Key Capital and IMAGE Business Club Sponsorship articles


Key Capital is delighted to be part of the IMAGE Business Club as a sponsor. 

Here is an overview of some the articles that the Key Capital Wealth Management team have collaborated on with our IMAGE partnership team since our sponsorship began last June, including:

  1. Now’s the time to teach your children about money

  2. Gifting as an investment

  3. Invest in You


1. Now’s the time to teach your children about money

January 2023

Financial literacy should be a family affair, helping to empower future generations. We talk to Seonadh Johnson, Relationship Manager at Key Capital Private Wealth Management, about a simple way to encourage conversations about money at home and how you can use Three Pots to teach life-long lessons.

As the new year kicks off, many of us will be giving our finances a health check and committing to positive financial practices for the year ahead. It’s a great time of year to do this – setting out positive intentions that will, ultimately, reward your financial wellbeing as the year goes on. This year, as opposed to reserving this for the adults in the household, why not involve the children and young people too?

"The Three Pots is the practice of assigning money to three distinct pots, which represent three actions around money: Spend, Save and Share. The lessons it can team are: Its not all for me and it's not all for now."
Seonadh Johnson, Key Capital Private Wealth Management

Research has shown that children who grow up with a good financial education are less likely get stuck in debt cycles; are better prepared for financial shocks or upsets in their future; and have the surplus to donate to charity and support their communities.

Despite this, surveys show that young adults have amongst the lowest levels of financial literacy which is reflected in their inability to choose the right financial products or lack of interest in financial planning, according to the Organization for Economic Co-operation and Development (OECD). In the OECD Principles and Good Practices for Financial Education and Awareness, it is recommended that financial education start as early as possible.

Seonadh Johnson is Relationship Manager at Key Capital Private Wealth Management and she works with families, business leaders and entrepreneurs to help them realise their wealth management goals. She explains that starting a child’s financial education at home enables children to develop a healthy, positive relationship with money, meaning they are more likely to become a good steward of their resources in the future.

Many parents and care-givers are reluctant to talk about money with children, but “normalising talking about money enables children to explore more complex financial concepts as they get older,” she explains.

Improving a child’s level of financial literacy doesn’t have to be overly complicated, she says, sharing a simple practice called ‘The Three Pots’ that she has introduced to her own nephews to teach them life-long lessons.

What is it?

The Three Pots is the practice of assigning money to three distinct pots, which represent three actions around money: Spend, Save and Share. Seonadh encapsulates the lessons it can teach in one line: “It’s not all for me and it’s not all for now”.

How do you do it?

Each child in the household gets their own Three Pots. Using an agreed-on percentage break-down, they start to divide any money they receive into their Three Pots. Seonadh recommends a percentage break-down such as Spend 50%, Save 30% and Share 20%.

Why is it important?

As Seonadh explains the concept, it becomes obvious that simply having the Three Pots in your home will start a healthy conversation about each one.

For example, as you see a child assign money to the Save pot, it becomes easy to ask them what they might be saving for and to explore why that purchase is important to them and how long it will take them to save. It might be a toy or piece of technology that requires a long lead-in time or perhaps it’s an investment in a designer handbag – whatever they are saving for can be discussed. As well as teaching the concept of delayed gratification, the Save pot can also be used to incorporate a child’s maths lessons from school into real life.

Including a Spend pot is important to encourage a healthy relationship with spending. It might sound obvious, but many of us are conditioned to feel guilty about spending, despite it being a natural and daily need in our lives. “We all have bills that need to be paid and getting a child used to understanding needs versus wants when it comes to spending money is important,” explains Seonadh. This lesson alone really resonated with me and I left our interview thinking it could ease a lot of stress and guilt adults often have about necessary spending.

Using the Share pot allows children to explore a responsible and healthy way of ‘sharing’ resources. Who are they choosing to share it with? When do they share it? How does it make them feel to share? It also allows the concept of philanthropy and mindfully donating to be explored as a family. What causes are your children interested in? What do they care about? How are you role modelling this practice to them – financially or through time or expertise you might be sharing with your community or a cause?

How do you start?

Using glass jars, especially ones with lids, can be visually very effective as the Three Pots. For younger children (or young people for whom glass is not safe), recycled yoghurt pots can work well or any ‘jar-like’ container. Keep all three the same size – Spend, Save & Share. You can get your children involved in decorating their pots as you introduce the idea and then help them find somewhere safe and visible to put them, all clearly labelled.

For older children, apps such as Revolut offer effective ways of dividing money into Three Pots. “As long as parents are monitoring their activity, these apps can give children a level of autonomy over their spending and their money, which is important for them to experience in a supported way as they get older,” says Seonadh.

What are you waiting for?

In a world where financial literacy is a core life skill for participating in modern society, education needs to start early. Children will eventually need to take charge of their own financial future and this will involve having many conversations about money – with partners, family, banks and others. Therefore, it seems essential to start exploring conversations about money and wealth at home and teaching lessons that will stand to them in the future. What are you waiting for?


2. Gifting an investment

November 2022

How good are we in Ireland at educating our children about the importance of investing & saving?   It’s not uncommon in the U.S. for parents or grandparents to gift a baby shares to start them on their investment journey early. It is seen as a fun but educational and potentially profitable way to teach kids about the stock market.  It can also be a very tax efficient to gift cash on a more regular basis rather than waiting for big life events such as a wedding or buying a house.  

Did you know that you can gift up to €3,000 to any person, not just to your child, each year tax free?  For instance, a set of grandparents could gift €3,000 per annum to a grandchild, a total of €6,000 thus enabling them to gift €30,000 over a 5-year period. We work with our client’s other advisors to make sure they gift in the most tax efficient way.  We also facilitate our clients who want to make long-term investments on behalf of their underage children.

“If you decide to give a gift of money or an investment, the one tenet we would say is that long-term planning requires discipline and patience. It’s not a gift that gives an instant thrill but can have a very rewarding long-term benefit and serves as a good educational tool.”
Leanne Malone, Key Capital Wealth Management

Whether you gift money to buy prize bonds, to set up a regular saver or make investments on your children’s behalf, the concept of buying and holding for the long term teaches them to understand the process.

Encouraging children to manage money early, build on that each year and broaden the discussion around investing for the longer-term can never start too early. At Key Capital, we find with our clients they often start with their involvement early in the giving portion and this serves as a good educational tool around the purpose of wealth ultimately, but also an early introduction into philanthropy.

Download a pdf of the article via the green button below.


3. Invest in You event

September 2022

An integral part of our IMAGE Business Club is hosting live networking events so that women working in all industries can come together to connect, upskill and inspire. At the IMAGE Business Club event, Invest In You, three dynamic experts shared insights and useful tools to help us prepare for a stronger, more productive, more rewarding future.

We learned the unique ways that women behave in key decision-making moments, and how we can steer ourselves into an enjoyable, productive, high-performance zone. Our panel included personal trainer, nutritional coach and broadcaster, Nathalie Lennon, director of wealth management at Key Capital, Seonadh Johnson, and health and lifestyle coach with Zestivo, Elizabeth Whelan.

Budgeting and finance

“Sleep and financial management are intrinsically linked.” – Seonadh Johnson

When it comes to women and investing, Seonadh says, we tend to think more laterally. We think of stakeholders and our broader network that our financial decisions will influence. Making sure we have those long-term provisions in place will help keep our minds from spiralling into worrisome thoughts and lead to a deeper night’s sleep.

“Women make 80% of household decisions, but we have 1/3 of the money in our pockets.” – Seonadh Johnson

When it comes to financial basics, Seonadh recommends having the following funds in place: a budget for paying off debt, your day-to-day spending, savings, retirement and an emergency pot, with enough to live off of for three months. This is a great way to be prepared if you have to change jobs, take time off work, etc. As women, we are more risk-adverse but having these funds in place turns this into risk-awareness.

“Don’t compare your beginning to someone else’s middle.” – Seonadh Johnson

Financial advice is not one size fits all. If a friend gives you advice, take it with a pinch of salt and consult a professional before making any big decisions. When you do consult someone, ask the right questions and don’t be afraid to ask all the questions. For example, ‘Are you showing me all my options?’. Also, it’s important to diversify and make sure you have multiple sources of income.

Seonadh Johnson from Key Capital with moderator Melanie Morris from IMAGE and co-panelists Nathalie Lennon and Elizabeth Whelan (image credit: Emilia Krysztofiak, Rua Photography)

Seonadh Johnson from Key Capital with moderator Melanie Morris from IMAGE and co-panelists Nathalie Lennon and Elizabeth Whelan (image credit: Emilia Krysztofiak, Rua Photography)

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