Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
meet RossDad to Joe age 8and Mia aged 5 My kids and Pocket Pound
I wanted my children to understandthe value of money...                     ..and to develop                     money    ...
So my wife and I becometheir first Bank Managers!
We use pocket moneyas part of theirfinancial educationwith the help ofPocket Pound...
We sign an agreement with Joe andMia to pay pocket money in exchangefor chores and good behaviour
We decide how much interest we willpay them on bank balances. And howmuch to charge on debt!
Using a rate card, Joe and Mia can seehow much they can earn for choresand good behaviour
Now weʼre all inagreement on howand when pocketmoney is paid✓
Week by week we keep track on howmuch has been earned against eachtask...
...add totals to their bank statements,and calculate interest
If Joe or Mia want tobuy a toy, they canwrite us a cheque forthe cash......or if agreed, usetheir pretend creditcard
However, we makesure interest ischarged and theyunderstand why
Most of all, the kidshave fun whilelearning...
..and we feel goodgiving them a financialadvantage
Durable WiroBound BookletWith ColourfulTabbed SectionsFor ages 4 - 11www.pocketpound.com
Upcoming SlideShare
Loading in …5
×

Meet Ross - Financial Education with Pocket Pound

2,225 views

Published on

How pocket money is used as a financial education tool for children with Pocket Pound

Published in: Economy & Finance
  • Be the first to comment

  • Be the first to like this

Meet Ross - Financial Education with Pocket Pound

  1. 1. meet RossDad to Joe age 8and Mia aged 5 My kids and Pocket Pound
  2. 2. I wanted my children to understandthe value of money... ..and to develop money management skills
  3. 3. So my wife and I becometheir first Bank Managers!
  4. 4. We use pocket moneyas part of theirfinancial educationwith the help ofPocket Pound...
  5. 5. We sign an agreement with Joe andMia to pay pocket money in exchangefor chores and good behaviour
  6. 6. We decide how much interest we willpay them on bank balances. And howmuch to charge on debt!
  7. 7. Using a rate card, Joe and Mia can seehow much they can earn for choresand good behaviour
  8. 8. Now weʼre all inagreement on howand when pocketmoney is paid✓
  9. 9. Week by week we keep track on howmuch has been earned against eachtask...
  10. 10. ...add totals to their bank statements,and calculate interest
  11. 11. If Joe or Mia want tobuy a toy, they canwrite us a cheque forthe cash......or if agreed, usetheir pretend creditcard
  12. 12. However, we makesure interest ischarged and theyunderstand why
  13. 13. Most of all, the kidshave fun whilelearning...
  14. 14. ..and we feel goodgiving them a financialadvantage
  15. 15. Durable WiroBound BookletWith ColourfulTabbed SectionsFor ages 4 - 11www.pocketpound.com

×