Pocket money shouldn’t be in return for chores. Chores teach our kids responsibility and should come without expectation of payment, responsibility is a life skill that we should be teaching our kids as a part of growing up. The most important lesson when it comes to pocket money is to teach your kids what to do with it.

The 2017-18 Federal Budget has been delivered with the government saying they will be over-spending to the tune of $27 billion dollars over the next 12 months. How are they going to pay for this over spending? Unlike the family budget, the government can increase the cash they receive by increasing taxes. How do you explain budgeting to your kids?

As parents we love our kids, which is why when our children run into financial trouble, parents dig into their own pockets to bail their children out. Yet by doing so parents are actually supporting their children’s bad money habits.

The 8 year olds with mobile phones… and debt

Research shows that 35% of kids aged 8-11 have their own mobile phone. We are all aware of the negative impact screen time can have on your kids but are you also aware that you are potentially exposing your kids to debt? Finance Expert, Author and Speaker, Robert Bihar, joined Nick Bennett on the show to answer this question. goes here

Robert discusses with Verity and Laura why the bank of Mum and Dad needs to forclose.

Recently it has been reported that 1 in 4 children go to their parents for financial assistance. Parents should not be viewed as a plan for getting out of debt or as a line of credit that can be used in advance. This financial "assistance" has the potential to have the opposite effect, as it can become a cycle of assistance that is hard to break, especially if the children have not been taught how to manage money.re