ĠEMMA and the generations

Credits

All Members

Ġemma Team

All Contributors

Freelancers

Content Coordinator

Daniela Xuereb

Proof-Reading

Helena Holland

Graphics Production

Peter Miceli Saydon

Distribution

Archibald Attard

Media Editor MSPC

Tonio Bonello

ĠEMMA Newsletter is another publication produced and distributed by the Ministry for Social Policy and Children’s Rights. Along with this newsletter, the Ministry produces several other publications under the brand name FAMILJA.

FAMILJA AĦJAR is an annual publication aimed at informing the general public about the measures announced in the last budget. Once a year SUPPLIMENT SPEĊJALI FAMILJA is produced conveying content related to a specific entity and its services within MSPC. On a quarterly basis RIVISTA FAMILJA seeks to inform the readers with the holistic works of the Ministry combined with socio-cultural themes of general interest.

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Financial capability is made up of several factors. The key elements are:

Ability – focused on financial knowledge and skills

Connection – our engagement with money and access to financial services and products

Mindset – Our values and attitudes towards money

These three factors interact to influence a child's financial behaviour. Research suggests mindset and connection are more potent drivers of a child's financial behaviour than ability. We develop financial capability throughout our childhood and adolescence. However, we need more support to become financially capable adults. Research has shown that financial capability is linked to what is seen, learned and experienced in childhood. Still, unfortunately, the skill of managing your money and understanding the value and worth of money needs to be taught at schools. More so parental actions and characteristics have a more significant impact on a child's financial capability than explicitly receiving financial education in school.

Children who are more financially capable tend to have parents who role modelled financially capable behaviours at home, through explicit teaching (e.g. discussing where household income comes from, showing children how to check bank balances, discussing budgeting and goal setting), through demonstrating behaviours and through fostering their child's connection with money through giving money to their child regularly and giving them the responsibility for spending and saving decisions.