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Gen Alpha is easy to access the immediate delivery services that Amazon Prime and Uber eaten. Some parents ask how to teach your money saving skills.
Born between 2010 and 2024, Gen Alpha is not like other generations. They grew up with smartphones in the hands and the ability to click the shopping button.
In fact, their spending capacity is horrible. Gen Alpha spent £ 92m ($ 126.2 million) between 2023 and 2024, according to the research company of Gohenry Financial Technology, the UK, US, France and Spain offering children’s debit cards in Spain. Gohenry published the youth economic report in September 2024, which provided data to children from 311,832 Gohenry.
A large part of this money goes to online services, GOHENRY children spend more than £ 3m in food delivery services, 113% up to 113%. Also, almost half of the Tiktok store, Facebook Marketplace and Instagram likes shopping on social networking platforms.
Their economic footprint is expected Arrive $ 5.46 billion 2029. By the year, according to McCrindle research company.
“Convenience and speed have become rules,” Louise Hill, creator gohenry, said that CNBC did in an interview. “Gen Alpha is one of the things we are thinking is especially true, that is used on a variable that is used to click on a button, which drives different behaviors.”
Hill explained that although line financial education resources have also been easy to use products and applications on applications, such as credit cards, purchase payments and contact payments. This makes the parents more complex to navigate the skills of teaching money to children.
He stressed the importance of children “the importance that they need to win before earning money,” and then thought and consideration.
Become ‘tangible’ money
Hill said it is essential to see children in cash “intangible money” to understand its value. It is a solution for giving “regular pocket money” to give £ 50 per cent per week.
“It can be Saturday for 50 years in the day of the week. You can give them 50 cents each Saturday.
It allows children to handle physical money to find out how much their favorite items cost.
“You can give a few coins to a child, and then exchanging how many of these coins exchange a bag of candy, because of a larger toy, he said gohenry creators.
For teenagers, Hill proposed the method of “Pizza Budget”, which children understand the opportunity to visit children visually and to pay bills.
“Pizza is your money or your pocket money, or your pocket money and then it’s to take the baby.
Since the pizza is smaller and smaller, he understands how much money left to gain recreation.
Enter the kids in money conversations
Children are like sponges and they tend to absorb money between parents, so Hill believes that it is good to keep the loop about home finance.
He offered an example of the cost of living crisis in the UK, after the Covid-19 pandemic, which was mentioned a lot in the media. Gohenry began to listen to customers who were worried about their children’s crisis.
“Children maybe, as a family, they overcome money,” he said.
Parents can talk about money without rising accurate topic, such as those who cannot afford income.
For example, Hill said if you don’t take it every Friday night, and then the child participates in “comments”, making a way to take home.
“What happens when you make a pizza and choose toppings? Maybe go to the supermarket with you and pick up these toppings instead of paying money, and then show how much money is stored,” Hill has added.
This can help children control money spending habits and learn to tighten belts when they need to grow older.
