Can your child recognize the colours of the euro notes or estimate the cost of a house? Are you confident your child is age appropriately equipped to handle money? A lot to consider, but luckily there is a tool that can help you and your child.
Financial-education.be is a new website designed to test how much children aged 6-12 know about money. The website was developed by Yongo, an AG savings and investment platform. It encourages financial education and offers a disciplined approach to handle money for young children from the earliest age possible.
On financial-education.be, parents can test the knowledge of their child via a quiz that is adapted to the age of the child. The result gives parents a good idea of how familiar their child is with money and whether the level of knowledge corresponds to that of children from the same age group. The tool then refers the parents to specific tips from experts and other parents on ways to improve the knowledge of their child.
But it is one thing to have a thorough knowledge about money, it’s another thing entirely to transform this into skills that can serve us in daily life. And this is where many parents often struggle. Yongo offers a platform that can serve as a learning environment for children, while allowing parents to manage the money of their child. Family members or friends can also use it to contribute towards gifts or the savings or investment plans of the child. Over time, parents can gradually provide their child with more and more insights to help them learn how to handle money responsibly.
There is never any cash in my wallet. In the supermarket I take out my bank card. For a child it seems that the card is an inexhaustible source: enter code and voilà, the money will come naturally! Yongo makes money more visible for my daughter. She notices that everything costs money and is often curious about the price of things. I do think it is important to stimulate her awareness about money.