Thirteen per cent of families even had to delay paying a bill or cut back spending on necessities to compensate for children’s purchases.

ABC News

I am incredibly grateful that my Mum ensured I had financial literacy at a young age. We were poor but that didn’t stop me from learning the value of money. I’ve always been hyper-aware of money management, to the point of risk aversion.

I was also fortunate enough that I didn’t grow up in an era of intangible in-app purchases.