Digital pocket money for children
Monday, April 30, 2018
Teaching your child about finance with digital pocket money
Following the arrival of the newest member of the royal family, its a timely reminder of how events such as having children are a great time to start thinking about the future, particularly when it comes to finances.
Children learn about money from their parents
When you have children, it’s not only important to plan your own money and save for their future, but it’s also important to teach your children about money and instill some financial education.
It’s never too early to teach your little ones the importance of managing their money and saving. After all, parents have the biggest influence when it comes to shaping their children’s attitudes to money.
Pocket money apps and websites for children
As the world of technology continues to evolve at an ever-increasing rate, so too do the tools available to teach children about the value of money and the importance of saving.
There are now a whole range of clever, colourful, and engaging digital apps and websites that can help children as young as four learn about coins, saving and spending.
Just like in the real world, these apps and games can help them to learn how money works – if they spend all their digital money in one go, its game over!
Websites like Topmarks have free money games which can help children from 3 to 14 years old learn about money. Other apps come complete with a contactless card, allowing children to take charge of their own money from the age of 6. Accounts like GoHenry allow parents to retain a level of control over what their children do with their money, whilst also educating their kids about the value of money.
Got you thinking about saving?
Our savings plans can help you save for yourself or save for your child’s future from as little as £25 a month.
This blog is intended to provide information, not financial advice, to help you make an informed decision about savings and investments. We do not offer financial advice. You should contact a financial adviser, who may charge a fee, if you want financial advice.
You should also be aware that in some investment conditions and depending on the savings product you have chosen, you may get back less than you have paid in.
From pocket money to games, here are 5 simple ways to help your child start to develop good money habits.
Help your child learn about the value of money with four easy steps: earning, saving, spending and starting good family financial habits.
These real life stories show why financial education is so important to young people.