GoHenry Introduces “Money Missions” Encouraging Financial Education
After raising $40 million late last year and expanding into the United States, the kid-centric FinTech app GoHenry has now added a significant feature to its platform. This week, the app announced the debut of Money Missions.
With Money Missions, children can learn about various personal finance topics while earning points and leveling up as they complete lessons. Among the categories covered are money basics, earning, saving, investing, responsible spending, credit, money safety, and more. These lessons incorporate animated videos and other elements, with kids then taking quizzes on what they’ve learned in order to obtain badges. According to GoHenry, the Money Missions curriculum was developed in partnership with teachers and financial experts in both the United States and the United Kingdom. Additionally, these lessons meet K-12 personal finance education national standards.
As GoHenry notes, recent research from the University of Cambridge shows that children form money attitudes and habits by the time their seven. Elsewhere, 87% of teens report having trouble making spending decisions. Thus, the app’s Money Missions are tailored to the child’s age and also adjust to the student’s skill and confidence levels.
Announcing the debut of Money Missions, GoHenry CEO Alex Zivoder said in a statement, “We’ve always had a simple mission which is to help kids be smart with money. With 60 million kids and teens in the U.S. and U.K. alone that have not been adequately served with financial education, Money Missions is one of the ways we are bridging this gap with a hands-on app experience to turn financial education into a motivating, fun, and rewarding way for kids to build confidence with money.” Zivoder went on to note of the feature, “It’s a really strong complement to our innovative debit card, banking, and payment functionality. With Money Missions, GoHenry will continue to be the place kids and teens learn the foundational blocks of personal finance and gain real-world money skills necessary for their future.”
GoHenry’s expansion and success come as other FinTechs have also aimed to help the next generation become more financially literate. For example, apps like Current and Revolut each have kid or teen-focused banking account options. Elsewhere, the app Zogo has partnered with various institutions to offer financial curriculum in a gamified fashion somewhat akin to Money Missions.
Overall, GoHenry’s Money Missions sound like a great addition to the growing app. Considering that the service is meant to give kids and teens hands-on experience with their money, expanding their offering to include additional financial lessons makes perfect sense. On that note, with more FinTechs embracing similar ideas, hopefully we’ll see future generations become more financially savvy at a younger age than their elders.