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How to teach kids about money in a digital world

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Wealth advisers say helping children understand cold, hard currency is still crucial to building a strong foundation.

Wealth advisers say helping children understand cold, hard currency is still crucial to building a strong foundation.

PHOTO: PIXABAY

Charlie Wells

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The first time a child taps a phone to pay for something, there are no bills handed over, no coins counted back. The money disappears with a beep.

For many parents, that’s the moment they realise an uncomfortable truth: They don’t know how to explain what just happened.

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