These days, it is not uncommon to see children already having robust savings. This is due to the fact that they have been taught how to manage their money from their early years.
Money management apps have been described as means to exposing children to money management, which will in turn make them financially responsible.
The Chief Executive Officer, Schoolable, Henry Nnalue, explained that it is important for children to be educated in managing money, with the consent of their parents.
His words: “We want kids to have an early start with money and once they do, you are guaranteed that they are going to have a responsible adulthood. Adulthood is all about managing the resources you have, be it money or other resources.
From his statement, money tools for young children would help them learn those core skills that they need, to which one of them is really money.”
Source: Vanguard