New Feature: Teach your child to become an investor using Pocket Pal

 

 
   

 

       


  Pocket Pal Rate Card
The parents become the employer and complete a rate card listing all jobs that can be done for a set amount of money - pocket money. Put this on the fridge.
 

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Work out how much you want to pay each week in total then allocate an amount to each job so that they all ad up to that amount.

     


  Pocket Pal Job Card
The child completes these jobs daily and enters them onto the job card, it is here that they pay tax to the parents of 10% on their income.
 

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The total amount at the end of the week is where you as Taxman deduct 10% in Tax.

   


  Pocket Pal Insurance Policy
The child completes the income protection policy and pays 5% of their income to Mum and Dad. If the child is unable to do their jobs one week due to sickness or accident then the parents will pay them what they earned last week.
 

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The insurance contract allows Mum and Dad to be the first person that child has a contract with. One day the child will sign a real contract and remember your words - read before you sign.

   
  Pocket Pal Cheque Book
The child's income is transferred into their own chequebook with Mum and Dad being the bank. Here they learn to budget and balance their money. They give Mum or Dad a cheque for the amount they want.
 

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Do Pocket Pal on a Sunday and the money will last all week. Do Pocket Pal on a Friday and the money will be gone by the weekend.

   


  Pocket Pal Savings Book
Save first spend later, we need to teach the child to save 10% of everything they earn. Doing this throughout their life will give them the very best habits for financial independence. The savings book is used every pay day.
 

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The best money habit we can give to our child is to save 10% of everything the earn or receive. That includes Birthday money or Christmas money.

   


  Pocket Pal Credit Card
Once bitten twice shy, your child will one day have a credit card. Let them use one now and know that they can bite. Credit is wonderful if you control it and not it controls you.
 

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Every child will use a credit card one day. it is best for them to use one when Mum and Dad are their bank managers.

     
  Pocket Pal Parents Guide
A comprehensive step by step guide showing the parents how to get the most from Pocket Pal

 

 

 

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