DIGITALISATION Q2 2021 1
9 years old We recommend 30 kronor a week SEK 30/
week 13 years old We recommend 350 kronor a month SEK 350/month 16 years old We recommend the entire study grant, and that you sit down together to produce a budget for what the money should be spent on Study grant/month In the Pocket Money Assistant, customers can calculate how much pocket money is recommended based on the child’s age. For example, the recommendation for a 16-year old is that the entire study grant received from the government is provided as pocket money, and that the parent and child make a budget together to determine what the money should be spent on. Icons, amounts and text change according to age, and the recommendations are based on simple rules of thumb determined after consultation with the operations. It is possible to click on a link to open account, and the customer also receives tips on how they can encourage their child and help them maintain an interest in personal finances. Five pocket money tips 1. Encourage the child to save all, or a part of, their pocket money, then reward the child when they reach their savings goal. It is worth starting with shorter, easier savings goals and then gradually increasing the amount. 2. Decide together what the pocket money should be spent on. Will your child be given the chance to earn some extra money by doing chores? 3. Let the child make mistakes. Does your child want to buy a meaningless toy that breaks after just a week? Let your child decide. This is part and parcel of learning to manage money. 4. Try to restrict yourself to only giving pocket money at set intervals – weekly or monthly. If the money runs out, it’s because the child has decided to spend it. Learning the consequences of money running out is an important lesson for the future. 5. To keep the child interested, the next step may be to obtain a bank card for the child. Challenge yourself by setting a minimum age. They understand more at ever younger ages. Does your child already have a bank card? Then maybe the next step is to teach the child to invest their pocket money? Would you like to teach your child about money? Pocket money can be the first step to giving your child financial superpowers. Read our top tips on getting started, and find out what a reasonable amount of pocket money is for your child. HANDELSBANKEN 21