{"id":65855,"date":"2024-02-01T10:02:29","date_gmt":"2024-01-31T23:02:29","guid":{"rendered":"https:\/\/cms.star1045.com.au\/?p=65855"},"modified":"2025-11-06T11:16:49","modified_gmt":"2025-11-06T00:16:49","slug":"here-four-hacks-to-put-your-kids-in-charge-of-their-money-asap","status":"publish","type":"post","link":"https:\/\/cms.star1045.com.au\/home\/here-four-hacks-to-put-your-kids-in-charge-of-their-money-asap\/","title":{"rendered":"Here Four Hacks To Put Your Kids In Charge Of Their Money ASAP"},"content":{"rendered":"\n

There are plenty of big life lessons as a parent, you will have to teach your kids, but perhaps one of the biggest life lessons has to do with the M word\u2026 money.<\/p>\n\n\n\n

As RNB artist Notorious B.I.G. once said, mo\u2019 money, mo\u2019 problems but talking to kids about money shouldn\u2019t be problematic.<\/p>\n\n\n\n

It should be straightforward, which is why we\u2019ve done all the hard work thanks to the Bank of Queensland, Erina<\/a> and compiled our list of hacks to teach your kids about saving money.<\/p>\n\n\n\n


Talk About Wants vs. Needs:\u00a0<\/strong><\/h2>\n\n\n\n

One of the very first steps when it comes to talking to kids about money is a want versus a need. While we all want to go see Taylor Swift on the Aussie leg on her upcoming\u00a0The Eras Tour<\/a><\/em>, this is as necessary for survival as basics such as food and basic clothing.<\/p>\n\n\n\n

So, use the early days to discuss with kids the importance of wanting something, versus needing something to help them distinguish between the important things such as food, water, and basic clothing amongst others. As compared to things, such as the latest smartphone or a brand new pair of sneakers.<\/p>\n\n\n\n


Talk About Money & Savings Early:\u00a0<\/strong><\/h2>\n\n\n\n

It\u2019s never too early to start having conversations with kids, especially when it comes to money. Starting positive money behaviours from a young age is important and ensures that your kids will be set up for success.<\/p>\n\n\n\n

The conversation doesn\u2019t have to be big and in-depth; it can be a progressive lesson over time teaching your kids about spending, budgeting, earning and of course, the big one \u2013 saving. <\/p>\n\n\n\n

\"The
The conversation can include explaining to your kids where money comes from (not trees, like we wish), and where it goes (Image: unSplash \/ Melissa Walker Horn)<\/em><\/figcaption><\/figure>\n\n\n\n


Provide A Place To Bank:\u00a0<\/h2>\n\n\n\n

Banking should be as easy as teaching your kids their ABCs, so that\u2019s why our friends at the Bank of Queensland (BOQ) have simplified the process that is helping your kids and teens navigate the banking world.<\/p>\n\n\n\n

BOQ has plenty of account options for kids \u2013 including the Kids Saving Account \u2013 at every stage of their journey, and they ensure kids are at the forefront of their own financial planning. Best part? BOQ will help you every step of the way.

Think personalised services from BOQ branches such as the one at Fountain Plaza Erina plus the little things, such as kids receiving statements in their name so they can watch their savings grow, plus access to competitive interest rates to help your child save.<\/p>\n\n\n\n


Make Mistakes & Celebrate Money Wins:\u00a0<\/strong><\/h2>\n\n\n\n

Now, this is a big one. When it comes to teaching kids about money, remember that nobody is perfect. Make sure you let your kids make mistakes with their money while they\u2019re young and let them learn the lesson from that moment.<\/p>\n\n\n\n

But at the same time, don\u2019t forget to celebrate the big wins with them. Saved up to the goal amount? Then be sure to have a celebration no matter how big or small the goal is.<\/p>\n\n\n\n

The hacks suggested in this article are general in nature and is not intended to influence the reader\u2019s decision about investing or financial products. <\/em><\/p>\n\n\n\n

The reader should always seek their own professional advice which takes into account their own financial circumstances before making any decisions of a financial nature. <\/em><\/p>\n\n\n\n

This article has been sponsored by the Bank of Queensland\u2019s Erina branch.\u00a0<\/em><\/p>\n\n\n\n

Images:\u00a0unSplash \/ Melissa Walker Horn <\/em><\/p>\n\n\n\n

By Bek Lougher<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

There are plenty of big life lessons as a parent, you will have to teach your kids, but perhaps one of the biggest life lessons has to do with the M word\u2026 money. As RNB artist Notorious B.I.G. once said, mo\u2019 money, mo\u2019 problems but talking to kids about money shouldn\u2019t be problematic. It should […]<\/p>\n","protected":false},"author":9,"featured_media":65896,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[12,13,9229,9178],"tags":[],"geo_market":[],"class_list":["post-65855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-home","category-lifestyle","category-lifestyle-lifestyle","category-money"],"acf":[],"yoast_head":"\nHere Four Hacks To Put Your Kids In Charge Of Their Money ASAP<\/title>\n<meta name=\"description\" content=\"Teaching kids about money should be straight foward, which is why we've compiled our list of hacks to teach your kids about saving money.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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