This week, we’re going to be talking to Louise Hill, who is co-founder and Chief Operating Officer of GoHenry. I’ve just signed up to GoHenry for my daughter and myself and so far, I’m delighted with the service. So pleased in fact, that I thought you would like to hear about GoHenry and how useful it is going to be for creating healthy discussions with children about money. Stay tuned for more…

Podcast: Subscribe in iTunes | Play in new window | Download

If this show is of any use to you, it would help me massively if you would take the time to leave me a review on iTunes. This has a huge impact on keeping me near the top of the rankings, which in turns helps more people to find the show and to subscribe. I’ll remind you again at the end of the show, but if you want to do it right now, just click the button below:

Sponsor Message

This podcast is brought to you with the help of Seven Investment Management, a firm of investment managers based in London. They specialise in multi-asset investing, bringing institutional investing techniques to ordinary people like you and me. 7IM put their name to my show and to my site because they believe in what I’m doing, trying to get decent, easy-to-understand financial information out to the world. I’m very grateful to them for their support.
You can see what they’re up to at 7im.co.uk

Introduction

Back in Session 26 I covered the subject of teaching children about money. Needless to say this is an important subject, but when I became aware of GoHenry and signed up for it myself, I knew that it added something to that previous session.

I’ll let Louise from GoHenry explain about the service herself, but if you want to check it out then go to meaningfulmoney.tv/gohenry – this is a referral link so if you end up signing up as a result, both you and I get £5 in our accounts! It’s important to note that this session of the podcast is not sponsored by GoHenry – I approached them because I think they’re doing a great thing and deserve to get some coverage for it…

Don’t forget, for a full transcript, you can just hit the button below.

My questions for Louise Hill

• Can you give us a brief bio – your background and how you came to be doing what you're doing?
• What was the thinking behind establishing GoHenry?
• What do you think is the benefit of kids getting hands-on with money, rather than having everything done for them?
• Is learning by doing better than by observation?
• Do you think pocket money is a good idea, or should children be rewarded for tasks completed? Or both?
• You talk on the website about today's kids being taught better money lessons than we were. Do you have a money story from your own childhood that formed your own habits?
• How can parents best arm their kids to have a healthy attitude towards money?
• Are there any things which parents should avoid?
• Can you tell us a little bit about how GoHenry works?
• How can listeners find out more about GoHenry?

 Summary

I love the fact that GoHenry is embracing modern technology to teach kids about money in a way which they will need to understand in this world of iTunes, Amazon and X-Box Live. Cash is no good in that world and yet we seem to assume that cash is all our kids are able to understand. I’m looking forward to watching how my daughter Ellie will use her card, but looking forward less to the conversations about spending limits!

Again, if you want to find out more about GoHenry, go to meaningfulmoney.tv/gohenry where if you sign up, we both get £5 credited to our accounts. Thanks again to Louise Hill for agreeing to be interviewed for this session.

Resources and Links

Session 26 – Teaching Children About Money

Reviews

My thanks to thgreenpint and Jonnysk8er for their reviews this week!

Next Session Announcement

Next time is Session 100! I’ll keep what’s coming next week as a surprise, but look out for it, it’s gonna be fun!

If you have a question on this subject, or any other financial query that you want answering here on the show, then the best way to do that is to leave me a voicemail at meaningfulmoney.tv/askpete