Hi, my DD has just started year 7 and I'm wondering how it's best to teach her about managing her pocket money. We've just opened a BarclayPlus bank account (for 11-15 year olds) that comes with a contactless debit card and an app. She has some cash that was given to her by grandparents etc. so I though depositing that to the account is a good start. Also taking her piggy-bank coins to the bank and depositing it to the account.
My DD is quite young, August-born, and so far she has not had any pocket money on her, it's always been in my purse. However, I'd like her to learn a bit about spending and managing money and so on. Any apps or websites I could direct her to read about it? Also, how much do you give your DCs per week - if anything? I thought £5 max but her dad says it's too low. I also thought about starting to reward chores around the house (she does her own room, I mean outside of that) but perhaps it's not the best idea, might be too late to start that... since she is helping me anyway in the kitchen and with folding her own laundry. Any ideas? Especially about teaching her to control her spending own spending, as the contact-less card won't help with that - you can withdraw or spend all money in one shot if desired (NB. she can't go into overdraft, so that's good).
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Secondary education
money management for secondary school age kids
15 replies
sitlux · 06/09/2019 09:08
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