Nila Sweeney

So many regrets start with ‘if only’ – if only I bought property in an up and coming area when it was cheap, if only I didn’t rack up huge credit card debt in university, if only I started saving when I was young….


Unfortunately, you can’t correct the mistakes of your youth, but if you’ve got kids then you have a chance to make sure they don’t repeat the same ones.


If you’re not sure where to start, or when for that matter, then check out Andrew Lendnal’s book Gold Start: Teaching your child about money.


Lendnal suggests it’s never too early to turn your kids into junior tycoons – and parents can start imparting financial wisdom to children as young as three.


Gold Start covers children of all ages with 15 lessons addressing the skills that infants, toddlers, pre-schoolers, school-ages children and tweens require to be money savvy.


Here’s a quick look at what he considers “age-appropriate” lessons about money:


Ages 3-5: Learn how to differentiate monetary values of coins and notes.


Ages 6-8: Receive a monthly allowance.


Ages 9-12: Make deposits in a savings account (but not withdrawals!).


Ages 12-14: Save for long-term goals.


Teenagers: Open a cheque account (and help them balance it).


In addition to giving parents practical tips, Gold Start includes family activities and games designed to help children learn about money in a fun way.


It also includes a final chapter for parents with valuable tips on how to start planning and saving for your child’s university education – whether they are 14 days or 14 years old.

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now