How to talk money with your students

Talking openly about money is vitally important for our health, wealth, and relationships. Research shows that people who do:

• make better and less risky financial decisions
• have stronger personal relationships
• help their children form good lifetime money habits
• feel less stressed or anxious, and more in control

What children see and learn about money in childhood will influence how they manage their money as adults. To be able to manage their finances well, children need to observe, talk about, and experience using money on a regular basis while they are growing up.

Just over half of 15 to 17 year olds who receive money on an ad hoc basis keep track of their income and spending, whereas almost two in three of those who receive a regular, fixed sum are aware of their financial incomings and outgoings.'

Talk Money Week 2018

Useful resources to use in class

• Talk Money 2018 participation pack
• An infographic to use to talk to students about managing their finances while studying
• How to minimise the biggest costs of going to university
• National Association of Student Money Advisers (NASMA) – Student Money Manual
• NASMA – student diagnostic tool