![]() ![]() “Also talk to your child about peer pressure they might feel. It’s important for us to have conversations with them about the risks of spending money online and how they might be susceptible to fraud, scams, or other financial harms. “Just like it’s natural for us to advise children how to spend their pocket money in the offline world, we need to help them in the online world. Linda Papadopoulos, said: “While children may know their way around the latest online video game, many are in over their heads when it comes to understanding the value of money, which is why we see so many headlines about kids accidentally racking up thousands of pounds online. The guides include tips for parents on how to control what kids buy online, using parental controls and device settings to set spending limits or restrict in-app purchases, so they don’t unwittingly spend money online.Ĭhild psychologist and Internet Matters ambassador Dr. The new guides, released today, include advice on in-game spending and new trends such as gifting gaming influencers and buying loot boxes – which are like virtual treasure chests that gamers can purchase without knowing the contents before they buy. The new hub will offer new resources to give parents the knowledge and confidence to speak to their children about online money management. ![]() The research from Internet Matters of more than 2,000 UK parents showed the potential risks around spending money on games and apps is now the second biggest online issue that parents say their child has direct experience of (16%).Īnd while it found 43% are worried about their child spending money online, almost one in four (38%) are concerned with their children gambling on websites or in games/apps.Īlthough the experience of spending money online increases as they get older, the data reveals that as many as one in eight (12%) f our to five-year-olds have spent money online.ĭespite parents’ concerns, only 18% said they had talked to their kids about the risks of spending money online. Internet Matters launches a new hub to give advice to millions of parents on how to help children manage money onlineĪs a result, Internet Matters has launched a new hub to help parents address the issue of children’s online money management as they grow up in an increasingly cashless society.Yet only 18% have spoken to their kids about it in the last six months.New research from Internet Matters reveals 2 in 5 parents are worried about their children spending money online on games and apps.
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