Mrs Wegelin, what do children need to know about money?

Ms Wegelin, you write an award-winning blog as Madame Moneypenny and have already published your second book on the subject of financial independence and financial education for women. Can't women learn about money from the same books and seminars as men?

They can - but they don't. Yet it is particularly important for women to take care of their finances, as they earn less and have more pension gaps than men. When it comes to divorce, women often also have a financial problem. At the end of the day, my path leads to the same financial goals and presents the same savings options as other guides, but the way to get there is different. I try to take away women's fear of this topic - because many women still think that it's up to their husband to take care of the money. Beliefs such as «it's not for me» or «I don't know anything about it anyway» are often very deeply ingrained in women.

Is this due to upbringing? Do girls learn different things about money than boys?

I think it's still the case: whether consciously or subconsciously, many parents encourage boys to get on the climbing frame and try things out, while we would rather keep girls in the sandpit and keep them small. To put it bluntly: girls are given the pink kitchen, boys handle play money for the first time in the shop.

And that has an influence on how they handle money?

Yes, and the influence of the example set by parents is even greater. If dad always pays and is responsible for the household finances, this traditional image is also instilled in the children. It was the same in my family, by the way ...

So how is it that you of all people are writing money guides today?

I've always been kind of anti-girl. It started with the fact that I preferred playing football with the boys to playing dolls with the girls. And perhaps it was precisely this attitude that led me to start my own business early on and take my finances into my own hands. Higher, faster, further - that has always been an issue for me. It's different for most girls.

«Many children hardly ever come into contact with cash. This prevents them from developing a sense that money is finite.»

Natascha Wegelin

And regardless of gender: what is important for children to learn how to handle money well?

That they get pocket money - in cash. Many children hardly ever come into contact with cash. They see that their parents pay for everything with a card or PayPal and are therefore unable to develop a feeling for the fact that money is finite and that you have to save up for larger investments. Once children have reached their savings goal, I suggest that they physically take the piggy bank to the bank or pay for what they want in cash - this is the only way to really create a connection in their minds.

How do you motivate children to save?

By not saving for the sake of saving, but because you have a goal in mind - a special toy, for example. A pretty money box also helps, of course. And it's a great motivational boost when parents promise «if you manage to save X amount, we'll pay you Y amount on top as a reward».

What do you think of a youth wage? In other words, a higher pocket money, from which school materials and clothing, for example, would also have to be paid?

I think that's a good idea in principle. It teaches children right from the start that not all money can be spent on nice things. They don't only learn this when they have to pay rent. However, you do of course have to keep a close eye on the amount so that the children can manage well.

Otherwise the children will get into debt ...

And this is perhaps the most important message that parents should convey to their children: Consumer debt is an absolute no-go! It can be prevented by teaching children to save for something.

In your first book «Bali statt Bochum», you say that children should be taught how to realise their own ideas rather than how to write a good application for a permanent job. Do all children now have to become independent entrepreneurs?

Of course not. My point is that the new generation needs to rethink. Parents should realise that there is no such thing as a secure job today and certainly not in 30 years' time. Children need to be flexible. What we have over machines is creativity. And if we learn to solve problems creatively, we will still be needed in the future. You don't know beforehand whether your employer will move with the times like you do. That's why I think it's less risky to work independently than as an employee.
Picture: Fotolia

Read more:

• How much pocket money do children get in Switzerland? The pocket money study has researched it.