Money Box Live: Children's Finances
Summary
Moneybox Live discusses how to best prepare children for a financially stable future, prompted by a rush to protect family finances before the budget. Experts weigh in on the effectiveness of pocket money, various savings vehicles like Junior ISAs, and the often-unclaimed Child Trust Funds. The episode also delves into modern financial challenges, including in-game spending and online influencer advertising, offering practical advice and strategies for parents to engage their children in understanding and managing money responsibly.Episode description
More than half a million young people are yet to claim their Child Trust Fund which could be worth up to £2,200 according to the government, but how do you know if your child has one or even how to get it?
Plus with the Chancellor's budget on the way, we know parents are topping up Junior ISAs and giving away monetary gifts ahead of any changes she might make.
So, today we're looking at how to build a solid financial future for the children in your life and how to help get them get engaged when it comes to their finances.
Felicity Hannah is joined by Stephanie Fitzgerald, Head of Young People at the Money Charity and Sarah Coles, personal finance analyst at Hargreaves Lansdown.
Presenter: Felicity Hannah Producers: Sarah Rogers and Craig Henderson Editor: Jess Quayle
(This programme was first broadcast at 3pm on Wednesday the 23rd of October 2024)