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The school summer holidays are very much upon us. So why not set your kids a fun little money challenge to help towards their holiday spending money?
The challenge is to see if they can save or earn £10 before their summer holiday. Check below to see how my own kids got on… Plus, a few tips to help get started with a little help from GoHenry's smart money app.
Give your child the head start you wish you’d had, with their own smart money app and card. Get 2 months free plus £20 pocket money with code AFFFDR220.
Get startedIf your children already get a weekly allowance, then the first step would be to encourage them to try to save it. GoHenry has separate savings spaces, where your child can put their money to one side. They can name their goal and even set a deadline for when they want to hit it. Perfect for the £10 Summer Holiday Challenge.
The next step is to see how much money they can earn. One of the ways to do this is by helping out around the house and doing chores. Within the GoHenry app, you can set your child weekly tasks to do. For example, they could earn themselves an extra £1 a week for tidying their bedroom or an additional 50p for clearing the table. Simply tick off when they’ve done this task in the app, and their weekly allowance will automatically be boosted.
Why not kill 2 birds with 1 stone and encourage your children to declutter and sell their old toys, clothes or books? They can use apps like Sell Your Books, Vinted or Depop (with adult supervision) to sell their unwanted items. It’s a way to help them with their £10 challenge, but also sort their rooms out a bit!
“Why not kill 2 birds with 1 stone and encourage your children to declutter and sell their old toys, clothes or books? It’s a way to help them with their £10 challenge, but also sort their rooms out a bit!”
Get the wider family involved in the challenge. Encourage your kids to ask if there are any chores that their grandparents need help with, like washing the car or watering the plants. When it comes to paying them, GoHenry has a handy little Giftlink feature, where you can share the link with friends and family, and they can make the payment straight to your child’s card.
Whether or not they manage to save £10 before you head off, remember to take their GoHenry card with you as they can use it abroad fee-free. It makes souvenir shopping that much easier, knowing they can pay without being hit by any foreign transaction fees. Just be aware that some ATMs do charge, so always check first.
We would love to know if you attempted the challenge and how you got on. Share your experience on Instagram or TikTok and make sure to tag us and GoHenry!
Give your child the head start you wish you’d had, with their own smart money app and card. Get 2 months free plus £20 pocket money with code AFFFDR220.
Get started
How did you find the challenge?
Quite hard at first because I didn’t really know what I was going to do, but it was easy when figured that out. I hit a kind of pothole, though, as I thought the app I was using to sell my books needed me to sell £5 worth of books, and each only sold for around 10p.
How did you get up to £10?
I ended up selling 10 books and eventually got £1.82, so I was happy about that. I get £2 per week allowance, which I can boost if I clean my room and feed the cats 3 times. So that boosts me up to £4.50. Then I actually got £10 from Nana for my school report.
What are you going to spend your £10+ on?
Hmmm, I don’t know. I think I may save some for Disneyland and some for Italy. I want to get another snow globe for my collection.
How did you find the challenge?
I found the challenge hard at times, especially when I didn’t know what I was going to sell. Once I knew that, it was easy.
How did you get up to £10?
So I get £2 for my allowance, and then I earn £2.50 for my chores, which brings me to £4.50. I sold my old Manchester United kit that doesn’t fit me any more for £5 and my Nana gave me £15 for having good SATs results.
What are you going to spend your £10+ on?
Food! I may get myself a Mickey Mouse waffle at Disneyland or something.
GoHenry: where kids go to learn money
Kids learn to earn, save, spend and invest with pocket money, custom savings goals, gifted money from family and friends, gamified lessons and more. Give your child the head start you wish you’d had, with their own smart money app and card. Get 2 months free plus £20 pocket money with code AFFFDR220.
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