GoHenry - kids debit card

By giving kids these it’s not really teaching them the value of money or even how to handle it I know sadly one days it’s going to only be card payments but I prefer cash you know what you got and able to spend

I got my granddaughter one 3 weeks ago so that I can put her pocket money into it. We took her out last week and in the shop she wanted to buy three things but when she realised it would only leave 5 p in her 'bank account' she put something back as she wants to keep saving. I think there is room for it but I agree that children do need to have a concept of the value of money first which depends on the individual child.

I had a debit card for my bank account but my mother kept it and I didn't know the pin for it until I was 17 and had a proper wage.

I used to get money as presents or pocket money every so often and it always went into my bank account. If I wanted to take money out I had to go into the bank and I had to tell my mum what it was for. Once I was earning that obviously changed. But it did mean that I didn't have easy access to money and had to really think about what I was spending it on, which helped when I got older as I was sensible with money.

You need to teach children the value of money first and then give them a little control. If they mess up and spend all their money then it's a learning experience.