I often hear my kids say, “What a blast,” even when I offer them pocket money. Instead of continuing to give small amounts for each request, I prefer to opt for what has always been considered an excellent type of financial education for young people. My doubts focus only on the amount to be allocated: 5 or 10 euros per week? I found the answer on the internet, of course it depends on age. There are tables starting from 1.50 euros per week for 4-year-olds and going up to 50 euros per month for 16-year-olds. After determining the amount, I send them the money with the banknotes in my hand, but I hear that hate speech being said once again. But this time I agree with him: who knew there were apps for that too?

They explained to me that all I had to do to get the money to them was to make a bank transfer or link my credit card to an app on my mobile phone. By skipping the cash, even if they were all underage. The rest is “easy”, they will pay the bill with their smartphones both in restaurants and stores. But considering that these payment applications are usually associated with a virtual card with IBAN, they will also be able to make online purchases. It’s convenient, I can give them pocket money whenever I want, and thanks to real-time credit, I can also cover their numerous “emergencies”. They’re like, “I saw a pair of designer jeans that drove me crazy” or “I’m quitting eating sushi with friends.” To teach them that money doesn’t just magically appear out of nowhere, any extra expenses in my household have to be covered by additional chores.

But it is better to learn about these applications first. I discovered that some people complain about high loading costs (almost one euro per money transfer), while others complain about an almost complete lack of help. It’s hard to talk to a real operator on the phone, while by email they “always reply with the same text and copy and paste”. But there are also those who talk about days of inefficiency, the impossibility of using their money and the withdrawal of unfair amounts, small or large, which they can never get back later (one of many reviews in the photo below). In short, these applications, which boast of being secure but above all of being smarter and simpler than traditional banks, do not always keep their promises.

There are many negative comments, but there are also people who say they feel good. I will carefully consider the pros and cons of each offer before choosing, but one thing is for sure: I will never return home to my children with cash.

I believe pocket money is an excellent tool for teaching children to use money responsibly. 80 percent of European children receive an allowance, and 60 percent of them manage to save some money every week. Therefore, making teenagers and very young people understand the value of money is an excellent way to make them responsible and at the same time independent. But I also believe something else: considering that there is talk of a cashless Italy by 2050, I believe it is right to get them used to electronic payments as soon as possible. So whether it is a physical or virtual prepaid card, I will have to adapt to the mobile card. money 2.0.