Smiling teen girl holds credit card and finds what to buy online
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In the era of immediate satisfaction, where General Alpha has easy access to immediate distribution services such as Amazon Prime and Uber Eats, some parents are wondering how to teach young money-sacking skills.
Born between 2010 and 2024, General Alpha is not like other generations. They grew up with the ability to shop in their hands with a smartphone and a button.
In fact, their spending skills are very large. General Alpha spent £ 92 million According to research by Financial Technology Company Gohanry, between 2023 and 2024 ($ 126.2 million), which offers debit cards for children in UK, US, France and Spain. Gohanri published its Youth Economy Report in September 2024, provided data from 311,832 Gohanry Kids.
Most of this money is going for online services, Goeni Kids has spent more than £ 3 million on food distribution services, which is already 113%. Additionally, about half of social media platforms such as Tikok Shop, Facebook Marketplace and Instagram prefer to shop.
His economic footprint is expected Reach $ 5.46 trillion By 2029, according to the research firm McCriel.
“The convenience and speed has become ideal,” the founder of Louis Hill, Gohanri, said that CNBC made it in an interview. “When we are especially thinking about General Alpha, we need to remember, they are fully used to be fully used to be available on a switch click on a switch click, and it drives different behaviors with money.”
Hill reported that despite the arrival of online financial education resources, money products and apps have also increased, which are easy to use, such as credit cards, purchases, purchases, procurement-peace-paying-pai-pai-pai-pai-pai-pai-pai-pai-pai-pai-pai-pse options and contactless payments. This makes it more complicated to navigate money skill teaching skills for children for parents.
He emphasized the importance of understanding children “that money must be earned before spending,” and then spending it with thoughts and thoughts.
Make money ‘tangible’
Hill said it is important for children to see “tangible aspects of money” like physical cash, to understand its value. Giving “regular pocket money” is a solution, from giving £ 5 pounds to 50 pence a week.
“If you give a child 50 pence and choose a day of the week that works as a family for you pocket money, then you can literally give them 50 pens every Saturday. It’s incredible that they will start feeling so quickly ‘Oh, look, I save it on four Saturdays.
Handling physical cash shows children how much their favorite items cost.
“You can give some coins to a child, and then they can conceptualize how many of those coins are exchanged for a bag of sweets, versus a big toy.”
For adolescents, Hill proposed the method of “pizza budgeting”, which allows children to visually understand how much money is lost in running a house and paying bills.
“Pizza is a pot of money, or your wages, or your pocket money and then taking the baby, would you like to guess how big a slices of pizza are, if we have domestic wages then we need to cut how big slices we need to rent or pay hostage?”
As the pizza becomes small and small, it creates an understanding of how much money is left for holiday expenses.
Include children in money conversation
Children are like a sponge and absorb the approach to the surroundings of money from their parents, so Hill believes that it is good to keep them in the loop about domestic finance.
He presented an example of the cost of a living crisis in the UK after the Kovid -19 epidemic, which was widely quoted in the media. Gohani began to hear from customers that their children were concerned about the cost-lived crisis.
“Children absorb everything in the same situation where perhaps as a family, you insist on money,” he said.
Parents can talk about struggle without money to increase the exact issue, as if they are unable to pay rent.
For example, Hill said that if you can no longer do a take -off every Friday night, then include children in making “fakeway”, which means making a techway at home.
Hill said, “What can happen about children to be involved in making pizza and choosing topping? Maybe instead of paying money for a takeway instead of going to the supermarket with you and choosing those topping, they are being shown how much money is being saved.”
This can help children feel more in control of habits spending their money, and when they need to grow up, learn them to tighten their belts.
