Education is in our hands. Let us hold hands

1. As soon as a mother conceives, the parents should set up a high interest savings account for their child.

2. Give your children weekly pocket money (no matter how little) from an early age (as soon as they have a basic grasp of the idea of money) and get them to save this in a piggy bank

3. Periodically deposit money from the piggy bank into the high interest savings account

4. Allow your children to spend a small proportion of their annual savings each year as a reward

5. Teach your children to save the majority of money received on their birthday, Christmas or from relatives; whilst allowing them to spend a proportion

6. As your children mature teach them about household budgeting. Explain to them the cost of various essential items of household expenditure e.g. food, gas, electricity, telephone, petrol. Make you child an ally in controlling household expenditure and not an adversary who constantly whines for more!

7. Teach your children to save electricity, gas, water etc. by switching off lights, electrical items and not to leave taps running whilst brushing teeth. This will save money and is good for the environment.

8. Teach your children that money is a tool to be used and valued but never worshipped.

9. Carry out some blind taste tests with your children on products they consume to demonstrate how in many cases branded food/drink items are no better than unbranded food/drink items (and sometimes are made by the same manufacturer)

10. Do not get your children hooked into brands, you will be creating a millstone for your own neck.

11. Practice what you preach!