July 4, 2025 • 23 mins
Talking about money with kids can feel awkward, but it matters more than most parents realise. In this episode, Dr Justin Coulson is joined by Yish Koh, Managing Director of Kit – a pocket money app by the Commonwealth Bank. Together, they unpack how to teach kids under 10 the foundations of money management. From delayed gratification to understanding digital money, this is a must-listen for any parent wanting their kids to grow up financially savvy.
KEY POINTS:
- Kids learn most about money from parents, not schools.
- Conversations, role modelling, and real-life experiences build financial literacy.
- Key lessons for kids under 10: saving, understanding interest, delaying gratification, and learning how earning works.
- Use cash with younger kids to make money tangible, but transition to digital tools as they grow.
- Pocket money works best when it’s regular, not random. Automation can help teach saving and spending habits without the parent constantly managing it.
- The average pocket money for 8–10-year-olds is $7.30 per week, but the amount matters less than the learning opportunity it provides.
- Use money conversations to teach kids about choices, consequences, and even charity.
QUOTE OF THE EPISODE: “Being good at money isn’t about having lots of money. It’s about using money as a tool to live the life you want.”
RESOURCES MENTIONED:
- Hey Kit – a pocket money app and card for kids (by Commonwealth Bank)
- Moneysmart.gov.au—Australian Government financial literacy tools for families
ACTION STEPS FOR PARENTS:
- Start talking about money early—age 5 and up.
- Model good money behaviours—saving, budgeting, and mindful spending.
- Use pocket money (even small amounts) to teach saving, spending, and giving.
- Make money visible: show account balances before and after spending to teach the concept in a digital world.
- Link money to goals—whether it's saving for a toy, a holiday, or something bigger.
- Don’t shut down questions about money—turn them into meaningful conversations.
See omnystudio.com/listener for privacy information.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
If you're looking for ways to encourage your kids to
learn about saving and smart spending, check out Kit, a
pocket money app and card built by Combank. It teaches
kids about earning money through chores and saving in buckets
or what Kit calls stacks. Kit is free for eligible
Combank Yellow customers, t's and C supply, or just fifty
(00:23):
dollars a year for up to five children. Download the
app or visit haykit dot com dot Au. You can
also download Kit's free pocket Money one O one guide
from the Kit website at Heykit dot com dot Au.
TMD available on the website. Consider it appropriate for you?
Speaker 2 (00:42):
How do we talk about money with our children? This matters.
Speaker 1 (00:46):
I've observed something over the last several years. I spent
a lot of time with people who have got a
lot of money. I spend a lot of time with
people who have no money. I'm one of those people
who's kind of in the middle. I've got enough for
my needs, but not nearly enough for my wants. Today,
we're packing conversations with kids about money. Welcome to the
Happy Families Podcast, Real parenting solutions every day on Australia's
(01:07):
most downloaded parenting podcast.
Speaker 2 (01:09):
Today, I'm joined by Ish co Ish is.
Speaker 1 (01:12):
The founder and Managing Director of the Commonwealth Bank of Australia.
Is Kit Kit is a pocket money app and card
that teaches kids about money. Kit really really glad that
you've joined me for this chat. We're going to focus
on under tens today, although I think some of these
principles will be applicable across the board. Ish, let me
ask you this first question. Would you agree with me?
Do you think that some people are talking about money
(01:33):
a lot and some people are not talking about money
at all with their kids.
Speaker 3 (01:36):
Research shows that's a really well known correlation between how
well off a family is and how good their kids
are at money. And that tends to be because people
who have more money have more resources and time. They
also tend to have high financial literacy themselves. And when
they have high financial literacy, they can pass that on
to their kids. But I think, you know, it's a
(01:58):
big taboo in our society to talk about money sometimes.
So you know, people say, you know, your kid might
ask you or how much do you earn? You're like,
oh my god, like you know why you asking this?
Speaker 4 (02:07):
You can't ask this? This is embarrassing.
Speaker 3 (02:09):
But actually a lot of those conversations and understanding your
kid's curiosity. Kids are naturally curious, they want to learn
about money, and engaging your kids in that conversation is
actually how kids learn about money. A lot of people
will talk about the role of schools being really important,
which definitely has a role to play, But if you
think about what are your key influencers, seventy percent of
(02:30):
kids say their parents are their key influence, and that
mechanism is typically through the conversations that you're having, but
also the role modeling and how you behave you're going
to the shops, you're buying something, what are they seeing you?
Speaker 4 (02:40):
Role modeling.
Speaker 3 (02:41):
These are all the things that actually build their attitudes
and their experiences of money, which is much more important.
Speaker 2 (02:48):
This is really interesting.
Speaker 1 (02:49):
I saw a real just recently on social media, and
it was one of those hardcore entrepreneur guys. So what
I'm going to say is highly provocative, not suggesting that
this is what I believe, just what this guy said.
Speaker 2 (03:00):
He basically said, I.
Speaker 1 (03:00):
Don't want the school teaching my kids about money.
Speaker 2 (03:02):
That's my job.
Speaker 1 (03:03):
I mean, this guy's worth one hundred million, two hundred
million dollars something ridiculous like that, But he basically said,
teachers don't know anything about money, they don't have any
I'm the one with the money, and I want to
teach my kids about that. Now, potentially offensive, potentially very provocative,
but I guess when you bring this up and tied
in with what I said at the start, it kind
of My experience has been the people that I know
who are extremely well off, they obsess about money. They
(03:24):
say things like, yeah, I don't really think about money
that much, and I'm like, that's just a lie.
Speaker 2 (03:29):
You think about and talk about money all the time.
Speaker 1 (03:32):
I guarantee they're in their finances constantly, and I don't
know what they're saying when the kids say how much.
Speaker 2 (03:36):
Money do you earn? Mum or Dad?
Speaker 1 (03:38):
But I reckon they're saying I earn enough, I earn plenty,
which is very different to many other conversations. What do
you think that kids need to know? Like I think
about what this Dan Martel, entrepreneur, social media guru guy
is saying, and clearly he thinks that his kids need
to know something about money that the school can't teach them.
Speaker 2 (03:57):
What do you reckon?
Speaker 1 (03:58):
As you've looked at all of your data, what do
you think that kids actually need to know about it?
Speaker 3 (04:04):
So, firstly, I want to say, like this entrepreneur is
kind of a symbol of why a lot of parents
feel so not confident about talking to the kids about money,
that kind of stereotype of I have lots of money,
therefore I know. So therefore if you don't have lots
of money, then you don't know, and therefore you shouldn't
which is actually the deposite what your kid. First, the
(04:24):
first thing that you as a parent, regardless of how
confident you feel about money yourself, is that they need
to believe that they can be good at money. You
don't have to be like a pro investor in the
stock market to be good at money, right, And this
is part of the challenge that being good at money
isn't about having lots of money. It's about being able
to use money as a tool to get what you
(04:46):
want in life. So it's about managing your money in
line with what you want to achieve and not being
a slave to money necessarily.
Speaker 2 (04:52):
I don't know how to describe how I felt when
I saw it.
Speaker 1 (04:54):
I mean, part of it, these things are always that
little bit sort of inspiring they're supposed to get your parts,
and at the same time, I was just thinking, how arrogant,
how just I don't actually have the words, but yeah,
I'm just it. Really it really got onto my skin.
So in terms of what kids need to know, what
you're saying is they need to understand that money has
(05:15):
value and that it helps them to get things in
life that matter. And then it, I guess it comes.
Speaker 3 (05:19):
Down they need to believe the self belief, so only
a parent can really teach it. So they need to
believe that they can do it and that they can
manage money. Then more concretely, those specific lessons around and
this can start from the age of sort of five
to seven. It's like understanding that saving money is good
understanding when you get to sort of eight intent understanding
what interest is that if you save money, you're going
(05:40):
to get paid money, and LifeWise, if you borrow money,
you're going to be paying even more money because they
are paying interest on the money you borrow. They need
to understand delayed gratification for parents is a really big
skill that's important. So that's the ability to not spend
on your money straight away, but to be able to
reflect and think is this really what I want?
Speaker 4 (05:59):
Maybe not, and I can.
Speaker 3 (06:00):
Wait to buy something later or buy something else that
I want even more. And then it's also really important
that they understand earning. So like from a five to
seven year age range, it's knowing that people are going
to work to earn money.
Speaker 4 (06:11):
Most people earn money by working.
Speaker 3 (06:14):
But then as they get sort of to the eight
to ten range, then it's they might identify them multiple
different ways that they could make money. Some of it
maybe not totally realistic, some of it might be. But
then also that understanding of people have different levels of income,
different circumstances, and why different people make different financial decisions,
but also the importance of charity and helping out others.
Speaker 1 (06:35):
I love this so the delay gratification, saving, understanding how
interest works both for you and against you, and also
working out how earning money works. I just love the
late gratification thing. I remember when I was a kid,
I'd get my pocket money and I would just go
straight to the touch shop and spend it all on food,
(06:56):
or I would go down to the arcade and spend
it all on video game. That was that was it,
and no one was talking to me about what I'm
supposed to do with my money. Literally, it was just
cash in my pocket and it burned a hole through
it gone just like that.
Speaker 2 (07:11):
So do you reckon that?
Speaker 1 (07:12):
It's the Dan Martell's of the world. It's these entrepreneurial
big noting themselves, people with lots of money that stop
parents talking to their kids about money.
Speaker 2 (07:22):
And if yes, what else.
Speaker 1 (07:24):
Is there other than the social media shame of thinking, oh,
my goodness, I'm not literate and rich like that guy,
so therefore I shouldn't talk about it.
Speaker 3 (07:32):
I think he is part of the problem that he's
kind of compounding that shame on parents.
Speaker 4 (07:35):
It's like as if parents don't have enough guilt already,
hits adding on to that.
Speaker 3 (07:40):
So I think the best thing advice I can give
for parents who want to build their confidence and become
better at having these conversations with their kids is firstly,
if you're not sure, look it up yourself. So taking
some small steps a few You know, some adults are
also exactly sort of similar to what you said and
you were as a kid. You know, they get their
paycheck and living page to paycheck because they just have
(08:01):
to pay everything on the bills, and then maybe it's
a little bit of like the uber eats habit is
too much. So if that's you, there's lots of resources
out there, like the government has the money smart resources,
et cetera. Just start educating yourself. Because if you start
educating yourself and understanding the importance saving and doing that,
that helps you then do it with your kid and
it can be you know, a joint learning journey as
(08:21):
a family. And I know you talk a lot justin
about connection with your kids, and money is another way
that you can do that. So you know, if you
want to plan a holiday with your family, you can
talk to your kids about, oh, we're all going on
a holiday. You know, what would you like to buy
when you're a holiday and I'm going to save up
this for the holiday. Why don't you think about what
you can save so that you can buy this thing
that you won your holiday. And then you're both building
(08:41):
your money skills together and you're doing it in a
really positive way.
Speaker 2 (08:44):
Just recently, I was hanging. I wasn't recently. It was
a few months ago.
Speaker 1 (08:47):
Our family was in your South Wales when the East
Show was on and we said to the kids, let's
get some dollars together, let's get saving so that you
can afford to buy the show bags that are important
to you a little bit later this year, for my fiftieth,
we're going to be going away as a big family holiday,
and we've said to the kids, we're.
Speaker 2 (09:03):
Paying for the flights, we're paying for the.
Speaker 1 (09:05):
Accommodation, we're paying for the bulk of the activity that
we're doing. But there's a day and a half spare
when we have this holiday where we can do some
other stuff not paying for that. If you want to
do some stuff, you've got to start saving now so
that in November you can afford it. So again it
comes back to those principles that you've just shared around
the delayed gratification, knowing how to model it and go
(09:26):
through the experience together. We're saving up for it, just
like they are. These are the kinds of things where
I hear you talk and I'm like, oh, yeah, okay,
I'm getting some stuff.
Speaker 2 (09:34):
Right, because I'm getting a lot of stuff wrong as well.
Speaker 1 (09:42):
It can be helpful for kids to learn the basics
of how finances work, especially in this digital age of
invisible money. Kit is a pocket money app and card
built by Combank. It helps kids learn about money through earning, saving,
and spending pocket Money, as well by playing fun games
and quizzes.
Speaker 2 (10:02):
Kit is free for.
Speaker 1 (10:03):
Eligible CommBank Yellow customers, T's and C supply, or just
fifty dollars a year for up to five children. Download
the app or visit haykit dot com dot a U.
You can also download kits Free Pocket Money one O
one guide from the kit website at Heykit dot com
dot AU TMD available on the website. Consider it appropriate
for you is a tricky.
Speaker 2 (10:25):
Question for me.
Speaker 1 (10:28):
Money like, money's all online now, it's all symbols, it's
all code. You open up the app, and that's when
you see the money that you've got.
Speaker 2 (10:36):
You tap your card.
Speaker 1 (10:37):
Or whatever, and the money sort of goes from one
place to another place.
Speaker 2 (10:42):
When I was growing up, you've got to hold it.
It was tangible.
Speaker 1 (10:45):
You could save it in your piggy bank and go
into the bank and put it in the deposit and
all that sort of thing. We just don't do that anymore.
If cash is disappearing, how do you teach the value
of money? Since we can't do it the are we
used to.
Speaker 4 (11:01):
So cash becoming digital is a real challenge for kids.
Speaker 3 (11:05):
Particularly the younger kids, because they don't money is an
abstract concept, the idea that you have this thing that
you receive and then you hand over in.
Speaker 4 (11:14):
Order to buy something.
Speaker 3 (11:16):
It's a really tricky concept, and so for very young kids,
I would still advise, even though we rarely see it anymore,
with using cash, for young, very young kids, like around
the age of five, using cash is still important just
so that they can understand that he's a thing you transfer,
there's some source of value in order to buy things.
But we very quickly realize, and you know, even for
(11:38):
a very young age I had when my kid was three,
he was already tapping a card and realizing that you
need to tap something to be able to unbuy something.
So very quickly they realize that purchases can also happen online.
So my advice there is to there's no consequence when
you are tapping a card, so when you hand over cash,
there's actually a pain signal in your brain that says
you're actually losing something and you're giving something away. That
(12:01):
response is really muted when you're just tapping something because you're.
Speaker 4 (12:04):
Like, oh, I can just tap ha ha I get stuff.
Speaker 3 (12:06):
So what you need to do is to try and
recreate that feeling of actually, when I'm paying for something,
I'm losing something. So what you can do in a
digital context, for example, is show the balance, So before
your child is your child has a card, or even
if you're making a payment, show them the balance, make
the payment, show them the balance after and say I
had something and now I've spent this money and I
(12:27):
don't have it anymore.
Speaker 4 (12:28):
So you're recreating that feeling.
Speaker 3 (12:30):
The other thing you can do is let them experience
the consequences for themselves. So I know a lot of
kids in from quite a young age of paying online games,
and often that's linked to your parents credit card, which
can seem like a bit of an unlimited source of
money that's just.
Speaker 4 (12:46):
Only limited by your ability to say no.
Speaker 3 (12:49):
But what you can do, for example, is if they
have their own card, for example, you can just put
unlimited amount and that's so poper money, so actually spending
their own money on their game. And so when they're
spending their own money, they're going to realize really quickly
that it runs out and that there were real consequences
that if they have zero, that there's no more purchases happening.
So that then helps you give that link between payment
(13:12):
and consequence.
Speaker 2 (13:13):
Yeah, this really fits.
Speaker 1 (13:15):
We recently decided that we were going to start doing
our fruit and veggie shopping at the local market on
the weekends, and we thought we'll take cash along instead
of tapping the card. And it's really I forgot what
it feels like to have money in your pocket and
then not have money in your pocket, and it's like, Wow,
we just spent that much money, whereas if we were
(13:36):
tapping a card, we're not going to have. We're going
to have, like you said, a much more muted experience
of the spend ish. Let me ask you just a
general question about pocket money. So maybe it's because I've
got six kids and I'm just over paying pocket money.
But I can't be bothered with pocket money anymore. I
don't give the kids pocket money. I basically say to them,
(13:57):
if you need something, I'll think about maybe giving you
the money for it. We won't, And when you're old enough,
go get a job and pay for your own stuff.
Like I'm just I'm a bit over pocket money. We
used to be so diligent when our kids were younger,
our eldest kids were young, we were so good with
pocket money. I have two questions. It's a double barreled question.
First question is this our family is still giving kids
(14:17):
pocket money? And second question how much?
Speaker 3 (14:22):
Oh?
Speaker 4 (14:22):
Great questions?
Speaker 3 (14:24):
Justin so so he chows about seven and ten parents
are giving pocket money.
Speaker 4 (14:31):
Money means different things to different people.
Speaker 2 (14:33):
Yeah, but what you're saying is I'm being a slight parent.
That's what I'm hearing.
Speaker 3 (14:36):
No, every family is different, right, So for some, you know,
some families, pocket money is you know, I want to
go out with my friends. Here is twenty bucks, thirty bucks,
and that's pocket money. But for others, it's that regular
cadence of every week I'm going to give you, you know,
five dollars. I will say that the literature does say
the best way to build financial literacy in kids is
(14:57):
to give them a regular source of money and to
allow them to make those decisions in saving and spending,
and that you provide that parental guid and it's around
saving money and you and how they think about spending.
If you find it really difficult, like sixy I have
no idea how you do it.
Speaker 4 (15:14):
I would never be able to manage six kids myself.
Speaker 3 (15:16):
So I totally understand that it's really difficult to remember,
you know, every week to be able to, like, especially
if you're doing it in cash. There are digital ways
to do it online where you can just set and forget.
So at kid, for example, you can set up chores
and get pocket money. You can actually set up automatic
splitting for your kids, so you can say, when you
get pocket money, always remember geting a savings habit, so
(15:36):
you know, part of it's going to go into your
savings account, that's going to warn interest, part of it's
going to go onto a card and have that conversation.
But then you as a parent can kind of be
hands off and be like, okay, set and forget, but
then you can have those conversations when.
Speaker 1 (15:49):
They think about yeah, hands off. So essentially what you're
saying is digitally you can you can literally set it
up so that they get their five all to ten
bucks a week and it goes in and they're pre
committed because you've had the conversation with them that they're
going to save this percentage and they're going to have
this much for spending. But it's all happening automatically. It
doesn't even need willpower, right, Like you're setting up ahead
(16:10):
of time.
Speaker 3 (16:11):
Yes, absolutely, so about sitting them up for success, right,
Like you can't expect an eight year old to remember
every single week to be able to transfer some of
their pocket money into a savings.
Speaker 4 (16:18):
Account, Like it's just too difficult.
Speaker 3 (16:20):
Right. But what's more important is that you, as the parent,
have had the conversation about why you're doing. They understand
why it's good to have that savings automation. I know
you also second part of your question was.
Speaker 4 (16:29):
Around how much, So I will say these are averages.
Speaker 3 (16:33):
So every family is different, Every situation is different, what
kids are expected to be responsible for it.
Speaker 4 (16:37):
The pocket money is also different.
Speaker 3 (16:39):
So don't feel that this is if there was any
children listening and you don't get paid this amount, don't
feel like this is licensed.
Speaker 4 (16:46):
Tell your parents that this is how much you should
be paid.
Speaker 1 (16:48):
So well, before you even tell me cost of living
cost of living, have you got any data about how
cost of living crisis has affected pocket money?
Speaker 3 (16:56):
We absolutely have so No the last about two years ago,
we saw that kids pocket money was decreasing and that's
probably a reflection of the cost of living crisis that
some parents saying, you know, we've got to cut back
in pocket money is one of those areas that they
have been cutting back.
Speaker 4 (17:12):
But in the last sort of six.
Speaker 3 (17:14):
Months or so, we've seen the amounts actually start to
climb back up to where they were around in sort
of twenty twenty two.
Speaker 4 (17:21):
So here the numbers dropping them.
Speaker 3 (17:23):
So on age of five to seven, the average is
six dollars eighty age of eight to ten, the average
is seven dollars. Thirty eleven to thirteen averages ten dollars,
and this is per week, and fourteen to seventeen it's
fourteen dollars twenty So some families are still using there's
a rule of thumb that you can use, which is
one dollar per year of age of the child.
Speaker 4 (17:43):
So a five year old would get five dollars a week.
Six you'll get six dollars a week. I will say
that's before.
Speaker 3 (17:47):
The current sort of period of inflation, so that rule
hasn't necessarily been adjusted. But what's most important here is
the amount doesn't matter so much as sort of what
it represents to your child. So it shouldn't be so
much that they could just whatever they want. It shouldn't
be so little that they look at it and say,
there's just no way I can buy anything. But it
needs to be enough to kind of say, Okay, maybe
(18:08):
I can buy some things for myself, but if I
can save up, then I can buy something else I
want for myself. So it needs to make them make
a trade off between spending and saying. But it also
needs to be something that obviously fits into your household budget.
So sometimes what I advise to people who can't afford
pocket money is to actually allocate a part of your
family budget to the pocket money. So, for example, you
(18:31):
want afternoon tea at school, so tell your kids you
are responsible for what you have for afternoon tea at school,
and we're going to go to the supermarket. And you
have a budget of ten dollars a week because then
and you can keep whatever whatever's left over, so you're chucking.
Then go to the supermarket and say, hey, do wan
want the really expensive chips. I get afternoon tia only
two days out of the week, and I go go hungry,
but the other three days.
Speaker 4 (18:51):
Don't let you kids so hungry. Please don't let them
always make sure they meet their knees.
Speaker 3 (18:55):
But maybe they might then go really cheap scape their hair,
really want that, Pope, come on, card to thirty dollars.
I'm happy to just like buy the home brand of
like the Space sticks and go with that for three
weeks so I can buy something else, So then that
doesn't sort of add to your household cost, but it
still gives them the ability to make those spending and
saving decisions.
Speaker 1 (19:15):
Okay, here's my summary of the conversation. If I want
to have better conversations with my children about money, number one,
I've actually got to prioritize it and recognize that there's
value in teaching them about money and how it works.
And it seems based on this discussion that they're going
to they're going to be open to it from about
the age of five or six, but they'll really start
to kick into gear from around seven eight nine, which
is about the same time they're learning about maths and
(19:36):
getting those those ideas in their heads from school. The
second thing that I'm picking up is that they need
to understand savings, interest and delayed gratification so that they
can both spend but also save and ideally go and
do some earning. And the last thing that I'm really
(19:56):
hearing you say is that for kids to understand the
value of money, we've got to be open about it.
We've got to be willing to share what's working and
what's not and bring them into conversations around it.
Speaker 3 (20:10):
Absolutely picky nail that Justina and I think, particularly around
being open with them, sort of going.
Speaker 4 (20:16):
Back to that story of you know, how much do
you earn? How much does a house cost?
Speaker 3 (20:19):
I think it's really important that you know, kids are
naturally curious and that we don't shut down that curiosity
because often there's there's a different question that's actually being
asked and the one they're actually asking, because how much
you earn might be a curiosity about, you know, how
is it that you make a living? Like you know,
the how much is a house cost? Is will I
be able to afford a house in the future, or
(20:40):
maybe it's a question of why does my friend have
a house? That you know, they're comparing themselves to others, So,
you know, rather than shutting them down, it's sort of
think about what's the conversation that they really want to
be having with you?
Speaker 2 (20:50):
Did you tell your kids how much you want?
Speaker 4 (20:52):
He's not old.
Speaker 3 (20:53):
Enough yet, but he does think that he's that his
father is extremely rich because he had to replace our
air conditioner recently winning.
Speaker 4 (21:01):
But oh no.
Speaker 3 (21:02):
My winning money moment though, was he came up to
me and he said, Mom, I want this toy for
my birthday, but it's okay, we can wait for sale.
Speaker 4 (21:11):
And that for me, yeah, and this is five, So
that for me was like a win.
Speaker 3 (21:15):
And I think, yeah, a lot of your attitudes they
regardless whether you're having conversations my money, Like your kids
are learning. So if you don't have if you don't
have that conversation with them, they are learning anyway. So
you know, I'm a notorious chiefs gain and obviously it's
already rubbing off of my five year olds.
Speaker 1 (21:29):
So I'm just thinking about my conversations with my kids
about money. They hear me complain about money a lot
and how much I'm spending. They hear me complaining about
the tax office a lot and how much the taxman takes.
But I don't know. I mean, my kids have no
idea how much income we have. They just know a
lot about our spendings. And this conversation is make me
(21:51):
think that I need to sit down and have some
more financial chats. We have chats every Sunday in our family.
Maybe maybe tomorrow's chat is one of those. Is the
managing director of CBA's Kit, a pocket money app and
card that teaches kids about money. It's been really good
to have this chat with you. You've really provoked a
lot of thoughts for me in ways that are much
(22:12):
more helpful than those social media entrepreneurs that make everyone
feel guilty about not having enough cash.
Speaker 4 (22:19):
Who wants to be there? That's not money goals.
Speaker 3 (22:21):
Money goals is are living your life the way you
want to live it, and money is a tool.
Speaker 4 (22:25):
To get there.
Speaker 2 (22:26):
Yeah, really appreciate the chat. Thanks so much for your time.
Speaker 4 (22:28):
Thanks Justin.
Speaker 1 (22:29):
The Happy Family podcast is produced by Justin ruland from
a Bridge Media Mim Hammonds provides additional admin and research support.
If you'd like more information about making your family happier,
find it at happy families dot com.
Speaker 2 (22:41):
Dot au.
Speaker 1 (22:47):
Kit is a pocket money app and card built by Combank.
Kit helps kids learn all about money, from earning, saving,
and spending their pocket money through to learning about money
by taking quizzes and play fun games. It's guilt free
screen time that helps them develop financial confidence. Kit is
free for eligible Combank Yellow customers, t's and c supply
(23:10):
or just fifty dollars a year for up to five children.
Download the app or visit haykit dot com dot a U.
You can also download Kit's free Pocket Money one oh
one guide from the Kit website at heykit dot com
dot AU TMD available on the website.
Speaker 2 (23:25):
Consider it appropriate for you.
If you're looking for ways to encourage your kids to
learn about saving and smart spending, check out Kit, a
pocket money app and card built by Combank. It teaches
kids about earning money through chores and saving in buckets
or what Kit calls stacks. Kit is free for eligible
Combank Yellow customers, t's and C supply, or just fifty
(00:23):
dollars a year for up to five children. Download the
app or visit haykit dot com dot Au. You can
also download Kit's free pocket Money one O one guide
from the Kit website at Heykit dot com dot Au.
TMD available on the website. Consider it appropriate for you?
Speaker 2 (00:42):
How do we talk about money with our children? This matters.
Speaker 1 (00:46):
I've observed something over the last several years. I spent
a lot of time with people who have got a
lot of money. I spend a lot of time with
people who have no money. I'm one of those people
who's kind of in the middle. I've got enough for
my needs, but not nearly enough for my wants. Today,
we're packing conversations with kids about money. Welcome to the
Happy Families Podcast, Real parenting solutions every day on Australia's
(01:07):
most downloaded parenting podcast.
Speaker 2 (01:09):
Today, I'm joined by Ish co Ish is.
Speaker 1 (01:12):
The founder and Managing Director of the Commonwealth Bank of Australia.
Is Kit Kit is a pocket money app and card
that teaches kids about money. Kit really really glad that
you've joined me for this chat. We're going to focus
on under tens today, although I think some of these
principles will be applicable across the board. Ish, let me
ask you this first question. Would you agree with me?
Do you think that some people are talking about money
(01:33):
a lot and some people are not talking about money
at all with their kids.
Speaker 3 (01:36):
Research shows that's a really well known correlation between how
well off a family is and how good their kids
are at money. And that tends to be because people
who have more money have more resources and time. They
also tend to have high financial literacy themselves. And when
they have high financial literacy, they can pass that on
to their kids. But I think, you know, it's a
(01:58):
big taboo in our society to talk about money sometimes.
So you know, people say, you know, your kid might
ask you or how much do you earn? You're like,
oh my god, like you know why you asking this?
Speaker 4 (02:07):
You can't ask this? This is embarrassing.
Speaker 3 (02:09):
But actually a lot of those conversations and understanding your
kid's curiosity. Kids are naturally curious, they want to learn
about money, and engaging your kids in that conversation is
actually how kids learn about money. A lot of people
will talk about the role of schools being really important,
which definitely has a role to play, But if you
think about what are your key influencers, seventy percent of
(02:30):
kids say their parents are their key influence, and that
mechanism is typically through the conversations that you're having, but
also the role modeling and how you behave you're going
to the shops, you're buying something, what are they seeing you?
Speaker 4 (02:40):
Role modeling.
Speaker 3 (02:41):
These are all the things that actually build their attitudes
and their experiences of money, which is much more important.
Speaker 2 (02:48):
This is really interesting.
Speaker 1 (02:49):
I saw a real just recently on social media, and
it was one of those hardcore entrepreneur guys. So what
I'm going to say is highly provocative, not suggesting that
this is what I believe, just what this guy said.
Speaker 2 (03:00):
He basically said, I.
Speaker 1 (03:00):
Don't want the school teaching my kids about money.
Speaker 2 (03:02):
That's my job.
Speaker 1 (03:03):
I mean, this guy's worth one hundred million, two hundred
million dollars something ridiculous like that, But he basically said,
teachers don't know anything about money, they don't have any
I'm the one with the money, and I want to
teach my kids about that. Now, potentially offensive, potentially very provocative,
but I guess when you bring this up and tied
in with what I said at the start, it kind
of My experience has been the people that I know
who are extremely well off, they obsess about money. They
(03:24):
say things like, yeah, I don't really think about money
that much, and I'm like, that's just a lie.
Speaker 2 (03:29):
You think about and talk about money all the time.
Speaker 1 (03:32):
I guarantee they're in their finances constantly, and I don't
know what they're saying when the kids say how much.
Speaker 2 (03:36):
Money do you earn? Mum or Dad?
Speaker 1 (03:38):
But I reckon they're saying I earn enough, I earn plenty,
which is very different to many other conversations. What do
you think that kids need to know? Like I think
about what this Dan Martel, entrepreneur, social media guru guy
is saying, and clearly he thinks that his kids need
to know something about money that the school can't teach them.
Speaker 2 (03:57):
What do you reckon?
Speaker 1 (03:58):
As you've looked at all of your data, what do
you think that kids actually need to know about it?
Speaker 3 (04:04):
So, firstly, I want to say, like this entrepreneur is
kind of a symbol of why a lot of parents
feel so not confident about talking to the kids about money,
that kind of stereotype of I have lots of money,
therefore I know. So therefore if you don't have lots
of money, then you don't know, and therefore you shouldn't
which is actually the deposite what your kid. First, the
(04:24):
first thing that you as a parent, regardless of how
confident you feel about money yourself, is that they need
to believe that they can be good at money. You
don't have to be like a pro investor in the
stock market to be good at money, right, And this
is part of the challenge that being good at money
isn't about having lots of money. It's about being able
to use money as a tool to get what you
(04:46):
want in life. So it's about managing your money in
line with what you want to achieve and not being
a slave to money necessarily.
Speaker 2 (04:52):
I don't know how to describe how I felt when
I saw it.
Speaker 1 (04:54):
I mean, part of it, these things are always that
little bit sort of inspiring they're supposed to get your parts,
and at the same time, I was just thinking, how arrogant,
how just I don't actually have the words, but yeah,
I'm just it. Really it really got onto my skin.
So in terms of what kids need to know, what
you're saying is they need to understand that money has
(05:15):
value and that it helps them to get things in
life that matter. And then it, I guess it comes.
Speaker 3 (05:19):
Down they need to believe the self belief, so only
a parent can really teach it. So they need to
believe that they can do it and that they can
manage money. Then more concretely, those specific lessons around and
this can start from the age of sort of five
to seven. It's like understanding that saving money is good
understanding when you get to sort of eight intent understanding
what interest is that if you save money, you're going
(05:40):
to get paid money, and LifeWise, if you borrow money,
you're going to be paying even more money because they
are paying interest on the money you borrow. They need
to understand delayed gratification for parents is a really big
skill that's important. So that's the ability to not spend
on your money straight away, but to be able to
reflect and think is this really what I want?
Speaker 4 (05:59):
Maybe not, and I can.
Speaker 3 (06:00):
Wait to buy something later or buy something else that
I want even more. And then it's also really important
that they understand earning. So like from a five to
seven year age range, it's knowing that people are going
to work to earn money.
Speaker 4 (06:11):
Most people earn money by working.
Speaker 3 (06:14):
But then as they get sort of to the eight
to ten range, then it's they might identify them multiple
different ways that they could make money. Some of it
maybe not totally realistic, some of it might be. But
then also that understanding of people have different levels of income,
different circumstances, and why different people make different financial decisions,
but also the importance of charity and helping out others.
Speaker 1 (06:35):
I love this so the delay gratification, saving, understanding how
interest works both for you and against you, and also
working out how earning money works. I just love the
late gratification thing. I remember when I was a kid,
I'd get my pocket money and I would just go
straight to the touch shop and spend it all on food,
(06:56):
or I would go down to the arcade and spend
it all on video game. That was that was it,
and no one was talking to me about what I'm
supposed to do with my money. Literally, it was just
cash in my pocket and it burned a hole through
it gone just like that.
Speaker 2 (07:11):
So do you reckon that?
Speaker 1 (07:12):
It's the Dan Martell's of the world. It's these entrepreneurial
big noting themselves, people with lots of money that stop
parents talking to their kids about money.
Speaker 2 (07:22):
And if yes, what else.
Speaker 1 (07:24):
Is there other than the social media shame of thinking, oh,
my goodness, I'm not literate and rich like that guy,
so therefore I shouldn't talk about it.
Speaker 3 (07:32):
I think he is part of the problem that he's
kind of compounding that shame on parents.
Speaker 4 (07:35):
It's like as if parents don't have enough guilt already,
hits adding on to that.
Speaker 3 (07:40):
So I think the best thing advice I can give
for parents who want to build their confidence and become
better at having these conversations with their kids is firstly,
if you're not sure, look it up yourself. So taking
some small steps a few You know, some adults are
also exactly sort of similar to what you said and
you were as a kid. You know, they get their
paycheck and living page to paycheck because they just have
(08:01):
to pay everything on the bills, and then maybe it's
a little bit of like the uber eats habit is
too much. So if that's you, there's lots of resources
out there, like the government has the money smart resources,
et cetera. Just start educating yourself. Because if you start
educating yourself and understanding the importance saving and doing that,
that helps you then do it with your kid and
it can be you know, a joint learning journey as
(08:21):
a family. And I know you talk a lot justin
about connection with your kids, and money is another way
that you can do that. So you know, if you
want to plan a holiday with your family, you can
talk to your kids about, oh, we're all going on
a holiday. You know, what would you like to buy
when you're a holiday and I'm going to save up
this for the holiday. Why don't you think about what
you can save so that you can buy this thing
that you won your holiday. And then you're both building
(08:41):
your money skills together and you're doing it in a
really positive way.
Speaker 2 (08:44):
Just recently, I was hanging. I wasn't recently. It was
a few months ago.
Speaker 1 (08:47):
Our family was in your South Wales when the East
Show was on and we said to the kids, let's
get some dollars together, let's get saving so that you
can afford to buy the show bags that are important
to you a little bit later this year, for my fiftieth,
we're going to be going away as a big family holiday,
and we've said to the kids, we're.
Speaker 2 (09:03):
Paying for the flights, we're paying for the.
Speaker 1 (09:05):
Accommodation, we're paying for the bulk of the activity that
we're doing. But there's a day and a half spare
when we have this holiday where we can do some
other stuff not paying for that. If you want to
do some stuff, you've got to start saving now so
that in November you can afford it. So again it
comes back to those principles that you've just shared around
the delayed gratification, knowing how to model it and go
(09:26):
through the experience together. We're saving up for it, just
like they are. These are the kinds of things where
I hear you talk and I'm like, oh, yeah, okay,
I'm getting some stuff.
Speaker 2 (09:34):
Right, because I'm getting a lot of stuff wrong as well.
Speaker 1 (09:42):
It can be helpful for kids to learn the basics
of how finances work, especially in this digital age of
invisible money. Kit is a pocket money app and card
built by Combank. It helps kids learn about money through earning, saving,
and spending pocket Money, as well by playing fun games
and quizzes.
Speaker 2 (10:02):
Kit is free for.
Speaker 1 (10:03):
Eligible CommBank Yellow customers, T's and C supply, or just
fifty dollars a year for up to five children. Download
the app or visit haykit dot com dot a U.
You can also download kits Free Pocket Money one O
one guide from the kit website at Heykit dot com
dot AU TMD available on the website. Consider it appropriate
for you is a tricky.
Speaker 2 (10:25):
Question for me.
Speaker 1 (10:28):
Money like, money's all online now, it's all symbols, it's
all code. You open up the app, and that's when
you see the money that you've got.
Speaker 2 (10:36):
You tap your card.
Speaker 1 (10:37):
Or whatever, and the money sort of goes from one
place to another place.
Speaker 2 (10:42):
When I was growing up, you've got to hold it.
It was tangible.
Speaker 1 (10:45):
You could save it in your piggy bank and go
into the bank and put it in the deposit and
all that sort of thing. We just don't do that anymore.
If cash is disappearing, how do you teach the value
of money? Since we can't do it the are we
used to.
Speaker 4 (11:01):
So cash becoming digital is a real challenge for kids.
Speaker 3 (11:05):
Particularly the younger kids, because they don't money is an
abstract concept, the idea that you have this thing that
you receive and then you hand over in.
Speaker 4 (11:14):
Order to buy something.
Speaker 3 (11:16):
It's a really tricky concept, and so for very young kids,
I would still advise, even though we rarely see it anymore,
with using cash, for young, very young kids, like around
the age of five, using cash is still important just
so that they can understand that he's a thing you transfer,
there's some source of value in order to buy things.
But we very quickly realize, and you know, even for
(11:38):
a very young age I had when my kid was three,
he was already tapping a card and realizing that you
need to tap something to be able to unbuy something.
So very quickly they realize that purchases can also happen online.
So my advice there is to there's no consequence when
you are tapping a card, so when you hand over cash,
there's actually a pain signal in your brain that says
you're actually losing something and you're giving something away. That
(12:01):
response is really muted when you're just tapping something because you're.
Speaker 4 (12:04):
Like, oh, I can just tap ha ha I get stuff.
Speaker 3 (12:06):
So what you need to do is to try and
recreate that feeling of actually, when I'm paying for something,
I'm losing something. So what you can do in a
digital context, for example, is show the balance, So before
your child is your child has a card, or even
if you're making a payment, show them the balance, make
the payment, show them the balance after and say I
had something and now I've spent this money and I
(12:27):
don't have it anymore.
Speaker 4 (12:28):
So you're recreating that feeling.
Speaker 3 (12:30):
The other thing you can do is let them experience
the consequences for themselves. So I know a lot of
kids in from quite a young age of paying online games,
and often that's linked to your parents credit card, which
can seem like a bit of an unlimited source of
money that's just.
Speaker 4 (12:46):
Only limited by your ability to say no.
Speaker 3 (12:49):
But what you can do, for example, is if they
have their own card, for example, you can just put
unlimited amount and that's so poper money, so actually spending
their own money on their game. And so when they're
spending their own money, they're going to realize really quickly
that it runs out and that there were real consequences
that if they have zero, that there's no more purchases happening.
So that then helps you give that link between payment
(13:12):
and consequence.
Speaker 2 (13:13):
Yeah, this really fits.
Speaker 1 (13:15):
We recently decided that we were going to start doing
our fruit and veggie shopping at the local market on
the weekends, and we thought we'll take cash along instead
of tapping the card. And it's really I forgot what
it feels like to have money in your pocket and
then not have money in your pocket, and it's like, Wow,
we just spent that much money, whereas if we were
(13:36):
tapping a card, we're not going to have. We're going
to have, like you said, a much more muted experience
of the spend ish. Let me ask you just a
general question about pocket money. So maybe it's because I've
got six kids and I'm just over paying pocket money.
But I can't be bothered with pocket money anymore. I
don't give the kids pocket money. I basically say to them,
(13:57):
if you need something, I'll think about maybe giving you
the money for it. We won't, And when you're old enough,
go get a job and pay for your own stuff.
Like I'm just I'm a bit over pocket money. We
used to be so diligent when our kids were younger,
our eldest kids were young, we were so good with
pocket money. I have two questions. It's a double barreled question.
First question is this our family is still giving kids
(14:17):
pocket money? And second question how much?
Speaker 3 (14:22):
Oh?
Speaker 4 (14:22):
Great questions?
Speaker 3 (14:24):
Justin so so he chows about seven and ten parents
are giving pocket money.
Speaker 4 (14:31):
Money means different things to different people.
Speaker 2 (14:33):
Yeah, but what you're saying is I'm being a slight parent.
That's what I'm hearing.
Speaker 3 (14:36):
No, every family is different, right, So for some, you know,
some families, pocket money is you know, I want to
go out with my friends. Here is twenty bucks, thirty bucks,
and that's pocket money. But for others, it's that regular
cadence of every week I'm going to give you, you know,
five dollars. I will say that the literature does say
the best way to build financial literacy in kids is
(14:57):
to give them a regular source of money and to
allow them to make those decisions in saving and spending,
and that you provide that parental guid and it's around
saving money and you and how they think about spending.
If you find it really difficult, like sixy I have
no idea how you do it.
Speaker 4 (15:14):
I would never be able to manage six kids myself.
Speaker 3 (15:16):
So I totally understand that it's really difficult to remember,
you know, every week to be able to, like, especially
if you're doing it in cash. There are digital ways
to do it online where you can just set and forget.
So at kid, for example, you can set up chores
and get pocket money. You can actually set up automatic
splitting for your kids, so you can say, when you
get pocket money, always remember geting a savings habit, so
(15:36):
you know, part of it's going to go into your
savings account, that's going to warn interest, part of it's
going to go onto a card and have that conversation.
But then you as a parent can kind of be
hands off and be like, okay, set and forget, but
then you can have those conversations when.
Speaker 1 (15:49):
They think about yeah, hands off. So essentially what you're
saying is digitally you can you can literally set it
up so that they get their five all to ten
bucks a week and it goes in and they're pre
committed because you've had the conversation with them that they're
going to save this percentage and they're going to have
this much for spending. But it's all happening automatically. It
doesn't even need willpower, right, Like you're setting up ahead
(16:10):
of time.
Speaker 3 (16:11):
Yes, absolutely, so about sitting them up for success, right,
Like you can't expect an eight year old to remember
every single week to be able to transfer some of
their pocket money into a savings.
Speaker 4 (16:18):
Account, Like it's just too difficult.
Speaker 3 (16:20):
Right. But what's more important is that you, as the parent,
have had the conversation about why you're doing. They understand
why it's good to have that savings automation. I know
you also second part of your question was.
Speaker 4 (16:29):
Around how much, So I will say these are averages.
Speaker 3 (16:33):
So every family is different, Every situation is different, what
kids are expected to be responsible for it.
Speaker 4 (16:37):
The pocket money is also different.
Speaker 3 (16:39):
So don't feel that this is if there was any
children listening and you don't get paid this amount, don't
feel like this is licensed.
Speaker 4 (16:46):
Tell your parents that this is how much you should
be paid.
Speaker 1 (16:48):
So well, before you even tell me cost of living
cost of living, have you got any data about how
cost of living crisis has affected pocket money?
Speaker 3 (16:56):
We absolutely have so No the last about two years ago,
we saw that kids pocket money was decreasing and that's
probably a reflection of the cost of living crisis that
some parents saying, you know, we've got to cut back
in pocket money is one of those areas that they
have been cutting back.
Speaker 4 (17:12):
But in the last sort of six.
Speaker 3 (17:14):
Months or so, we've seen the amounts actually start to
climb back up to where they were around in sort
of twenty twenty two.
Speaker 4 (17:21):
So here the numbers dropping them.
Speaker 3 (17:23):
So on age of five to seven, the average is
six dollars eighty age of eight to ten, the average
is seven dollars. Thirty eleven to thirteen averages ten dollars,
and this is per week, and fourteen to seventeen it's
fourteen dollars twenty So some families are still using there's
a rule of thumb that you can use, which is
one dollar per year of age of the child.
Speaker 4 (17:43):
So a five year old would get five dollars a week.
Six you'll get six dollars a week. I will say
that's before.
Speaker 3 (17:47):
The current sort of period of inflation, so that rule
hasn't necessarily been adjusted. But what's most important here is
the amount doesn't matter so much as sort of what
it represents to your child. So it shouldn't be so
much that they could just whatever they want. It shouldn't
be so little that they look at it and say,
there's just no way I can buy anything. But it
needs to be enough to kind of say, Okay, maybe
(18:08):
I can buy some things for myself, but if I
can save up, then I can buy something else I
want for myself. So it needs to make them make
a trade off between spending and saying. But it also
needs to be something that obviously fits into your household budget.
So sometimes what I advise to people who can't afford
pocket money is to actually allocate a part of your
family budget to the pocket money. So, for example, you
(18:31):
want afternoon tea at school, so tell your kids you
are responsible for what you have for afternoon tea at school,
and we're going to go to the supermarket. And you
have a budget of ten dollars a week because then
and you can keep whatever whatever's left over, so you're chucking.
Then go to the supermarket and say, hey, do wan
want the really expensive chips. I get afternoon tia only
two days out of the week, and I go go hungry,
but the other three days.
Speaker 4 (18:51):
Don't let you kids so hungry. Please don't let them
always make sure they meet their knees.
Speaker 3 (18:55):
But maybe they might then go really cheap scape their hair,
really want that, Pope, come on, card to thirty dollars.
I'm happy to just like buy the home brand of
like the Space sticks and go with that for three
weeks so I can buy something else, So then that
doesn't sort of add to your household cost, but it
still gives them the ability to make those spending and
saving decisions.
Speaker 1 (19:15):
Okay, here's my summary of the conversation. If I want
to have better conversations with my children about money, number one,
I've actually got to prioritize it and recognize that there's
value in teaching them about money and how it works.
And it seems based on this discussion that they're going
to they're going to be open to it from about
the age of five or six, but they'll really start
to kick into gear from around seven eight nine, which
is about the same time they're learning about maths and
(19:36):
getting those those ideas in their heads from school. The
second thing that I'm picking up is that they need
to understand savings, interest and delayed gratification so that they
can both spend but also save and ideally go and
do some earning. And the last thing that I'm really
(19:56):
hearing you say is that for kids to understand the
value of money, we've got to be open about it.
We've got to be willing to share what's working and
what's not and bring them into conversations around it.
Speaker 3 (20:10):
Absolutely picky nail that Justina and I think, particularly around
being open with them, sort of going.
Speaker 4 (20:16):
Back to that story of you know, how much do
you earn? How much does a house cost?
Speaker 3 (20:19):
I think it's really important that you know, kids are
naturally curious and that we don't shut down that curiosity
because often there's there's a different question that's actually being
asked and the one they're actually asking, because how much
you earn might be a curiosity about, you know, how
is it that you make a living? Like you know,
the how much is a house cost? Is will I
be able to afford a house in the future, or
(20:40):
maybe it's a question of why does my friend have
a house? That you know, they're comparing themselves to others, So,
you know, rather than shutting them down, it's sort of
think about what's the conversation that they really want to
be having with you?
Speaker 2 (20:50):
Did you tell your kids how much you want?
Speaker 4 (20:52):
He's not old.
Speaker 3 (20:53):
Enough yet, but he does think that he's that his
father is extremely rich because he had to replace our
air conditioner recently winning.
Speaker 4 (21:01):
But oh no.
Speaker 3 (21:02):
My winning money moment though, was he came up to
me and he said, Mom, I want this toy for
my birthday, but it's okay, we can wait for sale.
Speaker 4 (21:11):
And that for me, yeah, and this is five, So
that for me was like a win.
Speaker 3 (21:15):
And I think, yeah, a lot of your attitudes they
regardless whether you're having conversations my money, Like your kids
are learning. So if you don't have if you don't
have that conversation with them, they are learning anyway. So
you know, I'm a notorious chiefs gain and obviously it's
already rubbing off of my five year olds.
Speaker 1 (21:29):
So I'm just thinking about my conversations with my kids
about money. They hear me complain about money a lot
and how much I'm spending. They hear me complaining about
the tax office a lot and how much the taxman takes.
But I don't know. I mean, my kids have no
idea how much income we have. They just know a
lot about our spendings. And this conversation is make me
(21:51):
think that I need to sit down and have some
more financial chats. We have chats every Sunday in our family.
Maybe maybe tomorrow's chat is one of those. Is the
managing director of CBA's Kit, a pocket money app and
card that teaches kids about money. It's been really good
to have this chat with you. You've really provoked a
lot of thoughts for me in ways that are much
(22:12):
more helpful than those social media entrepreneurs that make everyone
feel guilty about not having enough cash.
Speaker 4 (22:19):
Who wants to be there? That's not money goals.
Speaker 3 (22:21):
Money goals is are living your life the way you
want to live it, and money is a tool.
Speaker 4 (22:25):
To get there.
Speaker 2 (22:26):
Yeah, really appreciate the chat. Thanks so much for your time.
Speaker 4 (22:28):
Thanks Justin.
Speaker 1 (22:29):
The Happy Family podcast is produced by Justin ruland from
a Bridge Media Mim Hammonds provides additional admin and research support.
If you'd like more information about making your family happier,
find it at happy families dot com.
Speaker 2 (22:41):
Dot au.
Speaker 1 (22:47):
Kit is a pocket money app and card built by Combank.
Kit helps kids learn all about money, from earning, saving,
and spending their pocket money through to learning about money
by taking quizzes and play fun games. It's guilt free
screen time that helps them develop financial confidence. Kit is
free for eligible Combank Yellow customers, t's and c supply
(23:10):
or just fifty dollars a year for up to five children.
Download the app or visit haykit dot com dot a U.
You can also download Kit's free Pocket Money one oh
one guide from the Kit website at heykit dot com
dot AU TMD available on the website.
Speaker 2 (23:25):
Consider it appropriate for you.
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