Spriggy is helping my girls learn about digital currency, well actual money but using a pre-paid debit card.
The girls do chores around the house to earn pocket money. The pocket money is paid into their Spriggy cards via the Spriggy App.
Not only can you add money to the cards via the app you can also set up real time notifications so that you can get alerts every time the card is used.
I've noticed a few things since the twins have had their Spriggy cards:
* They buy for others more
* Not just friends but they like to buy for each other too. In September they wanted to buy a birthday present for each other. It was lovely to watch this happen.
* Understanding about how much things cost and making sure that they can afford to buy them.
* Thinking if the item will be something they or the other person will enjoy or use.
* Purchasing practical things, like books from the school library book sale.
* Keeping money in the Savings part of the card for their savings goals, the kids seem to have many, having a pet, a phone a holiday and more toys!
* Looking at the price tags and doing maths to figure out if they can have it now or need to save for it.
The girl's library teacher was amazed that they had their own debit cards! Rather impressed she was!
The Spriggy App
Everything is managed via the Spriggy App and can be downloaded at the App Store and on Google Play.
* Parents can have their own log in and kids can have one just for them as well.
* Monitor spending and get notifications sent of all purchases.
* Allows you to create multiple savings goals.
* You can transfer money from your savings if you wish, although this will impact your saving goals if you do.
* The Spriggy App allows you to top up the funds on the card via the Parent Wallet.
* If you are at the shops with the kids, you can top up their cards to allow them to purchase something special if you wish.
* Kids cannot go crazy as they can only spend what is available on the card and that's it (It is only a pre-paid card, no access to credit).
Spriggy is available for any child from 6- 17 years of age.
I love the fact that the twins are gaining independence with money and having more responsibility.
I'm making sure that they think about the following:
* Getting to Savings Goals Faster: If they wish to get more pocket money, they can do more jobs around the house. This way more money in savings means getting to their end goal quicker.
* Once they have money in the savings area, I am telling the twins that they need to keep it there to reach their goal. Previously they have taken a little bit out for gifts but now are seriously saving.
* It's okay to spend on things to have fun, just don't blow all your money on sweets, toys or something else that will not last.
* To think about the need rather than the want, yes this is a hard one for ten-year old's, but I think they are understanding it.
* Don't rush into buying something just to purchase and spend. Wait a while, and then if you really want it, come back buy it.
What have you been teaching your kids about money?
If they have a Spriggy card like my girls, have you noticed any changes in behaviour like I have? I feel it is due to them having their own money that they are being more cautious on what they spend on.
Sign up to Spriggy and make sure to use my referral code: TWINSPLUSONE
If you use the referral code you will get $5 and so will I.... Yep a great deal!
A HUGE thank you to Spriggy for sending girls their cards. I have noticed that they more independent, responsible and giving with their own cards. Having the ability to buy things for others and themselves helps them to learn to manage money, and to save. They love being grown up with their Spriggy cards and their purses (Just like mummy and daddy).
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