Thursday, 20 August 2015

Go Henry

Both the girls started earning pocket money last year for doing their chores I set of them like emptying the dishwasher or pairing the socks (the jobs I dislike lol) but I found they were spending the money just for the sake of it on sweets mostly!
 
On the school run one morning I heard an advert of the radio for Go Henry which sounded like just what the girls needed. Its basically a debit card for children aged 8-18 years which can be used in shops and online and withdrawing money via ATM. As the parent you can edit settings about where it can be used and put limits on the accounts.
 

Photos taken from the Go Henry website

So I applied online for them which was an easy process, no credit and identity checks needed as the cards can only be used if there is money in the account.

The cards arrived about a week later and a pin number for the cards arrived separately like a normal debit card. They looked just like a normal debit card with the VISA logo and can be used anywhere a VISA logo is accepted which is good.

What I love about it is that when the girls spend anything it pops up as a notification on my phone as I have downloaded the app so it alerts me where they spent the money and how much they spent!

You get 3 months free to trial the service then there is a small fee for using the service which I think works out a few pounds a month which I think it definitely worth it. Each month a direct debit comes out of my bank account I to my parents Go Henry account and each week a set amount is transferred into the girls account at an amount I set.

The girls get £4 a week and because it's not physically given to them they tend to save it which is what I wanted to happen. Though Ellie has found out Amazon so spends hers fairly quickly!! Keira saves hers for a big clothes haul at Primark every few months.

I love the independence it gives them and plus I can still keep an eye of the spending so it's a win win situation.

For more information you can visit the Go Henry website. or visit their Twitter or Facebook

If you join via this link both of us will get £5 free pocket money in the account as well as the free trial so another win win situation :) 

Thanks for reading!
 

16 comments:

  1. It's important to teach our children about good money management and I think schemes like this are brilliant for that purpose.

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  2. I haven't heard of this card but was reading about a similar one yesterday called Osper and that has a £10 charge per year, Will have a look into the difference between the two as I am thinking about getting one for my 8 year old.

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  3. We got this card for our daughter ages ago, I think it is a great idea and she tends to forget about what is in her account so doesn't spend it, although feel that is going to change soon x

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  4. What a great way to learn how to be responsible with their money!

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  5. I think being good with money is one of the most important skills to teach our children

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  6. This sounds like such a great idea to learn about controlling your finances x

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  7. I think money management is so important. I like to start with actually cash with the boys, but when they are older will move to this as it is so important that they realise cards do not give them the freedom to spend what they do not have,

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  8. What a fantastic sounding idea, I remember at school we were signed up to a certain account which only allowed us to do certain things, it was a great way to try and learn how to look after money. x

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  9. This sounds like a great idea and I love the fact you can see what they are spending! x

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  10. this is a good idea I think up to the age of 16 and possibly 18 as it gives them good money earning skills

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  11. What a great idea, I think i might look into this for my youngest xx

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  12. We encourage our son to save up for the things he wants and to manage his pocket money. Money management is such an important skill.

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  13. I will try to sign Emma up fpr it, she is only 5 but by the time she gets to be 8 she would have saved a good amount that she would be able to use in big school for her lunches...etc.xx

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  14. I must get round to some sort of formal pocket money for my middle one - my eldest used to get some, but is 19 now so doesnt anymore!

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  15. What a fantastic idea! It's so important for kids to understand about saving xx

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  16. What an interesting idea, may have to give it a thought when the twins are bigger

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