From Pocket Money to Tap and Pay – How Personal Finance Models Have Evolved for Kids this Year

From the third decade of the 21st century, we’re standing at the threshold of the future. As Mr. Bill Gates says, “The future of money is digital currency.” It doesn’t take a detective to figure out that the transformation of many things that we interact with will undergo a shift. Many things that are secondary today will become the new normal tomorrow. The natives of the digital age will be the ones using an entirely digitized monetary arrangement. Hence, it is crucial to help them manage their money by using a technological touch.

Why e-money is a Necessity for the Digital Kids

The culture of pocket money will never get old! As children, we all wanted to cash in the opportunity to get some monthly money for those delicious treats, stylish stationery, or fancy toys. The kids of the tech age are the same. The concept will never change, but they pocket their bills by “carding” on the opportunity. As the world transitions from cash to digitized payments, the need for a digital wallet for your child may be more than a passing fancy. It may become a necessity.

Parents realize that we live in unpredictable times. Having experienced demonetization and the lockdown, going cashless for payments has been a lesson for most of us from yesteryear. We learned our lessons the hard way, but the tech age kids are still young and can understand the benefits of programmed monetary systems.

Regulating a child’s expenses every month is extremely important. With a digital wallet…

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