I’ve written before about what I think is a massive problem for young Australians – their lack of knowledge about money and finance. And it’s something that personally, I’m passionate about.
And part of the reason that young people are ill-equipped, is that we’re ALL increasingly ‘disconnected’ from the cash we spend – we swipe and pop pins and no one really carries the real deal paper stuff around anymore. This ‘disassociation’ from money can be really harmful as life goes on and financial responsibilities become big – and if not managed well – burdensome.
Older generations of Australians learned a valuable life lessons through pocket money: You could ONLY spend what you actually had. And it’s something that children today miss out on to a large degree.
But this clever new mobile technology shows some real promise in helping kids to understand savings goals and spending habits, because it brings traditional money lessons into the 21st Century via technology.
Spriggy offers a Visa prepaid card for kids. Basically – parents can pay their kid’s ‘pocket money’ onto the card and use an app to track the account.
Transparency means parents have access to every transaction. Specifically designed for 8-18 year olds, Spriggy is firmly aimed at helping parents and kids manage money together.