Released by goHenry Ltd, Go Henry is a brand new tool that helps to manage pocket money super-easy and this app is aimed at parents who want a better way to keep track of and organize pocket money payments for their kids. 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. Here’s a more in depth Go Henry Review.
Moreover, it’s one of the best prepaid cards for teens, featuring parental controls, a contactless card and the ability to block and control the card at the click of a button. Teaching kids to manage their money is a highly important task for parents. Developing the ability to save and plan purchases are life-skills that will serve children well as they grow in age and independence. The difficulty is getting them interested in what can be a mundane subject at the best of times.
They will soon grow in confidence; quickly becoming responsible savers and spenders – and they will love the independence and money skills Go Henry brings.
How does it work?
First of all, you must know that each child gets their own goHenry Pre-paid Debit Card with parental controls.
Parents should set the rules and their children will get to learn and manage the money. A unique earning, saving and spending solution for parents with children from 8 upwards. You can set up an online account and a linked account for each of children.
Everything is recorded and controlled via dedicated apps for the parents and children, so both know what was earned and spent, also when the next pocket money payments are due. It’s a smart and easily understandable way to introduce the idea of budgeting and income, plus it makes odd jobs a bit more interesting when children can see the financial reward.
There are is also a budgeting section in the child’s app that enables 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.
One of Go Henry review from a parent, Jess, 46 years old with 4 children, “I find this a fabulous tool for creating a fair system for children and parents alike for giving out pocket money, keeping an eye on it and helping them to understand money”