Harnessing Technology for Financial Education
In Gainesville, two young brothers, Lucius and August Figueroa, have effectively harnessed the power of the BusyKid app to not only learn about financial management but also save a commendable amount of over $2,000 between them. This app, developed by financial expert Gregg Murset, is designed to teach kids aged 6-17 the fundamentals of earning, saving, and spending money responsibly through practical experience. By completing household chores, children earn money that they can manage through a VISA debit card provided by the app.
Achievements in Financial Literacy
Lucius, 14, and August, 11, stood out nationally as BusyKid’s Top Performers of 2023, a recognition awarded to only 50 children across the United States. Each awarded child received a $100 bonus and a special badge on their app dashboard for their exemplary saving habits and financial management skills. This recognition underscores the app’s effectiveness in instilling vital financial principles in young minds, setting a foundation for their future economic well-being.
The Broader Impact of Financial Education
The BusyKid app currently serves 150,000 members and focuses on simplifying financial concepts to foster better understanding among young users. Gregg Murset emphasizes the importance of financial literacy from a young age, noting that such education is often lacking in traditional schooling. By integrating real-life financial management lessons with everyday activities like chores, BusyKid not only teaches children the value of money but also prepares them for greater financial decisions in the future. Ariel Figueroa, the mother of Lucius and August, praises the app for teaching her children the importance of saving and financial responsibility, highlighting that such tools are crucial for building a strong work ethic and self-control in young savers.