As you try to get back into the school routine after the holiday break and try to stop spending quite so much, goHenry’s online money management solution can provide a good way of learning how to save. Here are our top five tips for getting your children to rein in the spend
1. Think about activities that don’t cost the earth
There are lots of things that can be done without spending money, except on the essential household bills. Taking time out from spending means having to find alternative things to do with your time, and that could mean digging out your DVDs, or finally arranging that get together for your children, or taking advantage of the free museums and art galleries in your area.
2. Enjoy your holiday gifts!
Before we get carried away with the January sales, remember that Christmas was only three weeks ago and the gifts you received last year are still brand new. Perhaps there’s no need to rush out and spend money on having more things right away. goHenry is a great way to store money online and encourage saving up for later in the year.
3. Find a hobby
Let your children pick an interest, and encourage them to pursue something outside of the school day as a hobby. Trying photography, or painting, or exploring the countryside are all pursuits that don’t cost too much and help your child develop their individuality.
4. Save your short change
Putting aside a pound or two every week and making a routine of it is a good way for your children to learn how to save up for the future. If they’re receiving pocket money through goHenry they can set goals for what’s left at the end of each monthly allowance and enjoy watching their pot of savings grow.
5. Write a wish list
We all have aspirations for what we’d like to be able to buy one day, and starting to think about what we’d like to invest in when we’re older is a good motivation for saving today.