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We’ve all heard the saying, and some of us have even said it ourselves, “money doesn’t grow on trees!” Cue response, “yes it does, money is made from paper and paper is made from trees”...

The fact is, there is no such thing as a money tree, much to most people’s disappointment, which is why it’s so important to teach the value of money. By educating children from a young age about what money is, how it can be used and what it means to earn and save, children will understand how the value of money will impact them and their future financial decision.

From fun ideas on how to earn pocket money, goal setting to buy something special and using apps to reach financial goals, here are some top tips on how to get kids excited about money:

Earn It

Earning pocket money CAN be fun! It doesn’t have to be boring chores like cleaning, tidying up or washing a neighbour’s car. Why not think of ways that will help your kids learn a new skill?

  • Help prep/cook dinner once a week and learn how to safely make a delicious meal for the family.
  • When the food shop has been done, help put everything away in the correct places and understand what foods need to be stored where.
  • If the house or a room is getting a makeover, lend a hand with giving the walls a lick of paint, or get creative with mood boards to help with the design ideas.
  • Take the dog for a walk or help water the plants in the garden and reap the benefits of fresh air and exercise.

These are all fun, useful and effective ways that can help earn some serious pocket money without having to dread cleaning your bedroom.

Save It

A brilliant way of learning the value of money is to use your own money that you’ve personally saved to buy something you really want; it’s then when you’ll appreciate how hard you have worked to save in order to have something really special. By setting yourself personal goals or having the determination to buy something that you don’t expect as a gift, you’ll think twice about spending money on unnecessary things or not bothering to try and save pocket money or allowances. By saving money from a young age, even a couple of pounds a week in a piggy bank, you’ll see your savings soon add up and it’ll put you in good stead for being smart with your personal finances as you get older.

Swipe It

There are lots of great money-saving apps available to help make saving money more fun, more accessible and more educational. Using an app rather than a physical money pot is also more ‘real’ as we now live in a ‘cashless society’. Here are our favourite pocket money apps available for children in the UK:

  • Osper

This app and pre-paid debit card allow children 8+ to only spend what’s available on the card (as it’s pre-paid). The parents can get their own app too to keep an eye on their children’s spending and set an allowance. Young users can also set specific financial goals (for example if they want to save for something specific), and set up regular monthly savings to help meet their target.

  • Gohenry

This is a pre-paid card and app for young people aged 6 – 18. Gohenry’s objectives are to give children the confidence, independence and preparation for entering the digital economy and the rise of a cashless society. Gohenry costs £2.99 a month per child, and it’s easy to set up automatic weekly pocket money transactions, spending limits and more.

  • Nimbl

This card and app comes with features such as instant top up, micro-savings, digital pocket money, and gifting. For young people aged between 6 and 18, nimbl costs £2.49 per child per month. It comes with a prepaid debit card allowing children to develop good money habits as they enter the adult world. 

  • Rooster Money

Managing pocket money with this digital Tracker makes money seem simple for children and families. The free tracker is ideal for families to get to grips with simple pocket money routines, or the Rooster Plus plan (at £14.99 a year), or Rooster Card (at £24.99 a year), provide additional benefits including giving children more responsibility to manage their finances. 


Getting children excited about money and teaching them the value of it from a young age is a good way for them to begin putting their smart decisions about money into practice early. This could make a huge impact on personal finance decisions as they grow up, and even impact big life choices such as making investments.  

For more info on financial lessons that should be taught in schools, click here