Spend

Learn the value of money

1. Let your child make their own purchase decisions. Give your child freedom to spend parts of their allowance – even if you find the purchase unnecessary. Own experience is the best teacher.
2. Talk about the difference between needs and wants. Help your child to grasp the what they need and what they simply want. Use everyday examples. “Fashion brand jacket”, or “A jacket”?
3. Show that money runs out. Let your child feel that money is finite. This is an important insight that builds responsibility.

With Gimi, your child can get help to easily keep track of their balance, get monthly statistics on purchases, and get allowance paid out.

Earn

Money do not come by itself

1. Link work and reward. Let your child earn extra money by doing simple household chores that go beyond the norm – for example, walking the dog or cleaning out the storage room.
2. Encourage initiative. If your child comes up with their own ideas (such as selling juice or helping neighbors), support them and show that you believe in their abilities.
3. Talk about pride in earning your own money. Emphasize how good it feels to buy something with your own money. This builds both self-confidence and an understanding of the value of money.

With Gimi you can set up chores directly in the app. Either as stand-alone chores, or as the basis for allowance. The child can also suggest them themselves.

Save

The foundation of security and goals

1. Talk about goals at your child’s level. Help your child set concrete savings goals, such as a toy or new headphones – preferably with pictures or a list to visualize the goal.
2. Show that saving takes time. Explain that you can’t get everything right away – and that’s a good thing! Waiting and saving makes the reward more valuable.
3. Make saving a habit. Encourage your child to put aside a portion of their weekly allowance each time. Make sure your child can see their savings grow and get closer to their goal.

With Gimi, your child can choose to save for a pair of headphones, for example, and work towards the goal themselves by putting money aside in their Savings Vault. As a parent, you can encourage saving by setting a bonus.