As the holiday season approaches, UK department store John Lewis has introduced an innovative product called Nestlums—a Tamagotchi-inspired pet designed to teach young children about money management.
Nestlums is intended for children aged four to eight years old. Unlike traditional financial tools, this toy operates without real currency or a connected application. Instead, parents can utilize a secret-mode feature on the toy to update the balance, guiding their children in understanding the implications of spending.
While various apps such as GoHenry and Starling’s Kite cater to slightly older demographics, Nestlums aims to foster positive financial habits at a formative stage, especially in a time when physical pocket money is becoming less common.
This creative initiative comes from the London-based studio Those Beyond, which emerged from the UK core banking provider Thought Machine in 2021. The company references research from the Money Advice Service indicating that children’s attitudes and habits regarding money are largely established by the age of seven, making it challenging to modify these behaviors later in life.
Alan Wright, the buying manager for toys and books at John Lewis, remarked, “Upon our initial encounter with Nestlums, we recognized it as a distinctive product that aids parents in imparting the value of money in a progressively cashless world. We are thrilled to offer it exclusively at John Lewis, and the toy has been well-received by our customers.”
Nestlums is currently priced at £24.99 and can be found exclusively at John Lewis.