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Money-smart kids start with money-smart parents
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How parents talk about and handle money teaches children whether the world feels safe and predictable.
ST ILLUSTRATION: MANNY FRANCISCO
Follow topic:
- Financial socialisation, starting early, shapes children's attitudes towards money.
- OCBC's MyOwn Account shows children, when given financial autonomy with parental oversight, develop healthy saving habits and prudent spending behaviours.
- Open, age-appropriate discussions about money, balanced with emotional security, teach children financial management and build confidence, says Dr Teo.
AI generated
SINGAPORE – Many older Singaporeans would remember the blue POSB (Post Office Savings Bank) book – an emblem of pride and financial discipline.
After every Chinese New Year, we would eagerly count the crisp new hongbao money we received before tucking them into the blue book and making a trip to the bank, where we would deposit the notes and watch the teller update the savings book.
