A world of words
The present economic downturn has made money a common issue in our family discussions.
A new study from the BBC shows that looking after money isn’t easy. Over 109,000 people took part in the BBC’s Big Money Test. It was one of the biggest ever studies on the psychology of money.
One of the biggest findings is that money makes many people feel bad. Researchers say over 40 per cent of us always worry about spending money; a third of us constantly worry about money; and the same percentage feel guilty when spending money on themselves.
The study found that women like to go shopping to make themselves feel better about life, while men are more likely to save their cash. Women are more generous with their money and are also more likely to suffer from money problems.
Therefore, should we tell our children where money comes from and what it is for ?
Experts say that children should learn good habits to know how to handle money, and make the most of the coins they get from their parents.