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

1. meet Ross
Dad to Joe age 8
and Mia aged 5
My kids and
Pocket Pound

2. I wanted my children to understand
the value of money...
..and to develop
money
management
skills

3. So my wife and I become
their first Bank Managers!

4. We use pocket money
as part of their
financial education
with the help of
Pocket Pound...

5. We sign an agreement with Joe and
Mia to pay pocket money in exchange
for chores and good behaviour

6. We decide how much interest we will
pay them on bank balances. And how
much to charge on debt!

7. Using a rate card, Joe and Mia can see
how much they can earn for chores
and good behaviour

8. Now weʼre all in
agreement on how
and when pocket
money is paid
✓

9. Week by week we keep track on how
much has been earned against each
task...

10. ...add totals to their bank statements,
and calculate interest

11. If Joe or Mia want to
buy a toy, they can
write us a cheque for
the cash...
...or if agreed, use
their pretend credit
card

12. However, we make
sure interest is
charged and they
understand why

13. Most of all, the kids
have fun while
learning...

14. ..and we feel good
giving them a financial
advantage

15. Durable Wiro
Bound Booklet
With Colourful
Tabbed Sections
For ages 4 - 11
www.pocketpound.com