How to Teach Children the Value of Financial Autonomy

Building a Strong Financial Foundation

Teaching children about money, particularly appreciating its value and how to earn it, has been a perennial concern among parents for generations. A survey conducted by OnePoll on behalf of Chase showed that more than 80 percent of parents wished they knew more about finances when they were young and are now looking for the right tools to educate their children. This is why many are turning to digital technology to help ignite good habits among their children, often in a fun, game-like manner.

If You Game It, They Will Come

Simply counting numbers and adding interest can be tedious for kids. This is why many emerging services often include gamification that may also reward good behavior. Some even link to popular online games where users can spend digital currencies on skins, tokens, and accessories, subject to adult control.

A Lifetime of Good Habits

Mobile banking apps for kids can help with the creation of bank accounts, CDs, and other financial services, as well as more exotic instruments like brokerage accounts and annuities when the time comes. Many also facilitate the transfer of funds from one account to another and provide, or link to, more advanced informational services like deposit insurance, federal reserve, and financial regulations.

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Magnify Ventures is an early-stage venture capital fund investing in founders with bold ideas to reimagine life, work, and care for families.

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Magnify Ventures

Magnify Ventures

Magnify Ventures is an early-stage venture capital fund investing in founders with bold ideas to reimagine life, work, and care for families.