How do I explain virtual currency to my child?

What is being exchanged?

Research context: Ofcom reported that 55% of children ages 3–17 played games online in 2025. Source: Ofcom: Children and Parents Media Use and Attitudes 2025–26.

Open the purchase screen together without completing the purchase. Find the price in the currency your household uses and identify how much game currency it buys. Then look at the cost of the exact item the child wants. Use simple arithmetic appropriate to the child’s understanding. You do not have to reduce every game reward to money, but a purchase decision should include the amount that will actually leave the adult’s account.

Why does the bundle size matter?

If the desired item costs less than the smallest available bundle, the decision is still about buying that whole bundle. Talk about what will happen to the remainder. A leftover balance can make another purchase feel smaller even when it requires more money. Avoid describing unused credit as a saving unless the household would otherwise have chosen those items. Compare the complete proposed spending with another possible use for the same amount.

What should the agreement include?

Name the exact bundle, the intended use, and whether additional spending will be considered later. Check that the adult purchase control is active and that the child understands not to confirm an unfamiliar prompt. If there is no purchase today, explain that decision without presenting the child’s interest as foolish. Record any gift balance or earned allowance under your normal family arrangement. This is a practical spending conversation, not a promise that one explanation will remove the appeal of future offers.