Children’s spending cards

7
Posted 4th Jan
I’m looking at giving my children their own pre-loaded spending cards, possibly GoHenry, Nimbl or something similar. Children are 8 and 9. £30+ per year for the privilege seems a little expensive when the card provider is making interest on the balance.

I can see offers of one month free but nothing longer.

Any thoughts welcome please.
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Are you wanted to let them free on the Internet with those? If not then I think cash is better to learn how to save and budget at that age. Been giving my 11 year old pocket money for a couple of years now and she has learned to save for things she wants to buy and work out in shops how much things would come to and if she can afford it or not!
Monzo card? You can monitor how much they have, how much they spend and what on
Edited by: "ndyanem" 4th Jan
Go Henry works very well - my daughter has had one for the last 3-4 years. She is now 15 and has no problems managing spending in shops, with her pin and online. She’s very sensible with it. She also makes use of the charitable giving function and the savings pots to save up for specific things.

I like that:
- we can block the card if she temporarily misplaces it,
- I can put a spending or cash withdrawal limit on it (but over time I increased this more and more as she demonstrated she was sensible,
- you can get notifications whenever the card is used (so I know if she’s got a train ticket and is on her way home etc...)
- I can set different pocket money tasks and tick each week if she’s done certain chores or not.
- I can transfer adhoc amounts if needed on occasion


All in all it works very well for us
My intent was to help them learn the value of money, saving for things they need or want rather than relying on others.

Go Henry does sound good, worth the annual fee I’m not sure yet but tempted to try it. Monzo or Starling in my name I guess would work too without the fees.
I understand the premise, buy disagree with it.
Cash yes, that’s how I was taught to understand and budget / save for things I wanted.
Due to contactless digitally seems the only way to go. As some place’s don’t take cash now.
I have a starling account and the instant notifications are great.
I disagree but its the way its done today,
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