In India, finances are private and not discussed much with children, but child workers have their own bank. In the UK initiatives to help young children shop online are becoming popular. Hong Kong children use apps and games to learn about money. Mexicans give their children “domingos” - or a regular allowance. South Africa has adopted the US's “Teach Children to Save Day”, and in Australia, experts visits schools to teach the children about money. Below is a deep dive of my findings. GENERALLY... Generally, from the age of three, children are able to identify different coins and understand that money is used to obtain things, and children’s money habits are formed by the age of seven, according to researchers at Cambridge University, and to a Mexican consumer protection agency. In a Synovate survey, most parents around the world believe it's important that children learn about financial responsibility, with 78 percent teaching them how to save money and 72 percent showing children how to compare prices to get the best deal. Forty-three percent of parents involve their children in saving for their education, with Chinese and Cypriot children (60 and 55 percent respectively) topping that list. Sixty-nine percent of Canadian parents, and 66 percent of US ones, do not involve their children in saving for their own education. Thirty percent of Slovakian parents - more than their counterparts in any other country surveyed - teach their children how to use a ch account or credit card. INDIA In India, finances are quite a private affair. Many believe that the amount of money they have is a measure of self worth, and pass this belief onto their children. According to Indian Moms, parents use money to control or bribe children, rather than teaching them how to effectively manage it, and rarely discuss money with their children. The site encourages parents however to be an example with money to their children, to give them an allowance, and to allow their children to work part time, as a way of enhancing responsibility. Another Indian parenting website recognises that children aren't usually involved in financial discussions, but encourages parents to involve their kids in decision making, talking with them about how money was saved and earned for a future family holiday, for example. From the discussion, it seems, at least among the Indian middle class, that giving kids pocket money for household tasks or a weekly allowance is fairly common. For many working street children, there is the Bal Vikas Bank, or the Children’s Development Bank (CDB). Children make the rules of the institution, with volunteers from financial institutions teaching them banking skills. To open an account, a child had to fill out an application in exchange for an account number and passbook. An initial minimum deposit was required, and the interest was 3.5 percent per month. UK One unique initiative in the UK is that children aged eight to 16 are able to shop online with their own Visa debit card. Kids can use the card in a restricted range of shops and to withdraw cash. The company, PKTMNY says its service aims to help children manage money in an increasingly cashless world. There are other pre-paid cards on the market aimed at young people, including MeCard and Splash, but the minimum age is typically 13. HONG KONG It's seen as parental responsibility to teach children financial literacy at an early age. There are apps and web sites which make learning the value of good financial decisions engaging and fun. For example, Pennybox, allows parents to set a list of chores and children get paid for doing them. Celebrity Calamity is an app​ which allows children from as young as six to act as financial consultants for spendthrift, out-of-control celebrities. MEXICO In Mexico, as a certain childhood initiation, kids are giving a “domingo” or “Sunday” so that they can learn to save and spend their money sensibly. The domingo is basically an allowance given at a regular, fixed interval. They money isn't typically associated with the completion of a task and the parents don't usually talk to their kids about it. Some children are encouraged to store part of their domingo in a piggybank, as a way of encouraging them to save. When the piggybank is full, they go to the bank and make a deposit in a new savings account. Most banks have special children’s bank accounts. SOUTH AFRICA Parents in South Africa feel that their children have been brought up to be very materialistic, where buying is equated with happiness, yet aren't taught much about money. Some parents are pushing for a culture where children are included in family budgeting. Yet, global market research company Synovate found that the vast majority of parents (91 %) teach their children to save money. Seventy-nine percent of South African children play no part in saving for their education. South African and Canadian children are most likely to receive a set regular allowance, at 34 and 32 % of parents respectively. Thirty-six percent of South Africans allow their children to spend their pocket money however they wish, while 39 percent state that they give input into what their children spend money on, but that their children have the final say. While 96% of US children have to do a chore for their pocket money, that figure is only 52% in South Africa. South Africa is now trying out the US's Teach Children to Save Day, with support from some banking institutions (The Banking Association of South Africa and the African Savings Institute). The campaign is aimed at students from grades four to seven. It also coincides with South Africa's Savings Month – July. Teach Children to Save SA has also adopted motto of Savings Month, Ligotshwa lisase manzi, a Zulu saying that means that if you want to shape a stick, you will best do it while it is still moist - referring to the need to focus on youngsters. CYPRUS Synovate found that a majoirty of Cyprus parents teach their kids about the stock market. Cyprus also came second in the Synovate survey for parents involving their children in saving for their education, after China. 89% of Cyprus children don't have to do a task for their pocket money. CHINA According to the China Daily, some Chinese children reportedly received up to $3,000 as gift money during Spring Festival. But instead of helping their children properly manage the gift money, an overwhelming majority (about 80 percent according to a survey) of Chinese parents decided to use the money in their own way. AUSTRALIA Australian culture is focused on saving. Unlike the US, credit card debt is not widespread there. Children are sometimes encouraged to hone their entrepreneurial skills, such as designing t-shirts and selling them online. Other times, older children do work such as babysitting, newspaper delivery, or teaching younger kids, for some extra pocket money, and it is normal to work casually from age 15. With the transition to cardless and cashless money, some kids are being given notional budgets, from which they deduct expenses, and add money earned from chores, with left over money at the end of the year doubled towards a Christmas present. The average Australian child receives $10 in pocket money. The MFAA runs presentations in schools to ensure children are financially literate. CONCLUSION It seems that a lot of the cultural differences in terms of teaching children about money and saving vary according to technology, and access to internet and bank cards, and where children have their own smartphones. Another variant is how taboo a topic money is, and then perceptions about children working, performing chores, or “earning” their pocket money. Thanks for using Wonder! Please let us know if we can help with anything else!