I have seen a few conversations on this forum and suggestions from the community who would like to add kids accounts to Emma.
So I have 2 Questions:
How do you teach your kids about money/debt?
What do you think kids should be taught at school?
Would love to know your thoughts 
PSA: Not my kids but my brother and sister
I try explaining to them money is something you have to work for and it has an innate value.
If you don’t have money you can’t buy anything.
I don’t teach them about debt - I’d rather they don’t go near credit or even think about it until they’re 18. All they know is that debt is when something is owed to someone.
How to do personal finances. Budgeting, managing credit (although this should be taught Y10/11 only), how to properly abuse rewards, cashback sites etc
Real day shit. Not some bollocks they think is going to be useful to me - like Pythagoras
My husband is a pension advisor at a private bank firm, we often discuss that why kids are not taught in school that they need to set up a pension in order to survive their retirement. It is really important, but most young people just don’t get it. Also understanding the power of compound interest would really help them save a lot of money in the long run!
Compound interest is yummy.
Can you ask your husband if alternatively ditching paying into pensions and buying shares with that money for your entire life could eventually have you with enough incoming money to survive comfortably off?
Assuming that’s near enough his field of expertise anyways 
I’ve been curious and I’m trying it out now over the last month, although I’m obviously in the very early stages!
That’s really good! I feel like sometimes parents/family forget to teach their kids the importance of money management and would rather not get them involved or make them worried.
It seems silly for your kids to not have any awareness around your financial situation, unless you are really struggling and again you don’t want them to worry. Although it would teach them not to be in that situation themselves.
I definitely think kids should have lessons in all of the above, especially creating a budget and what debt really is. I also think kids in schools should be taught what a student loan really is and how it works as I never really understand or knew what it meant, other than the fact I would have to pay it back at some point.
This is SO true! I never understood what a pension was when I was younger how it worked etc. I still know people today who are like I will probably pay into a pension in a few years but aren’t that bothered and I am stood there like you are going to have to work till you are 80 unless you don’t start saving.
I know quite a few people who pay into their own private pensions but I suppose you don’t get the benefit of your employer contributing so it takes longer to save up.
Hi Rec, well his general view (not advice, you should make your own decision) is that pension should be part of your long term personal finance strategy. By setting up a regular payment into your pension, you can balance out the ups and downs of the market, so over the long term (20-30 years) you would benefit growth. You can choose different funds for your pension based on your strategy and risk tolerance. The benefit of pension over investment ISA is that you get tax relief (think it’s 25%, don’t quote me) when the money is going in, so you benefit bigger growth. For ISAs, it is a bit more flexible than pension, as you can withdraw the money whenever you want (tax apply when withdraw), but it does the same thing as pension. In terms of whether to buy funds or individual shares, funds are easier as they have professional teams to manage the portfolio, individual shares are a lot more risky.
Hope this helps, it’s hard to explain in a few words, lol.
Why not invest in shares / index funds in a pension wrapper? Surely that is the best of both worlds? Although not my area of expertise.