What kind of pocket money parent are you?

How do you feel about talking to your kids about money? Are you relaxed and comfortable about pocket money conversations, or do you avoid the topic and hope they’ll forget about it - or at least leave it for another day.

Australian parents recognise that having a pocket money system helps children learn financial skills for the future, but they vary in their attitudes in talking about money with their children.

Talking about money helps kids understand

Whether pocket money is given automatically or earned for chores around the home, it helps children understand the key concepts of money management that they will need when they enter the workforce, leave home and need to budget.

Research shows that Australian parents fall into four different ‘money parent personality’ types that vary from being relaxed and engaged in conversations about money with their children to those who worry and avoid the topic.^

Which money parent personality are you?

A 2018 survey of Australian parents with children aged between 4 and 18 showed ‘money parent personalities’ reflect the way parents felt about money and talking about it with their children. Take a look at the four general categories and work out the group you belong to!

  • Engagers (30%) have high household income and are generous with pocket money for their kids. If you’re an Engager, you’ll be happy to talk to your kids about money and see the benefits of using pocket money to encourage good behaviour and teach financial skills.
  • Avoiders (29%) are not comfortable about talking to their kids about money and give them the least pocket money.
    Children of Avoiders are the least interested in learning about money and are unprepared for money management in today’s digital world.
  • Relaxed parents (22%) generally have low financial stress and are happy to talk to their kids about money – but not very often.
    Children of Relaxed parents are left to find out about money through their own experience and may miss opportunities for learning essential skills of money management.
  • Troopers (19%) tend to have smaller families and talk to their kids about money, but they’re uncomfortable about those conversations.
    Worrying about money themselves, Troopers don’t want their children to worry about money as well. They encourage their teenagers to get a job.

Whatever your ‘money parent personality’, you’ll recognise that the world your children are moving into is changing, with a trend to digital money management and children need to keep up to be ready for their independence.

Encourage curious kids for digital money management

Preparing them to be financially savvy by practising good money management habits starts with pocket money. Whether you are an Engager, an Avoider, a Trooper or just Relaxed about money matters, your children will be looking for ways to earn, save and spend money.

Try these tips from the Engagers, who:

  • Give their children more generous sums of pocket money
  • Have used money to encourage good behaviour in their children
  • Include their children in household discussions about money
  • Let children make online purchases for the family
  • Are comfortable for their children to know about their earnings.

Do their attitudes impact their children? Preparing for the future world of invisible money, Engagers’ children are:

  • More curious, confident and financially literate than they were at their age
  • Most equipped to understand and transact in today’s digital money world
  • More likely to have a job.

Learn about saving, spending and budgeting with ZAAP

Find out more about pocket money for the future with ZAAP, a new leading-edge digital pocket money tool that is designed for learning, earning, saving and spending in the world of digital payments.

Whatever your money parent personality, ZAAP is the pocket money app for the digital age that can help you start the conversation with your child about essential money management skills.

Visit the website at www.zaap.com.au to find out how ZAAP makes pocket money a learning experience to equip children with money management skills.


^Share the Dream research report is based on a national quantitative survey of 1,003 Australian parents with children aged between 4 and 18. Conducted in June 2018 for the Financial Planning Association of Australia.