Teaching young people to manage their money is a very important task for parents. (Find out more) Developing the ability to save and plan purchases are life-skills that will serve children well as they grow in age and independence. Go Henry is an amazing new app that helps parents to manage their children’s pocket money using a prepaid debit card and smartphone. It’s one of the best-prepaid cards for teens.
Go Henry was created by a group of parents and friends, unable to find the right tools to teach their own children to learn about managing money. Not only does it make the whole pocket money process faster and easier, it’s also designed to teach children to save, earn and spend responsibly.
That’s where GoHenry kicks in. This service gives young people their own pre-paid card, a phone app to view and set goals for their finances that makes managing money suddenly a lot more fun.
Parents must set some ground rules and tasks, and they can sit back and relax, knowing their children will learn about money the best way they can by managing it themselves. Not only does it make the whole pocket money process faster and easier, it’s also designed to teach children to save, earn and spend responsibly.
GoHenry issues pre-paid debit cards for each child’s account. These act just like normal debit cards and can be used everywhere, anywhere that accepts VISA, which includes online and at cashpoints. The children don’t have access to their parents’ bank accounts, so they can’t run up any uncontrollable bills and only spend the money they have in their own savings. This can also be limited by spending caps designating the maximum amount of a single transaction, thus, parents have the ability to block certain shops if they feel that their kids really shouldn’t be blowing all his pocket money.
Everything is controlled and recorded via dedicated apps for the parents and children, so both know what was earned and spent, plus when the next pocket money payments are due. It’s a smart and easily understandable way to introduce the idea of managing money and income. There are is also a budgeting section in the child’s app allowing them to set targets for things they want to buy. They can allocate money to each target bit-by-bit while still having funds to spend on some other things. What are you waiting for? Grab your phone and search on Google on how to start availing Go Henry. Find out more and see the difference.