How much do your children understand about money?
Do they focus on spending, saving or a mix of the two?
I aim to educate my children about the importance of managing money well. As a former advice worker, I have seen numerous individuals and families struggling to manage their finances. Many of them were facing an unfortunate change in circumstances but some had clearly never learned the basics.
When I say that we cannot afford something that they want, it hurts. However, I am comforted by thinking I am getting over to them the concept of a budget. I am hoping this will serve them well in the future.
Check out this video where bloggers’ children outline their ideas on spending and saving. It is informative and amusing in equal measure. My own son appears and exposes one of his father’s financial habits.
Do you remember the NatWest pigs? I remember wanting them so much as a child in the Eighties. As a young adult, I remember getting ridiculously excited when staying at a friend’s house because he had the full set.
There are some new and modern NatWest pigs on the block. My children liked them and have already started using them. The good thing is that the very fact of having the pigs makes it easy to start a conversation about money management in a fun way.
Aardman Animations, also famous for Shaun the Sheep and Morph, has created six new characters to help children learn about saving money. It’s time to get to know Pigby and Friends.
Customers taking out the new NatWest First Saver account will receive a free ‘Pigbybank’. An interactive savings smartphone app featuring Pigby and Friend is also available.
The NatWest First Saver account is open to children under 16 and they’ll earn interest on their savings. It’s an instant access account which means that savings are not locked in – helping children to balance saving versus spending.
NatWest will also provide First Savers, and their parents, with fun savings tips and tricks, initially through a welcome pack and ‘Pigby’s savings zone’ online portal.
David Crawford, Head of Savings at NatWest, says: “Many parents may fondly remember the NatWest pigs from their childhood, and we hope this new generation of pigs can help teach children that saving can be fun as well as beneficial in later life”
For more information on the account please visit www.natwest.com/firstsaver or head to your nearest NatWest branch.