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Is it better to learn about money the hard way?

The other day, having had enough of my own company, I was working on my laptop in a coffee shop, when a father and daughter sat down in the booth opposite me. I could clearly hear their conversation and – as you need both hands to eat a cupcake – I was idly listening to their conversation instead of writing.

The gist of the conversation was that the father and daughter had come daughter directly from the bank, having just opened up an ISA in her name. From what I could tell the father had made the maximum annual deposit (£5,340) into the ISA for the daughter with his money and was giving her a serious talking to about the things that the money could and could not be used for; i.e., shopping bad, university good.

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