By age seven, our views about money have already been shaped and will influence the way we manage our finances as adults. These views are largely based on observing the money habits of our parents. This is what behaviour experts at the University of Cambridge have recently found. Dr Kym Irving, from the Business School at Queensland University of Technology, says parents have a major impact on our habits around money management. Irving says skills learnt in childhood such as self-regulation, planning and delayed gratification, underpin good financial habits in adulthood.
“It is not just what parents say but also what they do. For example, parents who always give in to children’s requests for impulsive purchases like lollies
