The re-opening of non-essential shops will be welcome news to many, particularly for those savvy savers who have been steadily building their savings during lockdown.
However, the return to the high-street will certainly bring a fresh batch of challenges for concerned parents, as children start exploring, spending, and re-engaging with the public over the summer. After all, with physical cash now a transmission risk cashless payments will rule the financial roost, though this could risk children losing sight of the real value of every tap or swipe.
With it being almost three months since their favourite shops first closed their doors, now may well be the time to provide a quick reminder of how to spend both safely and sensibly in the shops. That’s why we wanted to share a few of our top tips for safe in-store spending, to get your kids applying the important lessons they’ve learnt during lockdown to real-life scenarios.
Going on a cash hiatus
Given the current climate and the hygienic worries arising from the handling of coins and notes, as children head back out to the shops it is advisable – wherever possible – that they refrain from handling any form of cash. Providing they do so safely and responsibly, opting for contactless payments is a sure-fire way of reducing the risk of transferring germs and will help you keep some piece of mind whilst your little ones hit the shops.
And, of course, wash your hands as soon as you get home!
The non-virtual word of contactless payments
Whilst contactless payments are the best way to remain germ-free when shopping, it’s all too easy for kids to get swept up by the excitement of one-tap purchases without pausing to consider how these can add up. To remind kids that money is more than a intangible, virtual entity, and ensure they keep track of their in-store spending, why not encourage them to jot down a list of their high-street purchases? The nimbl app will always keep a record of their spending but making a second copy of their purchases does no harm and offers a swift reminder of the need to spend both sensibly and responsibly.
Avoiding a spending splurge
If your child has been lending a helping hand around the house during lockdown to help grow their pocket money pot, they might be tempted to be a little extravagant with their money this week. Whilst encouraging children to put money aside to go towards a long-desired product offers a great incentive to get them saving, it’s equally important these savings don’t get blown in one single shopping spree. As a general rule of thumb, kids should aim to spend no more than 75% of their pocket money allowance in any one month.
Are your children heading back to the high street this week? Please feel free to get in touch with any advice you have on safe spending post-lockdown!