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Is your child ready to level up their savings? We’ve partnered with Monzo to set them on a 30-day savings quest, which will see them vanquish impulse spending, navigate the spend-trap forest and level up their loot.
It’s time to take up the mantle and turn pocket money into rocket money. Here are some step-by-step instructions for you and your kids to follow….
Turn pocket money into rocket money with a Monzo for Under 16s account and earn 2.75% AER (variable) interest on savings (interest correct as of 23rd February 2026).
Ages 6-15. UK residents. Parent/Guardian account needed. Interest paid monthly. £10,000 maximum in savings per child. Ts&Cs apply.
Sign upWelcome to week 1. The aim for this week is to help your child set up their Monzo account, open a savings pot and make their first deposit. To help, we have several mini-quests to complete along the way.
Have you been holding onto your child’s savings until you could find them a home? Add up how much they have and get ready to transfer it to them for their first deposit.
Work out how much they want to save before the 30 days are up. Make sure it’s something that will challenge them, but that’s not out of reach.
Monzo for Under 16s has a savings pot which earns 2.75% AER (variable)* paid monthly. Using their app, they can name their savings goal, as well as add a target savings amount.
Now it’s time for them to add money to their savings. Even if it’s just £1!
Together, you can check their balance in their Monzo app. Take a moment to celebrate that they’ve successfully completed week 1 of your 30-day savings quest.
Week 2 is all about helping your child add to their savings pot. They’ll need to search out 3 ways to add to their savings. Here are some pro-tips to help them on their quest.
In your Monzo app, you can set up a regular pocket money payment. When they receive their money this week, ask them to put away at least 20%. Say you give them £5 a week, make sure they add £1 to their savings pot. Monzo’s Savings sidekick will be happy to see them do this.
Teach your child to round up what they spend to the nearest pound. You’ll need to get them to deposit this manually into their savings pot.
Get them to successfully turn down one small purchase and save that money instead.
Head to their Monzo app and add up everything they’ve saved so far. Even £2 or £3 is a step towards their final goal.
Turn pocket money into rocket money with a Monzo for Under 16s account and earn 2.75% AER (variable) interest on savings (interest correct as of 23rd February 2026).
Ages 6-15. UK residents. Parent/Guardian account needed. Interest paid monthly. £10,000 maximum in savings per child. Ts&Cs apply.
Sign upWeek 3 is all about avoiding temptation and staying strong. We’re halfway through our quest, so look out for some mini boosts to help them stay the course.
Keep a beady eye out for discounts. If they spot a deal, encourage them to deposit what they’ve saved by bagging a bargain into their savings pot.
Identify one thing they regularly buy and ask them to save that money instead. Sweets after school on a Friday? Give it a miss this week and secure the spoils.
Now is the time to give them a little boost. If they’ve managed to stay on track and make progress, why not match their savings to give them a digital pat on the back?
Check the progress bar in their savings pot to see how much is left to reach their goal.
Week 4 is the final push to the finish line, and the time to start planning how you’re going to reward them for completing their quest. But before we get carried away, here are some power-ups to help them keep their eyes on the prize.
Search out any last opportunities to earn or save. Encourage them to ask if there are any extra chores they can do for money, or any old pieces of clothing they can sell to boost their final total.
Head to their Monzo app and show them how much interest they’ll be paid at the end of the month.
They’ve almost completed their quest, so why not set them a final mini challenge? Ask them to tell 3 friends about their savings quest and what they’ve learned. For each person they tell, add 50p to their pot.
The quest is complete. Whether they’ve hit their target or come close, it’s time to celebrate. They’ve stuck with this challenge for 30 days, resisted temptation, and built a real savings habit. That’s worthy of recognition. Congratulations, young saver. Arise, Sir Saves-A-Lot.
Turn pocket money into rocket money with Monzo for Under 16s
Kids get their own neon card, earn 2.75% AER (variable) interest on savings (interest correct as of 23rd February 2026), set their own saving goals and track their progress. It’s a free account with parental controls so kids can spend and save safely, building good money habits for life.
Ages 6-15. UK residents. Parent/Guardian account needed. Interest paid monthly. £10,000 maximum in savings per child. Ts&Cs apply.
Sign up today
We’ve partnered with GoHenry to bring you an essential guide outlining the money lessons that kids actually want to learn. (Paid content)
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