Updated post. Advertorial with Revolut Junior.
I feel grateful that my folks taught me the value of money from a young age (thanks Mum and Dad) because those lessons endure today and I turned 39 in November! I distinctly remember my first pink piggy bank with its rubber stopper which worked so well I struggled to prize any pennies out of it (which was one way to save, I suppose) and the I’ll equally never forget the time my Dad drove me to a bank in Leeds city centre one rainy day in November when I turned 10 so he could open up a children’s bank account for me.
I perched at table at the back feeling like a grown up, carefully counting out my pocket money accumulated from cleaning the family car and typing up letters for my Dad (I always loved to write), building little towers of coins as I went which sat by a crumbled pile of notes I’d been gifted for my birthday. This was my money, mine, and most of it, earned by me.
Those formative financial lessons and the joy of earning my own money have always stuck with me. Actively practicing money management from a young age has influenced how I now earn, save, spend and run my business. It inspires how I raise my children too.
There’s nothing worse than spoilt, entitled kids and while my boys are lucky that my blogging career provides them with enriching opportunities, they deeply value and appreciate these experiences. Both boys are caring kids with big hearts.
They’re also massively sensible about money and together have saved more in the past few years than I ever did at their age. At just 10 and 7 respectively, they seem to possess aspirations for financial freedom one day. Take Alexander, 7, who told me a few months back that the money in his Vikings Wooden Box (a wooden, carved trunk of great beauty we bought at the Viking’s Centre in York) will go towards buying his first house when he’s older. Most 7 year olds save up for a board game or brand new bike but Xander’s holding out for his own house thank you very much! Have you seen the house prices in Windsor, son???!!!
…As you can imagine, both boys literally yelped with joy when they were sent bank cards from the brilliant global digital money app Revolut Junior who are dedicated to helping children learn and save money easily.
Revolut Junior is a money app for parents and kids to manage allowance. It encourages little ones to learn smart spending, earning and saving habits with parental oversight of course, and equally foster healthy discussions about money at home.
Via a quick and easy downloadable app run from your child’s phone, parents can give their kids early access to financial tools which enable them to manage their money like an adult would.
How cool is that?
Without access to finance, tools and education about money and how best to manage it, children aren’t able to learn healthy habits nor will they grow into smart savers as adults.
With insight and support, the children of today will become financially savvy adults. They’ll know how to live within their means, and thrive.
Revolut Junior provides an important life lesson, and the app couldn’t be simpler to set up or use.
How it works:
- Parents can create a Junior account for their kids in a few clicks from within their Revolut app. It’s open in minutes, without a bank visit.
- No minimum deposit/balance.
- Order their child a card (7-17 year old kids) which arrives in days (ours arrived in 2 days from ordering)
- In app ATM Map
- Hold multiple currencies at once.
- Top up money on the Junior account.
- Children can then access their allowance using their card, with the parents permission & oversight.
- Kids can keep track of their spending and balance using their Junior app.
- Parents can add money on the card, control payment modes & security settings and keep track of their children’s spending.
…Cash can also be inconvenient (I can never find change when the Tooth Fairy’s meant to deliver) so the Revolut Junior app makes paying pocket money and giving presents on special occasions, easy. Being an online app also makes tracking spending and saving easy too.
No fiddling with Piggy Banks that don’t open like my old one, this app is clear and useful so children can work out what they have available allowing them to make informed decisions on their spending.
We as a family are premium metal users (£120 a year) and have tested the app for the last month to great effect.
The children are not only more excited to do their chores because they enjoy viewing the money being transferred digitally to their accounts, they have both stated how they feel more grown up now they have a bank account each.
This greater responsibility has encouraged more activity in the home and has made rewarding them for extra chores such as vaccumming and helping me cook and bake (core chores like making their beds, laying out uniform and clearing the table are not paid) quick and easy.
When it comes to spending, additional treats (an ice lolly or chocolat ebar after school on a Friday say) have been paid for by the boys themselves. They’re both taking pride in managing their own money and it gives me peace of mind as a parent that they’re learning the value of money from a young age.
Alexander even bought his friend’s birthday present recently (a small LEGO box), whih is something I would usually fork out for. He himself offered to use his own money because he could see exactly what was in his account via the app. Previously unaware of what was in the Viking box (it’s hard to count all those pennies and pounds) he reasoned he had enough money to buy the present and still have cash left over for his own treats. A 7 year old was budgeting thanks to Revolut Junior.
Oliver has had a similar experience. He opted to buy me an early Mother’s Day present of tulips after school yesterday which almost made me blub in the supermarket. What a milestone. My own son buying me a bouquet with his very own money. Is anything acutally sweeter than that?
Thank you Revolut Junior.
Also FYI folks, the app and card are completely safe and secure for children as Revolut blocks merchants who are not age appropriate, for example alcohol resellers, cigarette shops and gambling establishments so you can use this service without worry.
The app offers so much and is the offspring of the popular Revolut money app for adults with 10 million users no less!
If you’re seeking an adult Revolut account by the way (I’ve opened one) do check out the below too:
- Open in minutes, without a bank visit
- Free UK account | Free Euro IBAN account
- No minimum deposit / balance
- Can have a debit card in days
- In app ATM Map
- Hold multiple currencies at once
- Sending & receiving money from back home
- Hold 30 currencies | spend in over 150 currencies
- P2P (Peer to peer): in seconds, no rip-off rates
- Transfer & Exchange: no rip-off rates
- Traveling abroad: no rip-off rates
- Auto exchange currency: no rip-off rates
- Enhanced security features (Freeze/unfreeze cards)
- Lock certain payment methods (Online/Swipe/Contactless/ATM withdrawals)
- Location based transaction monitoring (Check for suspicious transactions not in your location)
- Budgeting tools & analytics to track your spending
- Spare change vaults to help you reach your saving goals
- Split bill with your friends and family
- Exchange crypto currency
- Revolut donations (round up spare change / set up recurring donations to donate to charity).
We feel proud to be working with Revolut Junior and Revolut and are incredibly impressed with how accomplished and easy the app is to navigate and use and feel confiden you will love them too.
Get your Revolut Junior account here.
Excitingly, 3 readers can win an annual Metal account on the Revolut Junior app worth £120 per account.
Please note as of Wednesday 13th May 2020, Revolut can no longer offer free cards to new users.
Ends (1 month from publishing date).
No cash alternative.
If the winner does not respond within 7 days, a new winner will be randomly selected.
This is a sponsored campaign but as always my words are honest.