AMP has released a guide for kids and parents called Good Money Habits for Life, an educational e-book to help teach children about money and finance.
It was designed to assist parents and grandparents to pass on positive financial lessons and behaviours, by showing key beliefs and attitudes make a difference when managing money.
There were different tips and strategies for talking to different age groups with the focus on making learning fun, with sections including contemporary money issues such as dealing with debt and money in a cashless society.
The idea came from AMP employee and mother of two, Resselle Hrelja, who was motivated by the goal of having her children reach their potential.
"As a parent, I cannot make my children’s dreams come true, they will need to do that on their own,” Hrelja said.
“But I want to arm them with skills, knowledge, wisdom and enough heart to get them through their life journey.”
Alex Wade, AMP Australia chief executive, said the company regarded boosting financial literacy as a key strategy in helping Australians reach their financial goals.
“If we can educate kids and get them practising these good behaviours early it will make a profoundly positive difference to their lives,” Wade said.
“Including driving stronger engagement with their wealth goals and retirement planning. The earlier this happens the better the long-term outcomes.”