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The Independent
28-03-2025
- Business
- The Independent
How to keep kids entertained and teach them some money lessons over Easter
Keeping kids entertained over Easter can be a challenge to the family finances, but while you're balancing your own budget it could also be a great time to get youngsters into some good money habits. They may even pick up useful money skills without even realising they're learning. Here are some ideas for saving money this Easter – and teaching children some valuable money lessons while you do it: 1. Teach goal-setting. Louise Hill, CEO and co-founder of young people's debit card and app GoHenry, says youngsters received an average of £17.92 last Easter through its Giftlinks option, which allows family and friends to send money to children's accounts. She says: 'Now's the perfect time to teach goal-setting. Whether they're saving for something special or a day out, help them track their progress and make smart spending choices by turning half-term into a budgeting challenge. Hill suggests: 'Encourage them to split their money into two pots; spend and save. 'This teaches kids the importance of balancing their finances from an early age, giving them a head start in building a secure financial future as adults.' 2. Offer a small 'interest' incentive. Hill suggests: 'If they save £5 by the end of the two-week holiday, you could add an extra £1 'interest' to show kids how money can grow over time – and encourage patience along the way!' 3. Try a half-term side hustle. Some budding entrepreneurs may want to start a 'mini-business' – perhaps earning some extra cash over Easter by selling items or doing tasks to help out the family, such as washing the car. Hill says: 'Spring in full swing, a small gardening business helping neighbours could be a great way to learn about pricing, costs, and profit – while getting some fresh air.' For those looking to maximise their earnings, GoHenry's Pocket Money Unwrapped report found babysitting was the highest-paid task last year, with kids earning £5.32 on average. Hill adds: 'For younger kids, earning their own pocket money is an empowering tool that gives more satisfaction rather than instant gratification.' 4. Set the family a 'best deal' challenge. Hill suggests asking kids to find the best-priced item while doing the weekly shop. She says: 'You get the shopping done without complaints of: 'I'm bored,' and the kids get to learn important lessons about shopping around for the best deals. It's a win-win.' The challenge could also be extended beyond the supermarket, to days out. 5. Have a family brainstorm. Personal finance expert Lynn Beattie, aka Mrs Mummypenny, suggests: 'Why not ask everyone to suggest three ideas on a budget, and see which options are the most popular that several people choose?' She suggests booking travel well in advance, making the most of railcards and checking out deals on websites such as and Breaking your journey up into multiple tickets could help to cut costs. 6. Be a 'tourist' in your town. You don't always need to travel miles to discover something new. Perhaps there's a great attraction on your own doorstep that you've never explored. Beattie, who is giving tips on behalf of Boundless, a discounts membership club for people working for or who have previously worked for publicly-funded organisations, suggests: 'How about walking around a nature reserve, or heading to a lake or river with a park where you can have a picnic and play ball games? 'Don't forget to look up local museums and art galleries that are often free to enter – and may be running free activities over the holidays too.' 7. Enjoy Easter crafting. Beattie says: 'We love to make a rustic Easter tree, where you pick some twigs from your garden or a country walk and hang them with painted eggs on ribbons.' 8. Cook a less expensive 'Easter roast' at home. Beattie suggests trying cheaper cuts of meat, which could be just as tasty. She adds: 'Instead of dining out, plan and prepare meals at home. If you're having family or friends over for dinner, why not ask them to each bring a dish to share, or even contribute to the cost of dinner?' 9. Try alternatives to Easter chocolate. Beattie says: 'If you do want to give gifts, why not consider homemade options such as fudge, cookies or chutney, rather than commercial Easter chocolate?' 10. Research free activities. Beattie suggests checking out your local shopping centre, library, church and shops. It's also worth scouring community boards, websites and social media for local free events, she adds. 11. Organise a Easter Egg hunt with neighbours. 'I have three teenage boys and we still do an Easter Egg hunt every Easter Sunday – they love it,' says Beattie. She suggests: 'Buy a multipack of small eggs and hide them high and low in the garden. Or for even more fun, get the neighbours involved and organise a mass egg hunt with the children in a safe place.' 12. Finally, don't leave it too late to set an Easter budget. Beattie says: 'Keep track of your daily expenses and adjust as needed. You could set a daily amount of £20, for example, and set the cash aside in an envelope. Once it's gone, it's gone, or if you don't spend it all, it rolls over. 'A budget will help you to avoid overspending and help you prioritise so you can focus on what is most important to you and your family.' Reusing and recycling what you already have, or visiting a charity shop could help, she says. Beattie adds: 'You might also consider swapping Easter decorations or clothes with friends or family – it's budget-friendly and environmentally friendly.'
The Independent
07-03-2025
- Business
- The Independent
Teach your children to spend responsibly and save with GoHenry
Teaching children the value of money is an invaluable skill that will help set them up for life. Saving up pocket money, completing chores and budgeting for hard-earned purchases is all part of the learning experience – and GoHenry is helping parents through their children's financial journey. With GoHenry, kids can learn to earn, save, spend and invest using their own prepaid debit card and app, helping to build their financial literacy with full transparency from as little as £3.99 a month. For parents looking to develop their children's financial confidence, GoHenry is offering customers two-months free along with £10 of pocket money to help kids learn the value of saving. To sign up for an account, visit GoHenry's website – or keep reading below to find out more about what's included. How does GoHenry work? GoHenry goes beyond being just another debit card or banking app, in that members aged 6-18 can learn valuable financial skills, track their day-to-day spending and create savings goals towards bigger purchases. The GoHenry app also provides logins for parents, giving them oversight into their child's money through real-time transaction notifications, customisable spend limits and even instant transfers for those need-it-now moments. The kid's version of the GoHenry app includes a wide range of fun lessons designed to teach practical financial advice in an engaging way. Known as 'Money Missions,' kids will learn new skills through quizzes, videos and more in the app, earning XP and levelling up as they go – just like a video game. Parents can even set their own in-app rewards as well through completing tasks. Chores are a great way of teaching youngsters responsibility from a young age and that money doesn't just grow on trees! Chores lists have been designed to be simple: Assign tasks through the app and once they have been completed, kids can have money deposited directly into their accounts. It not only provides structure but also rewards kids for their hard work and time in a meaningful way. GoHenry also helps to ensure that your child's spending is safe and secure. Merchant blocks allow parents to block transactions on age-specific items meaning they are protected from inappropriate purchases. Should a card be lost or stolen, they can be instantly blocked in-app to prevent any unwanted purchases being made. If the card is found however, it can easily be unblocked in the app as well. There's plenty of features to benefit kids of all ages, even teenagers who are already looking to gain even more independence and confidence in their spending. GoHenry offers accounts specifically for those aged 13 and up, which gives them even more options, such as Apple Pay integration, fee-free transactions abroad and more. Teens who are already in their first part-time job can even share their details directly with their employer and get paid straight into their GoHenry account with BACS.
Yahoo
07-02-2025
- Business
- Yahoo
This mom's system is going viral for teaching kids financial literacy in a genius way
Growing up, many of us didn't get a solid education about personal finance. For some, this led to struggles with saving, budgeting, and managing money as adults. But one mom on TikTok is determined to change that narrative for her kids by teaching them the value of money from an early age. In her viral video, TikTok user @ shares the creative system she's developed to teach her four and six-year-old children about finances. Instead of traditional piggy banks, Makenzie uses simple envelopes labeled 'checking,' 'savings,' and 'bills' to simulate a banking system. Makenzie explains that her kids each have two 'bills' they must pay every month: $1 for food and $1 for housing. While the money stays in their envelopes, the exercise helps them understand the concept of financial responsibility. To track their earnings and spending, Makenzie provides each child with a chore chart and a 'bank statement' when they receive their allowance. The system is straightforward: every week, they start with $5, but for every chore they fail to complete, they lose 25 cents. 'The thought is, if you go to work, you get paid. If you don't go to work, you don't get paid,' she says in the video. 'Therefore, if you don't do your chores, you're not getting paid.' Makenzie emphasizes that the goal isn't perfection. 'She's seven. My son is four. Like, they're just kids, and I want them to have a healthy relationship with money because I know I don't have a healthy relationship with money because I was never taught how to manage it.' Related: Raising financially savvy kids: 15 money rules every parent should teach their kids The video has struck a chord with many parents, with viewers praising Makenzie's efforts to build financial literacy in her young kids. TikTok user @EileenMahoneyGoodw wrote, 'My mother taught me how to balance and keep a check register young, and I still do it 40 years later. This isn't taught in schools anymore and should be. Fantastic job!!' User @Bobbie added, 'People would 100% purchase this method from you! ' Another parent, @ArtsyPOTSie, commented, 'This is a fantastic set-up! Great financial literacy foundation. ' Meanwhile, @AleMunoz_Motherhood shared her excitement, saying, 'This is awesome!! Thank you for sharing. I am going to start implementing this! I have been trying to figure out how to implement chores so they actually do them.' Research backs up Makenzie's approach. A 2018 University of Michigan study found that children as young as five already exhibit distinct emotional reactions to saving and spending, which directly influence their financial behaviors later in life. Teaching kids money management early can help set them up for long-term success. Additionally, resources like GoHenry emphasize the importance of financial literacy for kids, noting that it builds confidence, decision-making skills, and an understanding of earning, saving, and spending. Related: 7 essential money lessons to teach your kids By introducing her kids to concepts like budgeting, tracking, and responsibility through an age-appropriate lens, Makenzie is laying a foundation for financial health that will serve them throughout their lives. Her system is a reminder to parents everywhere that it's never too early to start teaching money management—and it can even be fun.
