Finance Parenting

Cashless Flow

Money Cash
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Written by Tim Barnes-Clay

For most of us, pocket money was our first experience of financial responsibility. We saw our pennies grow and disappear before our eyes. Today we tap in, click and swipe without actually seeing a penny.

Cashless society means our kids are growing up with a concept of money that we only experienced in online games. Spending Link’s rupees on a potion isn’t the same as using dad’s debit card to download another game.

It’s important that your kids understand the value of money both online and in the real world. We take a look at how you can use technology to help your children manage their e-wallet.

Cards for Kids

Go Henry and Osper offer prepaid cards linked to an account, which you control. They work like debit cards, but can’t be overdrawn or go into debt. Though the card is free, there is a fee for the account and charges may apply.

Keeping Track

Rooster Money is another free app designed to educate kids about the value of a pound. Unlike other apps, it helps you keep a track of spending, set saving goals and monitor spending. Parents are in control of the cold hard cash.

How can they help?

Top Up

Whether they’ve forgotten their Oyster or just want to make a special purchase, prepaid cards are a convenient way to get money to them. Just top them up online

Safe and Secure

No more worrying about your child losing cash, or being a target for bullying. If they lose their card, or it’s stolen it can be cancelled and blocked.

Parental Controls

Go Henry sends text updates so you can see when your child is spending and on what. You can also put a block on spending. This is handy during exam time, or when you feel they’re spending a bit too frivolously. Both cards have restrictions on websites and products that are unsuitable for children.

Rooster Money lets you suspend an allowance if rules (or a window) have been broken.

Watch the Pennies

Osper, Go Henry and Rooster Money all allow you to track your child’s spending and saving habits through their free apps. Both you and your children can monitor their spending habits


Cash rewards for a job well done is a part of taking pride in your work and achievements. Rooster Money lets you give your child a ‘boost’ which is a one off financial reward for an achievement. So if your child aces an exam or completes a chore you can give them kudos for their hard work. They can even allocate that reward to ‘The Safe’ and squirrel it away.

Working Towards Goals

If your child wants to go on a trip, or buy a pair of trainers Rooster Money lets them set this as a goal. Go Henry also lets you set themselves chores and tasks to complete in return for their pocket money.


Although there are benefits to using cards and apps, don’t feel you have to get on board the cashless train. There is a lot your child can can still learn from tangible money and a piggy bank. It definitely gives them a better understanding of real money. Choose the method you think best suits your child.