Switzerland Financial Literacy
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Managing child's assets correctly – tips for parents
Pocket money, a gift at Christmas, or a five-franc coin for washing the car – children have money too. But what do parents need to bear in mind with regard to child's assets? What can the money be used for and from what age do children have full control over their assets?
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Saving for children
Parents always want the best for their children. This also involves providing for their financial future: for bigger needs, their studies, driving lessons, and to get them off to a good start in life. Find out what is important when saving for children and what options there are for parents, grandparents, and godparents.
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Talking to children about debt
The boy next door who borrows money for admission to the swimming pool because he's forgotten his wallet, or a friend who needs money for the cinema: Debt quickly becomes a topic of conversation at the family dinner table. In his column, Daniel Betschart of the organization Pro Juventute explains what to focus on and how to raise children's awareness about debt.
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Trends relating to payments and the bank
Paying by fingerprint or money from the cloud – in the study "Geld-Gehirn" (money brain), the Zukunftsinstitut (Future Institute) puts forward five scenarios relating to the payments of tomorrow. In an interview, Anke Bridge Haux, Head of Digitalization & Products at Credit Suisse, gives her assessment and expresses her belief in the rise of big data and artificial intelligence.
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Is Cash King?
Back in the day, you could virtually only pay with cash and shop during store opening hours. Cards, cell phones, and online banking now enable 24/7 spending. Should cash even be part of financial education? Daniel Betschart of Pro Juventute answers this question in his column.
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Will Cash Become Extinct?
Cash or card? The preference for a means of payment varies from country to country. In Scandinavia, for instance, payments are made almost exclusively by card – whether at the kiosk or the supermarket. But what is the situation in Switzerland?
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When Children Buy Online
The danger of unwanted purchases on the internet is everywhere. Whether in online shops or app stores – thanks to saved logins and the stored credit card, one click is often all it takes to complete a purchase. Parents often only notice the consequences when the credit card bill arrives. Here are some tips for childproof online shopping.
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The First Maestro Card of Their Own
A Maestro card has many advantages, such as being able to withdraw cash or conveniently pay at the checkout. But when is actually the right time to teach children how to handle this means of payment? And what should be taken into account? Dr. Christoph Mattes, lecturer for social work at the University of Applied Sciences Northwestern Switzerland, explains in an interview how parents can prepare their children for their first Maestro card.
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Why Can't Our Family Afford That?
Ski vacations, summer camps or a new smartphone are not exactly cheap, and so are not a matter of course for all families. How can parents explain to their children why they cannot afford certain things, or would rather not? Daniel Betschart of Pro Juventute provides an answer.
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This Is How Parents Influence Their Children's Financial Decisions
Friends, the media, and school all influence children's financial behavior. But the strongest influence on their financial decisions is still their parents. The economics education specialist Prof. Carmela Aprea says the same. In this interview, she explains how parents influence their children's financial behavior, and what needs to be taken into account in this regard.
