Pocket money goes digital with new age fintech apps for children

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Piggy bank days could soon be numbered. With the advent and advancement of technology is every walk of life today, you may now look to teach children all about money management digitally. Ankit Gera, Co-Founder, Junio – a fintech app for children shared with Money9 how their digital smart card can be used  for children’s online and offline expenses. Instead of saving their pennies, children  can now learn to manage their pocket money on digital budgeting apps.

“With the Junio card, children can learn how to earn, spend and save, while parents can keep an eye over their spending”, he said.

He also shared that today, children are tech-savvy, can easily do transactions so it makes sense to develop healthy saving and spending habits right from the start.

“Inculcating financial literacy and discipline in children was the aim behind launching the app rather than just being a payment instruments. The app lets parents set up tasks for children linking it to earning money responsibly rather than getting money on demand”, he said

He also shared how the app also lets children set up a goal towards which they can start saving and with all the efforts put in by the child to earn the money to achieve the goal gives them a sense of achievement and children begin to value those even more.