Wednesday, 13 February 2013

PKTMNY: An update

We've been registered with PKTMNY (the online pocket money website) for a few months now, so I'm posting an update, to let you know what my children and I think.

Not surprisingly, 14 year old Miss O loves having her own Visa card as she feels more in control of her own money and spending. Having her own debit card is a big responsibility, but she now knows just how important it is to keep her PIN number private (and how not save it as pin on her mobile phone!). She also understands that she just needs to tell me if she loses, or misplaces the card, as I can put a temporary stop on the card straight away. 

She’s enjoyed using the card to buy clothes with her pocket money, and I now know that by the time she has her own bank debit card, she'll know how to look after it and use it responsibly. She has definitely been more keen to do her set chores, knowing that the money for these will go straight into her PTKMNY account and will be ready to spend next time she goes shopping!

11 year old Miss Kahonie has always been a good saver and only spends her cash on things she really wants, so she hasn't used her VISA card yet. However, as she’s starting to become interested in fashion (and shopping) and has recently been asking to go shopping with her friends in town, I think she’ll be ready to test it out pretty soon!

Overall, I like the idea of the PKTMNY service, especially to encourage tweens and teenagers to do chores around the house and to give them experience in dealing with their own debit card and online 'banking' a few years before they are old enough to open their own real bank accounts.

Sponsored post: This post is part of a project with BritMums, sponsored by PKTMNY, highlighting its launch. The new tool allows parents to easily pay and monitor their children's pocket money online, whilst allowing their children to earn, save, spend and manage their money in a totally safe and fun way. We have been trialing the service and all thoughts and opinions are our own.
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