Financial Education – Teaching the Value of Money

There have been a number of articles this year about financial products targeting children with the aim of teaching them to save, spend and think about money ready for when they are adults.

This has become more urgent as the use of cash has declined. Research has shown that people who ‘visualise’ money as cash treat it differently from those see it as a line in a spreadsheet. Living in a digital world needs more sophistication than living with cash and the complexity involved continues to grow.

The 50 million Americans aged eight and over who don’t have a bank account are defined as ‘pre-banked’. According to Till Financial they have $400 million buying power and are, therefore, a valuable market. As a result, it has launched a product designed for this group.