Herald - Issue 418

27th January 2022 • The HERALD • Page 53 v THE HERALD - Your Community Magazine v Tel: 023 8254 7600 TMT House, 12 The Marsh, Hythe, Southampton, SO45 6AL enquiry@tmtlegalservices.co.uk www.tmtlegalservices.co.uk Your Local Legal Specialists WILLS & PROBATE ONLINE AND PHONE CONSULTATIONS AVAILABLE Call the Team on 023 8254 7600 or visit our website for our online quotation tool where you can also instruct us BRYANT & CO Chartered Accountants & Business Advisers We provide a wide range of accounting and business services to individuals, partnerships and limited companies. We specialise in working with family owned businesses, providing guidance and advice as appropriate. Our services include: • Annual Accounts • Bookkeeping • VAT • Payroll and CIS • Personal and Corporate Tax Returns • Management Accounts • Business Advice • We also provide training on the use of Sage and Quickbooks, and the implementation of computerised and manual accounting systems. • Meetings can be arranged to suit your needs, including evenings and weekends if more convenient to you. • The initial meeting is free of charge, regardless of the length of time, as we believe it is important to develop a good working relationship from the outset. • All fees are agreed in advance of any work being undertaken. Please call Peter or Lisa on 023 8089 4982 to arrange a meeting to discuss your business needs. You can also contact Peter on 07976 808969, or email us at info@bryantandcompany.co.uk Have a look at our website www.bryantandcompany.co.uk for a fuller understanding of our business. ASK A PROFESSIONAL between work and money, household chores and pocket money is also a great opportunity to show children how to save. If your child has shown interest in a more expensive purchase, you could set them up with an old-fashioned piggy bank where they can ‘deposit’ their earnings or a chart for them to ll out so they can track how much money they have. 7. Reward them by learning about interest Paying small amounts of interest on the money your child has saved is a helpful way to encourage them to keep saving. Older children will be delighted to learn that the interest they earned last week can be used to earn more interest if they save until next week. 8. Use trips to the shop to learn about saving vs. spending Another practical way to teach a child about the bene ts of saving is by visiting shops. Allow them full control of their own money on the understanding that if they don’t have enough they won’t be able to borrow any more. e more they feel in control of their own nances, the more they will be able to make sensible decisions when it comes to spending or saving. 9. Use digital tools with older children ere are a whole range of online tools for teaching older children about online banking and using cards for payments. One of the leading products on the market is GoHenry, which is suitable for those aged six and up, costs £2.99 a month and allows parents to set strict spending limits, monitor what their kids are buying and where they are spending their money. 10. Teach older children about selling old toys for extra money If you don’t want to give your child pocket money, teaching them about ways to earn money for themselves is a helpful alternative. When they’re old enough, you could ask your child to go through their old toys, books and clothes and set aside which ones they’d like to sell. You can then sell these on their behalf through online auction sites such as eBay or Facebook Marketplace. Not only is this a great way for your child to feel independent in earning their own money, it presents an opportunity to also discuss how to use the internet safely. Salman Haqqi, personal finance expert from money.co.uk, speaks about why teaching children how to handle money from a young age is so bene cial: “Creating an environment in which you are able to speak more openly with your children about your financial decisions is vital to engaging them from a young age on the value of money. Showing them how to make choices when shopping will set up good habits and understanding of managing money. It’s important to make sure your lessons are age- appropriate and that you continue to involve and teach your children about money as they grow. A healthy relationship with finances starts at a young age, and children learn most of their habits from their parents.” Visit: www.money. co.uk/share-dealing. htm for more information. your Children about Money Continued from page 52