September 8, 2021
Kids, COVID & the Need for Increased Financial Literacy
Edmonton Edtech firm aims to prepare kids for future financial uncertainty like that brought on by the COVID-19 pandemic.
An early money management education is crucial for the future financial well-being of children. The general consensus among financial industry experts is making headlines as an Edmonton EdTech company ramps up its reach with a mobile app video game designed to teach kids money management skills.
The Canadian Press reported last month that advocacy groups, including the Financial Consumer Agency of Canada and the Canadian Foundation for Economic Education, are urging parents to teach their children about household finances, particularly now when there are so many financial stressors and uncertainties due to the COVID-19 pandemic.
MoneyPrep Co-founder, Pam Liyanage, wholeheartedly agrees with the sentiments, “The truth is the pandemic has highlighted for us all the need to manage money and prepare for the future. There are a lot of ‘unexpecteds’ out there and our kids will most certainly face another challenge or crisis in their lifetime. Our goal is to help prepare them for that so that they are financially ready.”
MoneyPrep teaches kids as young as 5 years-old habit-forming money management skills like income-earning, saving, investing, and deciding between instant gratification and saving for the future. The online learning game has been played more than 7 million times by kids around the world in their homes, in classrooms and coming soon to mobile phones and tablets.