Starting young: Parents perfectly placed on financial education

Maps developed a UK strategy for financial wellbeing

Jenna Brown
clock • 2 min read

Parents are best placed to provide financial education but many do not feel confident enough to talk about money with their children, delegates heard.

Speaking at the Personal Investment Management & Financial Advice Association (PIMFA) Women's Symposium today (17 April), Money & Pensions Service (Maps) Scotland manager and gender lead Allison Barnes encouraged all parents in the audience to talk money at home to build financial resilience from an early age. She said: "Money skills are formed really early. Parents and carers are one of the biggest factors. Children look to you to see what you are doing. "There are lots of ways to teach children about money but a lot of parents we have spoken to have a lack of confidence." Barnes ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Canada Life to sell onshore bond business to insurance firm Chesnara

Canada Life to sell onshore bond business to insurance firm Chesnara

Strategic review prompts transfer as Chesnara expands life and pension portfolio

Sahar Nazir
clock 23 December 2024 • 1 min read
Happy holidays from Professional Adviser

Happy holidays from Professional Adviser

Regular newsletters and content will resume on 2 January

Jen Frost
clock 23 December 2024 • 1 min read
The state of financial vulnerability in 2024 and what 2025 holds

The state of financial vulnerability in 2024 and what 2025 holds

'Most firms are now heading in the right direction with their vulnerability processes'

Richard Farr
clock 20 December 2024 • 3 min read