In this episode, John McNicholas is joined by Phil Wellington of PortfolioMetrix to explore the often-overlooked subject of teaching children about money. From pocket money ledgers to the challenges of a tap-to-pay world, they share personal stories, practical strategies and lessons passed down from their own parents to help teach kids about money management.

Together, they unpack the importance of giving children a tangible understanding of spending, saving, and delayed gratification — even in an increasingly digital financial environment. 

As parents in the modern world, Phil and John’s advice can help you start early with your own kids and help them build healthy financial habits that will last a lifetime.

Main Topics:

  1. Pocket Money and Early Savings Lessons: Phil shares how his father sparked a lifelong interest in money through simple tools like ledgers and upfront interest — a playful but powerful introduction to saving.
  2. Why Tap-to-Pay Makes Money Feel Invisible: The conversation highlights how digital payments can obscure the real value of money for children — and what parents can do to make it more tangible.
  3. Cash, Consequences, and Making It Real: From handing over €20 in cash before a shop visit to choosing what to put back at the till, Phil and John discuss ways to help kids grasp the idea of limits and trade-offs.
  4. Turning Everyday Questions into Financial Education: Whether it’s “How much do you earn?” or “How much did the oven cost?”, John shows how family conversations can build financial literacy in a natural, age-appropriate way.
  5. The Power of Repetition, Routine, and Humour in Financial Learning: From piggy banks to “coin jar” app ideas, the episode explores how small, regular money habits can grow into lifelong skills — with room for humour and mistakes along the way.

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This podcast is intended for information and educational purposes only and does not represent a specific recommendation or advice for an individual to follow. Speak to your financial adviser, in the context of your own personal circumstances, prior to making any financial or investment decisions.