A common misconception is that budgeting is an exclusively ‘adult’ problem. People tend to think that they only have to deal with budgeting when they  are old enough to have bills to pay, but the concept of budgeting can take a while to grasp.

In this episode Dr Elizabeth Kilbey and Becky, a mum of two, talk about how teaching children about budgeting at a young age could be one of the most important lessons they learn. Whether it’s explaining that pocket money doesn’t last forever, or talking about how to keep the household running, Dr Elizabeth Kilbey and Becky look at how to break   a complex concept down into a simple life lesson for children.