Making Money How parents raise bad investors
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Aug 11, 2025 Louise Hill, co-founder and CEO of GoHenry, shares insights on teaching children financial responsibility through innovative tools. The conversation highlights the importance of distinguishing between allowances and chore compensation. Hill discusses the challenges parents face in a digital age, emphasizing the role of the GoHenry app in fostering financial literacy. She also addresses the significance of letting kids learn from financial mistakes and the need for schools to implement mandatory financial education, preparing future generations for empowered money management.
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Give Regular Pocket Money
- Give children regular pocket money to build consistent money habits from an early age.
- Regularity teaches saving, delayed gratification, and practical decision-making.
Make Digital Money Tangible
- Children interact with digital money but often lack a tangible link to spending.
- Parents must help make digital transactions feel real so kids learn consequences.
Why GoHenry Was Created
- Louise Hill built GoHenry after her children spent on iTunes without understanding money.
- She wanted a tool to teach digital spending habits and give parents control.
