Spending or saving - With Christmas over, many children will have money they were given burning a hole in their pockets. Should we let them spend it on whatever they like or should we impose parental controls? What are the best ways to teach children about the value of money?
The first episode of the OU/BBC co-production Bringing Up Britain takes a look at money matters by investigating how the subjects of money and finance are being taught at home and in school. Mariella and her guests explore which are the most useful lessons for youngsters and how perceptions of money change as children grow. They also discuss how we can talk to youngsters about changing financial circumstances - if a parent loses their job and money becomes tight for instance.
On the panel are Anna Foster, Head of Services at P-FEG, the Personal Finance Education Group which works in schools, Dr Elizabeth Kilbey, a Consultant Clinical Psychologist who has been working with the Money Advice Service, Dr Rajiv Prabhaka, lecturer in personal finance at The Open University and author of "The Assets Agenda" and Dr. Esther Dermott from Bristol University who is one of the key researchers on the survey "Poverty and Social Exclusion in the UK".