Santa & money

Did you know that children as young as 3 years old can grasp money and financial concepts like saving and spending?

Did you know that what we see and hear about money when we are very young children stays with us for the rest of our life?

Research suggests that our money, spending and saving habits are formed by the time we are aged 7. Parents, carers and family members are the number one influence on children’s financial behaviours.

Some people call this time in a young child’s life the Santa Claus Stage. The Santa Claus Stage is a time in life, normally up to the age of 8 years old, when children believe almost everything that their parents, carers, close family members, school teachers – and even the TV and movies – tell them. What all this really means is that if you tell your young kids – or that they hear you say – that money is evil or that money causes arguments then your children will spend the rest of their life unconsciously thinking that money is bad and creates problems.

What thoughts and feelings about money do you remember from your parents, grandparents and TV from when you were a young child?

Money is the number one thing that most couples and families argue and fight about. Money, debt, shopping and overspending is a biggest source of tension in most modern households. Especially as 33% of Australian households are living pay-cheque to pay-cheque. Aussie’s no longer have a saving money mentality, our spending is driven by the desire to live in the moment and to portray the lifestyle we think we should have and our “buy now, pay later, you deserve it’ thinking, which now has millions of us trapped in debt.

How do you talk about money with your partner?

What are your children learning about saving money from you?

How do you talk about spending money at home?