Why the years before seven are the golden age for financial education

“It is only after I speak with people in my community, my friends and my peers that I realise how much we know because of what we do, and how much other people don’t know.” When starting out in financial journalism, FT Adviser deputy news editor Sonia Rach began studying for the Diploma in Regulated Financial Planning with the Personal Finance Society, to better understand our readers’ profession. And, as she told FT Adviser editor Simoney Kyriakou in the latest Margin Notes podcast, she realised there were so many concepts that just had not been discussed or explained to her when she was younger. This spurred her on to think more widely about financial education. She soon realised that it was vital to promote financial literacy from a young age, particularly concepts such as investing and compound interest, with the years up to seven being vital when it comes to forming habits. This resulted in the launch of her first book, Loose Change: Tina Learns to Save, which was published in 2023. Since then, Rach has been taking her book into schools, doing readings and helping to explain concepts such as interest and saving very simply to primary-age children. She asks the children questions about investing before the reading, to gauge their understanding, and then again at the end. Rach said: “At the end of each reading, it is amazing to me how much the children have retained. It brings to life that maxim that money habits are set by the age of seven.” FT Adviser is a service from @Financial Times Subscribe to FT Adviser at https://www.ftadviser.com/?utm_medium... #financial advice #financialadviser #financialplanning #financialservices #financialplanners #business #news #finance #pensions FT Adviser is a journalistic product which is for general information and entertainment purposes only. Our content does not constitute any form of advice, recommendation, representation, endorsement or arrangement by the Financial Times. It is not intended to be and should not be relied upon by users in making (or refraining from making) any specific investment, purchase, sale or other decisions. Appropriate independent advice should be obtained before making any such decision, such as from a qualified financial adviser.