Most people grow up without a lot of formal financial education. This is because their families usually have a good understanding of money and how it can be stressful, but don’t focus on it too much. Hence, Financial education is often withheld from kids. Many times parents are unaware of how technology can help kids learn about finance.
Research indicates that children can grasp basic money concepts by age three and develop financial habits by age seven. However, in some cultures like India, children are hesitant to discuss money, limiting their ability to learn and manage finances effectively.
The more people learn about personal finance, the more comfortable they will be discussing it—and, in some cases, teaching it—in India. Unfortunately, no state laws in India require people to learn about personal finance.
In the past, there was no way to quickly provide financial education opportunities to people in need. Thanks to technology, we can now quickly solve this problem. With technology, we can quickly provide financial education to people who need it, no matter where they are. This makes banking more transparent so that everyone can understand it better.
Technology can help kids learn about finance by making their interactions with it fun. This makes it less of a chore and more like a fun game, which helps them to remember what they have learned and to want to come back for more.