Financial literacy for young children is just as important as it is for adults. It helps them build a better foundation for financially literate and responsible adults. A recent study suggests that by age 7 children are able to develop a basic understanding of financial behaviours they might need in their adult life. Every year, most families are said to run into the same financial pitfalls which can be attributed to the lack of financial literacy instilled from a young age. For more on how we can encourage children to have a better relationship with money, we spoke to Stian De Witt, Executive Head of Financial Planning at NMG.