How children get money lesson from their parents

We learn many things from others and one of the most important lessons is how to deal with money.

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How to budget, what to spend money on and how to ensure you do not have too much month left at the end of your money are some of these important lessons.

In many South African households where every rand counts and a single income often supports everyone, mothers step in as the financial managers, ensuring that every expense is carefully planned, says Sandi Richardson, HR executive at RCS and mother of a teenager.

"There is a reason for the saying that an apple does not fall far from the tree. Children absorb the behaviours instilled by their parents, regardless of whether it is intentional or not." says Richardson.

"When mothers demonstrate financial discipline, prioritise savings and make informed financial decisions, their children are more likely to adopt these habits." Similarly, children will also pick up on irresponsible spending behaviour, she warns.