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When is the right age to teach a child about the use of money/using a revolut card?

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  • 07-04-2024 11:04am
    #1
    mollybird
    Registered Users Posts: 1,053 ✭✭✭


    My husband has started to put a small amount of money into a seperate ac in his revolut ac for our 6yr old daughter. When is the right time to let kids to start learning about the use of money or giving them a revolut card?

    On a side note anyone that has been giving their kids some pocket money what age did ye start? wondering when is a good age.

    Thanks



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    #2
    Feisar
    Registered Users Posts: 6,606 ✭✭✭Feisar


    Don't be surprised at how early they grasp the concept of money. My MIL brought our eldest to the shop at about three to get a packet of buttons. She had forgot her wallet and he had the packet in his hand at the time, said to him I'm sorry I have no money with me. He put them back and headed for he door. The fecker would sell his soul for chocolate! The amount of wars in the house when he gets his two buttons and wants more!

    Personally, and it might be just me I'm not mad on the idea of a card, tappa tappa tappa till it doesn't work. Actual cash might work better in terms of teaching them to budget. I'm looking forward to handing him the money in years to come for his schoolbag/shoes/uniform/coat.

    First they came for the socialists...



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    #3
    witchgirl26
    Registered Users Posts: 2,070 ✭✭✭witchgirl26


    I think the earlier the better for some aspects of understanding money (just don't do what a lot of previous generation did with the whole "you can't get it because mammy & daddy are broke"). I talk to my son about money (he's just 5) but it's always more around the idea of "so you have €5 to spend what do you want to get" and work with him to understand what he can get for that.

    As for the cards - I know a few people who have them for their kids & find them handy for them. It isn't a case of just tapping till its gone, from what I know you can set daily spend limits on them so they can't go mad. My niece travels across the city for school (she's a teen) & her limit has enough to allow her lunch & a bit extra but that's all.



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