MSE News

New FREE guide on what to teach kids about spending money safely online launched

Not-for-profit internet safety body Internet Matters has today launched a free ten-point guide with tips to help kids and young people build good online money management habits.

You can download the FREE 'Online money management tips to support young people' guide from the Internet Matters website.

For more help on teaching kids about money, you can also download Martin's free financial education textbook. And for free online adult financial education, see MSE's Academoney course

The new Internet Matters guide covers several key issues parents may be worried about, including what to watch out for with in-app purchases, how 'loot boxes' in games work and how to spot online scams. One of the top tips is to make use of parental controls – the dedicated settings built into apps and devices which give you some choice over what your child can and can't do, and for example let you turn off in-app purchases on an iPad. The Internet Matters website has step-by-step help on parental controls on many popular devices and apps.

Internet Matters is a not-for-profit body which was established by telecoms firms BT, Sky, TalkTalk and Virgin Media in 2014 and works in partnership with Google, Facebook, the BBC and child online safety experts (among others). It provides advice and resources for parents, carers and teachers on issues affecting children in the digital age, such as cyberbullying, screen time, digital resilience, privacy and exploitation.

A new survey of 2,000 UK parents commissioned by Internet Matters found some 43% of parents are concerned about their children spending money online in games and apps, and as many as one in eight (12%) of four and five year-olds have spent money online. 

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