Mobile Money Apps: Tech Helps Teach Kids to Save
Huffington Post - about 1 month
By Juan Castillo
Even the iconic piggy bank is getting a digital makeover.
Feeding the piggy has long been a down-homey, tried-and-true way to teach kids how to save money. Now, these lessons increasingly can be found on smartphones and mobile money apps designed specifically for children.
And why not? The average age for kids to get their first smartphone is about 10, according to research firm Influence Central, so money apps connect with kids in their comfort zone.
More: NerdWallet's best savings accounts for kids
"It's where they are and what engages them," says Ted Gonder, co-founder and CEO of Chicago-based Moneythink, a nonprofit that mentors young people and helps them adopt positive financial habits. Moneythink develops money apps to use as teaching tools, having found they can be more effective than dry lectures or drier textbooks.
There are a few wrinkles in their approaches, but most money apps for kids act like virtual banks, offering lessons on how to bud
Huffington Post article