We asked Claudia and her 8-year-old son Jaxon to give us an update on how they were going with SquareOne – a free app that helps kids connect the dots between earnings, spending, and saving money.
Claudia and Jaxon started using SquareOne a month or so ago – you can see their initial thoughts here. Join us as we catch up on how things have been going.
Working towards his goal
It’s been over a month since we first started using the SquareOne app and it is firmly a part of our household now – not sure how we lived without it before this, to be honest! Jaxon (8) is a third of the way to his savings goal of a Chromebook now, and it has been incredible watching the changes in him with regard to responsibility and work ethic.
He takes ownership of his chores and I don’t have to chase him up or remind him anymore, as he knows once he’s completed a chore, he can tick it off on the app himself and I will get notified so that I can accept the payment into his account from my Parent Wallet.
He loves nothing more than building his ‘income’ over the week and then moving it from his account into the saving pocket for his laptop at the end of the week, then yelling out loudly from across the house, “Mum I only have $200 to go now!”
The app makes it so easy for him to see exactly how he is tracking and how much more he needs to reach his goal, and it certainly motivates him to keep at it.
Understanding his money
The conversations we have around money and savings are also different now as his understanding of what it takes to work and earn money in order to achieve a goal has deepened.
Before we started using the SquareOne app and he just had cash in his piggy bank, there was much more of an instant gratification element to it. Every time we went to the shops he wanted to take cash out and spend it on something quite useless (in my opinion), so he never managed to save anything and also couldn’t understand why this was important.
Now he sees that if you really want something special, it takes time to work towards it and that the more effort you put into achieving it, the faster you will get there.
Understanding the world he lives in
He’s started asking me questions about what I am saving for, along with questions about what things cost, like the cost of electricity each month, groceries, petrol and our TV! These are things he has never given a thought to before, so it means we are now having more meaningful conversations around money and how it works in the real world.
I can see that he is thinking about it in a totally new way and is far more considered in his decision-making around what he wants to spend on and save for.
I asked him what he’ll be saving for once he’s bought his laptop, and he had obviously been thinking about it already as his answer was pretty quick – a GoPro!
Sharing the love
He’s even been showing his little sister how it works on his iPad, and although I thought she might be a bit young for it at age 5 she has assured me that she is not, and she wants her own SquareOne app account now too.
Another cool feature that Jaxon is tapping into right now is earning $5 for each friend referral.
Using his unique referral code, he can encourage his friends to sign up and get $5 for them both – a fantastic lesson in entrepreneurship if you ask me, as Jaxon chases them up to ensure they download the app so he gets paid!
Get SquareOne now FREE
Download the FREE app now, so your kids can start connecting the dots in a cashless world and learn good money habits that will last a lifetime!
Kidspot’s special code
If you use the Referral Code: KIDS5 when you download the app and register your account, you’ll receive $5 for your parent wallet once you have done a total of $50 in top-ups.
At $1 and $2 per job your child does, this will stretch quite far and give you a really good gauge on how well it is working for your family. (See example below on how to get your $5. Terms and conditions apply).
Claudia and Jaxon were provided with SquareOne for the purposes of this review. Opinions are those of the reviewer and do not necessarily reflect the views of Kidspot NZ or SquareOne.