Understanding Money

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Money, not everyone understands it and for that reason not everyone has it.

“There's a lot of kind of social status regarding money and people feel that if you have a certain amount of money then you are deemed successful and if you have a lack of money then there are other connotations associated with it.”

I recently spoke with Mieka Harris, education manager for the Citi money gallery education program in London. She says despite money being the basic building block of life most people don't have a proper understanding of how to use it. She says a lot of times this starts with how people are taught about money by parents and children.

“All they can see at the moment is maybe the shopping that happens in the family or when they receive money for birthday presents they haven't got the same idea that they'll be paying rent, paying bills, a mortgage it's very hard to associate those feelings when you're 6 years old, 11 years old, even 15 years old.”

But you're never too young to start.