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nitrogenNot many founders can say their kids are getting it money They gave them ideas for their businesses; but that’s exactly what happened to Louise Hill, who launched GoHenry, a prepaid debit card for children, in 2012. She began to notice that her children were spending money on their iTunes accounts without permission, and unidentified small payments appeared on her bank statements. She printed the receipt, taped it to the refrigerator, and deducted the amount from their pocket money; nonetheless, they were undeterred.
One Saturday, during a break from her son’s soccer game, Hill shared her frustration with other parents. Everyone has a similar story; one kid spent a fortune buying tail and mane decorations for her digital pony. Another spends money on eBay. Hill realized there needed to be a way for kids to spend safely online with restrictions; for those under 18 to budget and build their own money.
Thirteen years later, GoHenry has 2.3 million members and a net worth of £6.3 million. Hill is a Downing Street regular, CEO, investor and pioneer of financial literacy for children, successfully pushing for financial education to become part of the primary school curriculum in England by 2028.
I don’t have a rich husbandWhen I started GoHenry, I came from a banker background or family wealth. Just me, two kids and a big mortgage. I don’t really have any savings other than a £2,000 emergency buffer. So, I had to go out and find people who were willing to believe in GoHenry’s vision, take a gamble on me, and invest some money. I was introduced to a financial advisor who knew some high net worth individuals who were investing in startups. We then successfully attended pitch events hosted by HSBC and Coutts. It took nearly 18 months to find funding. We raised £672,000 just to get the business off the ground. This is a long and difficult process. Many numbers. But we got there.
my parents Coming from very humble beginnings and working hard all his life. I wish they could teach me a little bit about investing. My father did no such thing, except when Maggie Thatcher sold nationalized industries and bought some shares in BT. I am determined to teach my children that investing and using a financial advisor is not just for the rich. You can start with a few pounds and turn it into savings.
I was 47 years old When I started GoHenry. I already had a good career and sold an e-commerce company called Manners in 2002 – long before my next venture. I was able to bring some experience to GoHenry, but I knew nothing about banking, finding investment, or how to form a board of directors. I learned along the way. The best thing I ever did was join an entrepreneur group where I learned from people who had been there and done it. There is a network of support groups.
You should only start a business ifYou think the idea is strong enough and you have the ability to do it. You have to be strong – but you can learn that. I hope I’m still human and warm, but you have to get used to rejection. Whether that’s when you’re trying to secure investment, or within the logistics of your business itself. The first people we spoke to said, ‘Kids can’t have debit cards. What are you talking about? Financial regulations do not allow this. ” Well, guess what? They do. Millions of kids are now using GoHenry to prove it’s true.
I’m not rich yet. I have sold some stocks over the years. So, I’m fine. But I’m not one of those entrepreneurs who sells their business and walks away with a big bank transfer or $10 million or more. My life was changed by GoHenry, not money. I ended up going to some amazing places. I didn’t even know how many times I’d been to Downing Street before I received all the photos. This business allows me to be a strong voice for all the parents and children we represent. That’s the difference.
Investing is all about Easy to obtain, low entry barrier to investment – not buying a set of stocks and selling them, hoping for a quick profit. Saving £10 a week, £20 a month, it doesn’t matter. Put your money into moderate-risk diversified funds and stay there. Where does that jar end up? The performance of the stock market always remains around 8% to 10%. So there’s no point in putting your money in a savings account that earns three percent. Propelle is a company dedicated to empowering women to feel confident about investing and money. I’ll put my hand up and say I’m an investor. They did a very good job.
All parents should Give your children regular pocket money – even if it’s just 50p a week. If you give your child 50p today and £2 a week later and then spend nothing for two weeks, they will naturally spend the money. If they know they’ll get 50p every Saturday, the data shows it’s incredible how quickly they start saving. This saves money by getting the muscle training started early so they know they can spend some money but also make a little money.
My biggest money regret It’s how many pairs of uncomfortable shoes I bought. None of them fit, but I tried to convince myself that they did. Same as above, clothes are on sale. I’m really bored right now; I only buy complete outfits or pieces that I know will match three or four items in my wardrobe. Also, when I was single and living in London, I bought an old TVR two-seater sports car. I absolutely love it and it cost me a fortune. But the electronics on it are dangerous. It’s like a disco. You hit the brakes and the reverse lights come on. It was always in the garage, but I thought I was in my little red sports car.
The best thing I ever bought is a Mulberry bucket bag When I was working my first job out of university on the House of Fraser graduate internship program, I bought leather handles on sale at a staff discount. It was £500 and I was earning £7,000 a year. This is a beautiful bag and I pass by it every day. They gave me a discount when it was on sale for 20% off, I bought it and still use it today. When it comes to clothes and shoes, the investment is the cost per wear; that bag must have cost a few cents per wear because I’ve used it. And it still looks great.
Louise Hill is a champion of FFinc Forward Faster Accelerator 100, a UK-based business accelerator program designed to help women-founded companies scale growth faster, launching in September 2025. For more information, please visit https://ffinc.co/