Startup of the Week - RoosterMoney
by Startacus Admin
The app that's teaching kids to have good money habits...
Let’s face it - it’s never too early to start learning about managing money. It shouldn’t be something that we only properly think about when we leave home or get our first job. Teaching kids about finances from a young age will stand them in good stead throughout their lives.Recognising how vital it is to do just that, our latest startup of the week have created a solution.
RoosterMoney is a FinTech startup which is on a mission to transform the way that parents teach their kids about the value of money.
The RoosterMoney app features a Pocket Money Tracker which enables families to manage pocket money easily with a set allowance being delivered to a child’s account on a specific day. The entire interface is very child friendly and encourages children to engage with their accounts.
They can see how much they have, keep track of and learn about spending and the impact of their spending decisions. Spend, Save and Give pots can be set up enabling kids to learn the importance of setting money aside and donating towards causes that they may view as important. Individual goals can be created to encourage and teach kids about saving up for something that they want. There is even a ‘Jobs’ feature where kids can learn about the impact of working and earning. Household chores and tasks can be linked to pocket money or perhaps earning a little extra.
The app teaches the most important aspects of money management in a child-friendly way. What could be a pretty dull albeit essential subject is taught in a fun yet practical manner.
The company has also created a Rooster Card which children can progress to after using the Pocket Money Tracker. Whilst there are of course parental controls in place, the card teaches children all about making considered spending choices and developing good spending habits.
In all, RoosterMoney is educating and empowering children on all things finance in a way which will hopefully help them make good financial decisions for the rest of their lives and that can surely only be a good thing.
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Published on: 27th August 2020
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