Naturally children often take some actions innocently in many respects but sometimes it may just be due to what they have observed and are reacting to.
A Press Association article last week brings this to light like i have never seen it before. Referring to a poll for the Personal Finance Education Group (Pfeg) and HSBC Bank, only 18% of seven to 11-year-olds said they would trust their parents to save for them, while some worried that mum and dad would spend the money 'by mistake' while 42% of pupils said they saved in a traditional piggy bank or money box.
Overall, three-quarters of the age group said they were saving money, while one in 10 were putting money to one side for university, a house or a car in the future.
Wendy van den Hende, chief executive of Pfeg, said: "Even by the age of seven, children are aware of the impact of money in their lives. Learning how to respect and manage money in their early years will give them the confidence to make responsible financial decisions as adults."
These children, in my opinion, have seen some aspects of their parents' (or relations') financial lives that they don't want to fall victims to; so they are taking action now. We can learn something from this, can't we?
The lession here is: if Mum and Dad can make sure that their Income is more than Outgoings, then they won't be tempted to spend their children's money 'by mistake'.
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