Research has shown that teaching children about money when they are young, is likely to lead to a better understanding of savings and the ability to delay gratification in order to meet a long-term savings goal (Source: MyBnk).
How does early learning help children to manage money?
According to the research, seven-to-11-year olds who have received lessons in saving money and working toward long-term goals, are better able to understand financial decisions and the consequences they will have. Furthermore, many children displayed increased ability to:
Delay gratification (68%)