It′s quite likely that you don′t think all that deeply about money until you have to explain it to a child. At this point, you realise the true complexities of everyday finance and how it takes special skills and understanding to teach children the workings of money.

As the entrepreneurs and bank customers of the future, kids deserve a thorough education in all things finance. At CANSTAR, we take pride in encouraging financial institutions to do their utmost in providing a pathway to education by rewarding those institutions who implement programs specifically for youth banking and education.

At Canstar we have identified that there are two distinct parts to a kids′ financial education – the Juniors under 12 and the Youths, 12-17. Both have separate requirements due to their levels of understanding and use of money. Of course, suitable bank accounts play a key role, followed by facilities and educational programs.

In this year′s report, we looked at 29 financial institutions to find out what they are currently offering young people, whether on a national basis or confined to their own geographical area of operation.

We hope our research helps you help your children learn the ABC of money.

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