SUN SAVERS
Four ways to teach kids how to budget and value their money
Plus, where to get 25 per cent off all Christmas tree lights
GIVING your children pocket money is a great way to teach them how to budget.
And encouraging them to earn their pennies is also a valuable lesson in responsibility.
7
Here are some ideas to get kids managing their own cash.
CHORES: Children love a cash reward for little jobs such as tidying their room or helping with the cleaning.
This can also help instil the idea of working for your money — plus you get a helping hand around the house.
However, some parents may prefer kids learning to do their bit without a financial incentive.
READ MORE MONEY SAVING TIPS
BANK ON IT: Handing over physical pocket money is fine, but as more businesses become cashless, a card might be easier. It offers more protection if it gets lost as it can be cancelled, whereas cash could be gone for good.
From age 11, you can open a kids’ bank account, which is fee-free and comes with a debit card. Children are not allowed to go into an overdraft.
APPY SPENDING: There are a number of specific pocket money cards and apps which can be used by younger children, from the age of six.
Preloaded cards are similar to a debit card and the corresponding apps allow parents to keep an eye on where their kids are spending. You will usually get an instant alert when the card is used.
Most read in Money
Some of these accounts come with a small monthly charge. However, there are free options. If you’re a NatWest customer, you can join Rooster Money for free, saving on the annual £19.99 charge. Or HyperJar offers a free prepaid debit card and app.
SAVINGS: It’s important to educate youngsters on the benefits of saving if they’ve got their eye on an expensive purchase or have a special occasion, such as a holiday, coming up.
I’m eight-years-old and own my first HOUSE - I saved up my pocket money from chores to buy it & it’s now worth £500k
You can set up physical envelopes or jars for cash.
Alternatively, HyperJar lets you create individual digital pots for different things.
Setting up savings accounts together is a good opportunity to talk about the idea of earning interest on your money.
- All prices on page correct at time of going to press. Deals and offers subject to availability.
Deal of the day
7
PICK up the Haul Of Fame beauty bundle for £47.50, worth £95.25, until November 28. Available from Avon reps or .
SAVE: £47.75
Cheap treat
7
TRY a new spin on a festive classic with Morrisons The Best Cherry Bakewell mince pies, £2.75 for a pack of four.
WHAT'S NEW?
ALDI has launched beers crafted from food waste.
Try Toast Brewing Another Round Session IPA, £1.99, or Freedom Brewing Misfits Summer Fruits Beer, £1.49.
Top swap
7
7
GIVE your cutlery the Midas touch with this 16-piece set from Habitat, top, £28. Or the 16-piece gold set is £13.99 through The Range’s online marketplace, above.
SAVE: £14.01
Shop & save
7
STITCH up some savings with the Hobbycraft 32S sewing machine, down from £153 to £128 in-store and online.
SAVE: £25
LITTLE HELPER
LIGHT up your home ready for festivities with 25 per cent off all Christmas tree lights at Homebase.
The deal takes this 16-strand net down from £24 to £18.
Hot right now
TAKE out a Sainsbury’s Bank pet insurance policy through Gocompare.com this month to get a £40 Sainsbury’s gift card.
PLAY NOW TO WIN £200
7
JOIN thousands of readers taking part in The Sun Raffle.
Every month we’re giving away £100 to 250 lucky readers - whether you’re saving up or just in need of some extra cash, The Sun could have you covered.
READ MORE SUN STORIES
Every Sun Savers code entered equals one Raffle ticket.
The more codes you enter, the more tickets you'll earn and the more chance you will have of winning!
Topics