Financial confidence is a superpower

Talking to children about money can be tricky, to say the least. With the Penny Pep, we hope to lower the threshold and open the door to fun and educational conversations about money. Here we have collected tips and advice from experts and practical exercises that can be done together with the children. Everything so that your your child can go out into the world with wise and healthy values regarding finances.

You can start talking to your kids about money as early as 5-7 years old. At this age, your child understands that things can happen in the future, for example that if you save money, you can buy something more expensive later. You may also notice that your child is getting better at reasoning, drawing conclusions and understanding consequences.

I'm not made of money

Where does money come from and how do we get it? Maybe your child thinks you are a living ATM. Let’s talk about this.

The weekly allowance

How should you think about weekly allowance? Card? Cash? Stiplulations?

Fun is a must, right?

It can be difficult for children to understand the difference between must haves and wants. For them, sweets are perhaps at the top of the priority list and therefore a must. How can this be explained?

Why should you save?

If there is money, why not spend it? Your child may want to spend all the money. How do you explain the value of saving?

But I want it!

Most parents have probably heard that sentence before. But how do you deal with it?

Everybody has it!

All families have different financial possibilities. It’s obvious to us adults, but how can you explain it to your child?

Everything has a value

As cash disappears and becomes more of an abstract concept, it can be harder to explain ant to understand the value of money. How do you explain this to your child?

There is a big difference between an eight-year-old and a ten-year-old, so you need to adapt to your child’s age and maturity. At this age, friends are becoming more and more important and your child is starting to see that families live in different ways. It can spark a lot of thoughts that make conversations about money more complex. Maybe your child wants to know why you have more or less money and why you buy, or don’t buy, certain things.

The weekly allowance - how should one actually think?

How should you think about weekly allowance? Card? Cash? Stiplulations?

How do you talk about budget with your kids?

Adults often make priorities and plan how the money should be used. But how do you get your child to understand the value of a budget?

To look forward to something

Giving your child savings goals is important – not least when he/she wants increasingly expensive things.

Fun activities are a must, right?

What you and your child see as must-haves can differ significantly. How do you explain the difference? For them, ice cream is perhaps at the top of the priority list and is therefore a must. How can this be explained?

How to make money

Does your child believe that your bank card contains infinite amounts of money? How do you explain that you need to earn new money to replenish it?

But why can't I buy stuff in the app?

If your child plays, they will probably want you to buy new games or make in-app purchases. But can you use the weekly allowance for this?

Vacation talk

At this age, children become increasingly aware that families have different circumstances and live in different ways. Some families can afford to go on holidays abroad and on ski trips several times a year. How do you talk about this with your child if you can’t afford the same activities?

But I want it!

How should you deal with that sentence? Let’s talk about it.

Everyone else has it

How do you encourage healthy values without your child feeling left out? Here are some tips.

At this age, your child wants to be increasingly independent. Therefore, freedom under responsibility is a smart way forward. During the period before adolescence, your child often feels that he/she is big. At the same time, he/she sometimes needs to be more of a child than a soon-to-be teenager. When they reach adolescence, independence accelerates and the need for participation in decisions concerning themselves increases.

Time for monthly allowance

With a monthly allowance, the child learns the importance of prioritising, planning, and not spending everything right away. What should you, as a parent, think about?

"Can I have some extra money?"

What should you do when your child asks you for more money? It depends.

To look forward to something

Research shows that setting goals is fundamental to learning the value of money and saving. But is it possible to think like that for children and teenagers who are quite short-sighted, not least when it comes to money?

Budget - a tool that can actually be fun

The key to a healthy economy is knowledge and control of one’s money. Here, a budget is great – but how does it work?

Buy now - pay later

Does your child want expensive things that they may not be able to afford? Even if your child cannot yet buy on credit, it can be good to explain how it works.

Vacation talk

Some families can afford to go on vacation several times a year, while others can’t. How do you talk to your child about this?

"Everyone else has it"

How do you create healthy values without your child feeling left out? When other children have expensive designer clothes, the latest gaming consoles, and other things, you need to be able to talk to your child about it.

Compound interest

Kids are faced with temptations left and right these days. So how can you even begin to talk about things like interest?

But I want it!

You have probably heard this many times. To respond to that, you need to show the difference between must and want.