I know what it’s like to be a modern mom. For those who are currently expecting, here’s a clue: Hollywood makes it look much, much easier than it is. That said, it’s an incredible privilege.
There are certain pressures, though, as I’m sure we can all agree.
As a parent today, we’re expected to teach our children how to do it all—how to ride a bike, how to master computer programming, how to cook, how to change a tire. The list goes on.
Then there’s the whole subject of money; how do we empower young people to handle their finances responsibly, and learn how to earn, save and spend? This can be a difficult subject to handle well at home and it’s one that’s firmly on the government’s radar too, with the biggest ever programme of financial education set to hit our schools imminently.
At goHenry, we believe passionately that there is a place for financial education and learning money skills in schools. We also know that all the important skills of life (and financial skills rank up there) are learned through doing.
Creating an environment outside the classroom where children can learn under the watchful eye of their parents not only empowers them, but also gives them ‘real world’ experience; and that’s what will make all the difference as they grow in independence and eventually leave home.
We founded goHenry as parents, for parents, as we wanted our children to be equipped with a firmer grounding in finance than we were given ourselves. What we’ve found is that the earlier you begin educating young people about money and finance, the better – they just need the right kind of tools and framework to learn in. We provide such a solution, where young people can learn about money under the watchful eye of the parent, while at the same time being empowered to be independent and make the right kind of saving and spending decisions.
Because every mom could use a bit more simplicity in her life, the solution we created gives exactly that. Basically, goHenry
The goHenry account is really easy for children to use and allows them to see their earning and saving and how it relates to their spending in a digestible, transparent way. This means young people are motivated and empowered to set short and long-term savings goals to save up for the things they love; all within a secure environment where they can only spend what they’ve earned and saved. This reinforces the right kind of money habits and great financial skills that will last a lifetime.
Finally, we have the child’s favorite part of the financial education process—spending. While we love teaching children about the importance of earning and saving, we’re also just as happy to see the sense of achievement and happiness as they look forward to making a purchase they’ve been saving for—after all, we’ve taught them how to earn it, so they should learn how to spend it responsibly too.
The government’s debate around financial education will only continue as we move into this new school year, but the best advice we can give right now—there’s no need to wait for government action when we can take the lead in our own homes by creating an environment empowering children to earn, save and spend responsibly. So go on, goHenry.
