Mar 12 2007
Financial education should start early, according to a financial services provider.
Simple games can be played to help children get a head start when it comes to the vagaries of real-life personal finances.
Co-operative Insurance suggests playing games such as 'Supermarket Sweep', in which children are taken to the supermarket and asked to buy food to make a balanced meal for the family with a budget of £5.
Another game, 'Value for Money', benefits both children and parents, as children earn treats if they succeed in identifying money-saving offers in magazines and newspapers.
Zack Hocking, head of saving and investments at Co-operative Insurance, said: "Initiatives such as this will stimulate children's interest in saving for the future and encourage them to carry on their savings habit into adulthood."
Co-operative Insurance said it has now opened over 26,000 child trust fund accounts, with average monthly direct debits of £28 on top of the original £250 lump sum provided by the government.
