- Wednesday, 26 May 2010The recession has taught children the value of money with some learning that if they want something they need to earn it, reveals an expert.
Jasmine Birtles, founder of moneymagpie.com believes that the recession has been a good thing for children in the educational sense.
She said: "It's made a lot of them more realistic about money and not just expecting to get 'designer this and the latest that' and wanting things all the time.
"They are getting a bit more of a sense that money doesn't grow on trees and if they really want something then they are probably going to have to buy it themselves and have to earn it."
Furthermore if children know the value of money it could prevent them from having to take out a
debt management plan in later life.
Santander revealed on May 20th that 773,000 ten to 15 year olds have effectively 'set themselves up' in business and are making profits of just under a billion pounds collectively.
Some children are walking pets (13 per cent), helping neighbours with car washing or gardening (nine per cent) or doing a paper round (nine per cent) to earn money.
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