I’m Neil Edmond, co-founder and CEO of MoneyTime. Our award winning financial literacy program is designed to equip children globally with the knowledge, skills and confidence they need to make good financial decisions as they go through life.Right now I want to explain why teaching your children about money is important, now more than ever.The mountain is steeper for our childrenIn case you were wondering, it has been harder for our generation to get ahead financially than it was for our parents; and it’s going to be even harder for our children. I’ve identified 5 reasons why this is and why it’s important that your children learn about earning, saving, borrowing, lending and investing in order to not just maintain the level of financial security they were brought up with, but to imp

Talk About Money Every DayThis weekend, how about talking about money as part of your day-to-day conversations with your child. You can even turn lessons into games. If you’re talking about a profession, see who can guess closest to the median salary. If you’re at a restaurant, let your child guess how much each dish costs. Compare that amount against what they have in their bank accounts to give them some perspective. When you are grocery shopping, ask them why some things cost more money than others. Is it the same product with different branding? Or does it have more features or is it of higher quality to justify the higher price? When you're paying bills, take the opportunity to explain fixed household expenses versus discretionary ones. Include your children in financial decisions. F

Teach Kids How To Spend WiselyWhen your child has their own hard-earned money to spend, you’ll want to teach them ways they can get the best value. Here are some activities to help them learn how to do this.Comparison ShoppingPick a product and ask your child which stores they would go to to compare prices. Ask them if they can find a similar product at a cheaper price. If so, should they automatically buy the cheaper product? Not necessarily. Cheaper is not always better. Ask them what they think “The bitterness of poor quality remains long after the sweetness of low cost” means. The answer is cheap products may not taste as good, or be as good for you, or work, or last, or have to be repaired or replaced a lot sooner than a quality product. How do they know if a product is a quality