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“Why did you tap your card at the cashier, Mummy?”
At a Glance
As we progress steadily towards becoming a cashless society, we must continue to impart those same lessons on money management with what is sometimes called “invisible” digital payment methods. This is especially true now during the Covid-19 situation, when cashless transactions (which help us observe better hygiene and minimise physical contact) are becoming even more common and essential.
Enjoy this fun activity with your child to help him/her understand that cashless transactions and payments involve real money too; and that cashless payments can be convenient and hygienic.
Your 8 – 12-year old
It will take:
Half a day (This is an out-of-home activity which you can spend quality time with your child)
Printed “What did I tap for?” activity sheet, pencil & eraser
Making cashless payments is the same as spending real money.
How cashless payments can be convenient and hygienic.
The next time your child sees you making a cashless payment, ask whether he/she would like to try doing it as well. Use his/her curiosity at trying something new as an opportunity to help him/her understand new payment methods that will become increasingly common as he/she grows up. Do note that besides letting your child experience the convenience, it is important for you to explain that real money is involved in each transaction.
Step 1: Load
Load your child’s POSB Smart Buddy watch with spending money.
Ideally, your child will hand you that amount in cash from his/her savings so you can show that it is directly transferred to the watch.
Step 2: Spend
Go out together for a meal, buy snacks or shop for books. Whenever possible, let your child pay for what he/she buys or uses with his/her POSB Smart Buddy watch.
Point out how he/she doesn’t need to worry about counting change, or touch cash which has exchanged hands many times.
Step 3: Review
Show your child how much is left of the money he/she gave you in cash. This will help him/her see the direct connection between cashless payments and actual cash.
Once your child is familiar with the basics of how cashless payments work and how he/she can keep track, you can try similar activities with different types of cashless payment methods:
|Mobile apps like DBS PayLah!|
|Transfers like PayNow|
|Travel passes like EZLink cards|
This can help make it clear to your child how diﬀerent cashless payment methods work and link to each other. (Remember: during these activities, it’s important that you start with small amounts and help your child monitor his/her transactions diligently.)
Save moolah with PayLah!
|Go cashless with DBS PayLah! to great deals and savings on the things you enjoy as a family: food, entertainment, transport & more! |