K&H: financial awareness can also be added to the basket along with the bunny

Entertaining children at Easter is a serious challenge for families, which also puts a strain on their wallets. While parents are paying attention to stretching until their blankets reach, they can also focus on introducing children to finances in the festive excitement.

According to K&H, all such occasions offer children the opportunity to learn about finances in playful, real-life situations – similar thoughts are expressed by Louise Hill, co-founder and CEO of a British-American financial technology company. Citing his own company’s data, he said that their young British customers receive an average of 17.92 pounds, or about 8,600 forints, from their family members and friends at Easter. This is not much compared to the price of a smartphone, but it is possible to manage it. It is suitable for parents to teach their children how to handle money in a way that they do not notice and thus do not abhor it.

Set goals!

It is advisable to encourage children to set goals. Divide the money so that one part is spent and the other is saved. This way, they can get used to keeping their finances in balance from a young age. Hill believes that they can get a taste of what a person’s financial security grows on. This kind of goal-oriented approach is also at the heart of K&H’s “Watch out, ready, money!” program.

It’s worth offering interest!

Parents can make a generous offer to help them understand the value of saving. They can say that if a child can stop themselves from spending, say, five pounds over the Easter holiday period, they will receive a small amount of interest, say one pound. The lesson is that money can grow over time if we treat it with discipline. According to K&H’s experience, such illustrative examples can also help to bring the concept of savings closer to children.