Nov 06., 2017 / General
Go Henry: Teaching Young People How To Manage And Budget Their Money
Go Henry helps kids learn how to earn, save and spend responsibly. Combining web and mobile apps with a prepaid debit card and parental controls, Go Henry (Find out more about Go Henry) gives 9 years old and above hands-on experience of budgeting money within a safe environment. goHenry 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.
Parents set rules, task and limits, can allocate pocket money instantly or set tasks and chores for their children to earn extra cash. Parents and their kids can see their earnings, spending and save on graphs. Children and teens can also use budgeting tools to set savings goals, track and filter spending by a retailer, size of spend and category. It’s a great way to give young people financial independence so they can learn by doing, though under a watchful eye and with no danger of debt.
The Go Henry team seems to have put a lot of thought into the functionality and appearance of the mobile and web apps, too. Not only do the various dashboard features and charts look appealing to adults and children, the app is simple to use and easy to navigate.
Pocket money sometimes can be a hassle. Never have the right amount of cash. Everyone forgetting who is owed what, for what and when.
With goHenry everybody’s a winner. parents love it because it makes managing pocket money convenient and super easy while giving children responsibility for their money. goHenry has proved to be an amazing way of teaching our children valuable money skills. Though, if only, goHenry offered the option of setting aside money for ‘giving’ or making a charitable donation as well as all the other features and tools, it would make a great app way much better.
Children and teens, on the other hand, enjoy the independence that comes with goHenry. Having their own card and account makes them feel independent and helps them to understand how much they have to spend – as well as how much they have saved.
Perhaps the best thing about goHenry is how much it has changed their children’s attitude to money. Being able to track the growth of their savings, together with the fact the money goes straight into their account instead of their hands has encouraged kids to save.
Furthermore, 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 flaky jobs a bit more appealing when kids can see the financial reward. Find out more about Go Henry.