Shaping kids financial future through the pocket money economy
Today’s kids have a buying power of 1.2 trillion dollars a year
The only way kids will absorb sound personal finance principles is to allow them a real experience with real money
Kiddy Credits is a practical, real life online money management tool
To teach kids the importance of saving through the use of chores and pocket money in a online tool that not only allows you to set up your chore charts for all the family, but track payments and teach kids about online banking and more!
Financial literacy is a global concern. Governments have spent millions of dollars on financial literacy education programs. 15 years of research has proven that this does not work! The only way to raise the chances that kids will absorb sound personal finance principles is to allow them real experience with real money – and adult guidance.
Each year in Australia, parents fork out $1.4 billion in pocket money, but when you stop and think about it what is really achieved? Does payment represent real rewards for real activity? Does that money get well spent? Do parents deliver it in a way that encourages good behaviour? Most importantly… Is there any real learning along the way??
Kiddy Credits uses pocket money to engage parents and children in order to teach them about he value of money and how it can be earned, short and long term savings goals, as well as borrowing and the importance of repayment - with content tailored to create an age specific learning experience.
No-one dreams of their kid growing up to go on Welfare, right! So why as parents do we hand out money to our kids or buy things for them without first making them earn it. I’m not talking about cracking a whip and forcing them into slave labour. I’m talking about real reward, for real [...]
In order for kids to learn how to manage and value money, they need to have some. However, money doesn’t grow on trees so the first lesson they are taught through Kiddy Credits is that money must be earned. It is well known that when somebody is given something for nothing they don’t appreciate it [...]
You wouldn’t like it if one week you were paid and the next you were not. How would you plan for the future, pay your bills or god forbid SAVE. By taking the hard work out of managing the payment of pocket money, Kiddy Credits makes it easy and quick to ensure that your kids [...]
Once your kids know how much they can earn, they might like to think about how they plan to use their money by setting savings goals and creating wish lists of items they’d like to save up for. By setting goals kids learn how much time and effort is needed to achieve it. They appreciate [...]
Kiddy Credits is continually rolling out new features in line with the Financial Literacy Framework to ensure your kids are exposed to real learning experiences with real money. Age appropriate features can be added and removed to customise a dashboard that is as unique as your child. Once they’ve got a grasp of the basic [...]
Kiddy Credits virtual bank account (we like to call it the Bank of Mum and Dad) mimics that of a real one, with real consequences. Just like in the real world, your kids can manage their money. Transfer between accounts, spend and heaven forbid even save. Also just like in the real world, they can [...]
Customising chore charts is a snap. Simply click and drag from the list of chores to create your child’s weekly chore chart! There is a wide selection of chores, tasks and behaviors for you to choose from. Can’t find the task you are looking for? No worries, you can quickly add it. As the chores [...]
Imagine how your daughter would feel if she was given less pocket money than your son? To mark International Women’s Day today and it’s theme of pay parity, we asked kids how they would feel. Watch their response and let’s change things for a more #equalfuture @ANZ_AU #IWD2016 #PledgeForParity
THOSE who advocate teaching personal finance to children in primary schools envision adults in the future who are able to budget, understand the implications of rollover credit card debt and can sidestep complex and risky investment products. Professor Emeritus Lewis Mandell, who has researched financial literacy issues in the last 15 years, is quick to [...]
“The Commonwealth Bank recently released a survey on pocket money; apparently it’s worth $1.4 billion each year!”Justine Davies, Canstar.com.au, 28/02/2013