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Children 'can benefit from a cashless society'
4 Feb 2010

It has been revealed that children can be seen to benefit from an increasingly cashless society. 

Greg Katz, writing for Deseret News, recently stated that digging for change to give to his children for pocket money each week was not proving to be practical so he and his wife set up a cashless allowance system.

And it would appear that he is not the only person hoping to teach his children money-management skills in an increasingly cashless society. 

One reader of the publication has stated that allowance systems - such as those trialled by Mr Katz - allow children to keep track of money that they have accumulated, while eMoney devices will allow parents to "automatically set aside a percentage of their earnings for college … or whatever special savings [they] designate".

Pupils at Sheldon School and St Augustine's Catholic College are also learning about how to cope in a progressively cashless society.

Thanks to contactless smart cards from sQuid that can be topped up online by parents, students can pay for their school meals using swipe and go technology, totally eliminating the need for cash.