Children are growing up surrounded by technology and increasingly exposed to online shopping from an early age. Whether they’re watching you tap your phone to pay at the supermarket or seeing adverts for the latest games and gadgets online, kids are naturally curious about how digital money works. Teaching them about online shopping and digital payments isn’t just helpful—it’s essential for their future financial wellbeing
What is Digital Money?
Begin by explaining that digital money is simply a way of paying for things without using physical cash or coins. Just like the pocket money they might receive, digital money has real value—it’s just stored differently. You can compare it to having money in a piggy bank versus having it on a special card or app that keeps track of how much you have. If you have foster children, explain that your foster care payments can be converted to digital money when you use Apple Pay.
When explaining online shopping, help children understand that buying something on the internet is similar to shopping in a physical store, except the shop exists on a computer or phone screen. The items are real and will be delivered to your home, but you pay using digital money instead of handing over cash.
Building Smart Shopping Habits Early
One of the most valuable lessons you can teach children is the difference between wanting something and actually needing it. Before making any online purchase, encourage them to ask themselves: “Do I really need this, or do I just want it because I’ve seen it advertised?” This simple question can prevent impulsive buying habits that many adults struggle with.
Create opportunities for hands-on learning by involving children in family online shopping decisions. Show them how you compare prices across different websites, read reviews from other customers, and check delivery costs. These practical skills will serve them well throughout their lives.
Understanding the Value of Money
Children often struggle to grasp that digital money represents real value because they can’t physically see it disappearing. Help them understand this by relating online purchases to their pocket money or savings. If they want to buy something online, have them physically set aside the equivalent amount from their allowance, so they can see the real cost.
Set up a simple savings system where children can earn digital money through chores or good behaviour, then use it for small online purchases with your supervision. This hands-on approach helps them understand that digital money isn’t unlimited and must be earned.
Staying Safe Online
Security should be a top priority when teaching children about online shopping. Explain that personal information like full names, addresses, and especially payment details should never be shared without a trusted adult’s permission. Make it clear that they should always ask before clicking on any advertisements or making purchases online.
Teach them to recognise trustworthy websites by looking for secure payment symbols and familiar shop names. Explain that if a deal seems too good to be true, it probably is.
Preparing for the Future
By teaching children about online shopping and digital money in a safe, controlled environment, you’re preparing them for a future where these skills will be essential. Start small, be patient, and remember that these lessons will help them become confident, responsible digital consumers.
The goal isn’t to discourage online shopping but to ensure children understand how to do it safely and responsibly.
