Financial Planning Association (FPA)  reveals that 68% of Australian parents are reluctant to speak to their kids about money, or they don’t know where to start. But the report also revealed that children whose parents talk to them about money are more curious, confident and financially literate than their parents were at their age. And parents who receive financial advice are much more likely to feel comfortable talking to their kids about money.
That’s why it’s crucial than to consciously teach your children about money: how to spend it and how to save it. Here’s five ways to do it.