Pocket money and good habits – go Henry!

Having a school-aged child and never any ready cash (I was always forgetting to take out cash for pocket money) I needed a pocket money solution that I could set and forget and go Henry was the answer.

I heard about go Henry when they did a big media blitz a couple of years ago and signed up for an account for my daughter (she was 8 at the time) and it’s been a great experience so far. Signing up was quick and easy and really does take just a few minutes (my daughter spent more time choosing a card design that I spent signing up).

You put your name, child’s name, address and the account details for a monthly direct debit and you’re off. A personalised contactless card arrived within days, making my daughter feel very grown up and independent!

There’s a monthly fee of £2.99 and a few transactional fees for use abroad, replacement costs etc, but they’re reasonable and clearly outlined on the website. As a parent, you set a weekly or monthly allowance, with the ability to add additional tasks for extra pocket money.

Setting different actions and parental controls is clear and easy. In addition, parents receive real-time notifications on when and where their child is spending and can set spending limits or restrict whether they can shop online, withdraw cash and so on.

It’s great for kids too as they’re taught about budgeting and saving. They can create their own savings plans and call them whatever they like. My daughter has goals called Camera, Christmas Presents, and optimistically one called Puppy. go Henry automatically transfers money to these goals, assuming there is money available of course.

Although we’ve never had to use it, it’s easy to put the card on ‘ice’ immediately if the card disappears into the abyss of their bedroom or out in the wider world.

Another great feature is being able to add relatives to the account, meaning you can add grandparents, godparents or aunts and uncles and they can see the child’s saving progress, send them a message, or gift them money directly.

go Henry as an easy way to pay pocket money, it has great user-friendly apps for both you and the child and is the perfect way to teach kids to save and manage their money in this cashless world.

Article is accurate at date of writing.