NatWest Rooster Money

Rooster Money, offered by NatWest, is an excellent tool for teaching children the fundamentals of financial responsibility. With its intuitive interface, children can easily grasp the concept of saving and budgeting by allocating their money into different ‘pots’. The app fosters a sense of autonomy and accountability, empowering kids to make informed decisions about their finances. Parents can monitor their children’s progress and offer guidance when needed, promoting healthy financial habits from a young age. Overall, Rooster Money is a valuable resource that makes learning about money management fun and engaging for children, setting them on the path to financial independence. Additionally, Rooster Money facilitates paying weekly pocket money via direct debit, instilling a tangible connection between effort and reward for children. The ease with which parents can allocate or deduct funds for completing chores fosters an understanding of the value of work and financial responsibility. By mimicking real-life scenarios, such as earning money for completing household tasks, children gain practical insights into the dynamics of working life. This feature not only incentivises children to take on responsibilities but also reinforces the concept of earning and managing money, further enhancing their financial literacy skills in a practical and engaging manner.

Tracking the kids cash was a nightmare. First of all I’d forget to give them pocket money every week, then if they had birthday money sometimes they would give it to me for safekeeping, sometimes not, but the most difficult thing was that when we were at the shops and hadn’t planned to spend they didn’t know how much they had, we’d try to remember and end up buying it for them with the promise to be paid back, sometimes which was forgotten. It was just a minefield. From the kids perspective my son was a saver. Great. But my daughter (8 at the time) spent everything she had the second she had it on tat and then got upset when she couldn’t afford bigger things. So - rooster money.... pocket money goes in automatically each week. Never forgotten. When all the money is gone the kids (mostly my daughter) can check their statement to see what they have spent it on When we are out shopping they know exactly what they have to spend and shop accordingly I can check the statement to see if we’ve taken out money for the things they have bought as we always label items with what they were spent on Oh - and my daughter now saves because she can see the money going up and set targets for things she wants. It’s simple but it works and has changed the way we and the kids handle money. Highly recommended app! Updated *now the kids both use the card it’s excellent as I get all of the above info, and they can manage it all themselves*

We wanted to give our granddaughter monthly pocket money without handing over cash which would pressure her into saying thank you each time. Rooster has allowed us to give her money each month on the same day, just like a wage, to teach her to budget. We have set our account to move money from our bank account to our Rooster ‘parent’ account on the 27th of each month and then into her account on the 28th. Our granddaughter knows she is getting ‘paid’ because her rooster app gives her a countdown to pay day, (I didn’t know this) and she looks forward to it. It was a little tricky to set up as the whole app is geared towards parents rather than grandparents. I am not too good with technology but found the chat line incredibly helpful. I had so many questions and although they said they would get back to me in a few hours it was actually just a few minutes. In these times of contactless payments I am really happy that she now has a card and doesn’t have to carry cash around with her. I honestly cannot recommend Rooster highly enough.