We’re fast becoming a cashless society. Many of us pay for our shopping with debit and credit cards and check our balance on our mobile phone. While it’s quick and easy for us, it can be tricky for children to understand that we’re spending real money.

How do I teach my child about digital money?
It’s worth taking the time to explain how digital money works, so your child, even if they’re very young, understand that you’re not getting things for free when you make a cashless payment.
Using a gift voucher online
Gift cards have a fixed amount of money, so they’re a useful way to help children understand that once the money is spent, it’s gone.
Get money out of a cash machine
Next time you draw cash out from a cash machine, talk your child through what happens.