Although I’m sure we all like to convince ourselves that our children aren’t growing up quite as fast as they are, at 6, 7 and 9, and Lewis 16, I know all too well that time really does fly. Sometimes I look at Lewis and struggle to see the eight year old boy who saved up his spending money to buy wrestlers, the ten year old who got so excited over his very first Visa card, the thirteen year old who text me from town asking me to top up his card so he could buy a milkshake with his friends. And yet now, here we are, with our youngest three approaching that age and all of a sudden I am finding myself revisiting the past, re-registering my apps, and once again topping up the GoHenry card.

For those who aren’t familiar with GoHenry, it’s a pre-paid contactless visa card designed for children. Parents can load money onto the card as a gift, a regular allowance, or as payment for chores completed at home. You can set it up via the app in just one minute, no credit card required, and cancel at any time. Quite simply, it’s the perfect first card to give your kids their very first taste of financial freedom and, having used it with Lewis for five years, I am a huge fan.

5 reasons why your child should have a GoHenry card

1. Set chores and tasks for your child to earn money 

Via the app you can set chores and tasks for your child to complete in order to earn money. You can create these yourself, such as making their bed, doing their homework, loading the dishwasher, and when they do the task you can tick them off in the app and the money will transfer to their account. We found this to be a huge motivating factor for Lewis, far more than handing over pocket money at the end of the week.

2. Instils good savings habits 

Instilling good saving habits in our children is so important and I love that via GoHenry you can set a savings goal so your child can save up or something they really want. I absolutely love this feature and really believe that teaching our children to save up for the things they want in life is one of the most important lessons we can teach them to prevent irresponsible spending as adults and credit purchases.

3. Real time notifications of their spending 

It can be a little nerve wracking allowing your child to take control of their spending, especially at a younger age, but with the real time notifications via the app you can keep track of not only what they are spending, but where they are spending. Via the app you can see exactly where they have used their card which is a great way to make sure they are spending their money responsibly (and not having too many fast food treats!).

4. Unique parental controls 

Not only can you set spending limits via the parental controls, but you can also control how the card is used. You can allow them to use their card in a shop, at an ATM, contactless or online shopping and with simple controls you can change these as and when necessary. You can also transfer them money as and when needed, at the touch of a button and I particularly love this should an emergency situation arise and your child be left in a situation where they need money.

5. Financial independence 

Above all GoHenry teaches our children some financial independence and I think that’s so important for them as they grow. They need to learn the value of money, the importance of saving, the costs of day to day purchases and building that confidence over time. I found that Lewis became far more responsible with his GoHenry card than he had been with his spending money, preferring to see the money save up on his app than spending it on throwaway purchases. I really hope to instil that in our youngest three too.

GoHenry costs £2.99 per month and absolutely worth it in our opinion. It’s so straightforward, for both you and your child and having just ordered Eva her very first card, I am sure it will be a huge hit with her too!

To sign up for GoHenry simply follow the link below.

Get two months free here!!!

Get one month free and a customised card here!!

 

** This is a collaborative post with Go Henry.**