Research shows kids’ bank accounts are missing out

Posted: 2/02/2017

​​Nearly half of Australian parents say they cannot afford to put money into children's bank accounts, many not realising that just $10 a week can provide more than $12,000 to kickstart their child's adult life.

Harnessing the power of compound interest and regular savings over many years can deliver tens of thousands of dollars from birth to age 18, a News Corp Australia analysis has found

​The MFAA is running a financial literacy initiative which aims to help school children understand more about money. By delivering a short presentation at your local school or community group, as a member, you can engage directly and share your knowledge with teachers, parents and children. Global Money Week takes place from 27 March – 2 April, however presentations are not limited strictly to this timeframe. Find out more about Global Money Week here.

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Website: http://globalmoneyweek.mfaa.com.au/​

Facebook page: https://www.facebook.com/GlobalMoneyWeekAus/​​