Talking About the Economy
We all talk about it, but it can be a bit hard describing the economy to kids. Here’s a few easy ways in
Here at RoosterMoney HQ we know building good money habits isn’t just about having a pocket money routine, it’s about all those little conversations and money management decisions that go along with it too. So we’ve pulled together a few guides that should help with some of those areas. We’ve split them into two categories ‘talking money’ and ‘managing money’.
We all talk about it, but it can be a bit hard describing the economy to kids. Here’s a few easy ways in
Have your children just asked you ‘what is the stock market?’ Try this simple, fun guide from the educational pocket money app for kids and parents, RoosterMoney.
Do you understand how saving for later life works? Could you explain it to your kids? Try reading through this primer with them, and it should help
Do your kids know what a bank statement is? How would you describe one? Here’s a few easy ways in.
How well do you understand this new, digital money? Could you explain it to your kids? Try reading through this primer with them, and it should help
Have your children just asked ‘what is a mortgage?’ Try this simple, fun guide from the educational pocket money app for kids and parents, RoosterMoney.
How well do you understand this new, digital money? Could you explain it to your kids? Try reading through this primer with them, and it should help
Don’t know how to explain banks to kids? Here’s quite a few ways in, all of which should help to foster financial literacy in children.
Finding it hard to explain money to your children? Then try these ways in, all of which should help to foster financial literacy in children.
Compound interest is the super power that expands your savings – or makes a mountain of debt. The earlier you understand compound interest, the earlier you can start making the most of it!
Talking about the different methods can help kids realise plastic cards aren’t a magical source of money!
No-one likes thinking about death, but if the worst should happen, life insurance can help protect your nearest and dearest from money worries. Here’s our simple guide on what to consider.
Sadly, money doesn’t always appear magically as pocket money or birthday presents. Helping kids earn cash, rather than just handing it out, can teach them about the value of money.
Introducing the difference between Needs and Wants will help your kids decide where to spend right now, and even how to budget in later life. Win-win.
Premium Bonds are a saving account with added excitement. Instead of earning interest on your savings, you get the chance to win tax-free cash prizes every month. You might win a million pounds – or you might win nothing at all. However, unlike a lottery, you can always get your savings back. It’s worth noting that the Premium Bond rate is set to be cut in December 2020 which will affect your chance of winning.
Setting a goal gives your kids a reason to start saving!
Picking the right children’s savings account isn’t just a matter of spotting the highest interest rate. There’s a bewildering range of options, so first you’ll need to think about what you want from a savings account. Here we break down the basics for you.
We break down exactly what Junior ISAs (JISAs) are, without the jargon, so you can decide whether they’re right for your family.
Explaining the basic concept of interest can really jump start your child’s enthusiasm for saving and help avoid running up debts in later life.
