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Teaching the Financial ABCs in the Digital Era

Those of a certain vintage will probably remember being given a piggy bank. For many of us, piggy banks were our first real introduction to money management. Research from the University of Cambridge suggests that by as early as seven years old we’ve already developed the habits – good and bad – that will inform the way we deal with finance in the future.

The world of money has changed significantly over the last decade. Chances are, children growing up in the Information Age won’t think about money in the same way that we do.

In an ever-shifting landscape of internet finance, cryptocurrencies, blockchain and contactless payment, the venerable piggy bank has become somewhat obsolete. Nonetheless, it’s vitally important that we provide children with the foundations of sensible money management at an early age.

Pigzbe’s hand-held hardware wallet is the benchmark in educational finance. It’s designed to reinvent pocket money for a whole new generation, introducing children age 6+ to modern money management while teaching good financial habits in the process. It runs on Wollo (WLO), a novel, family-friendly cryptocurrency.

Pigzbe’s game-changing concept lead to a partnership with Wirex, the payment company that has already reset the industry by bridging the gap between crypto and everyday spending. This partnership will see Wirex offer a WLO wallet on their platform, and users will be able to spend the token seamlessly using the contactless Wirex Visa card.

In a world where the Organisation for Economic Co-operation and Development has shown that around one in five students struggle with even the most basic of fiscal responsibilities, increasing financial awareness and responsibility from a young age can only be a positive.

OECD Secretary-General Angel Gurria said:

“Young people today face more challenging financial choices and more uncertain economic and job prospects.

However, they often lack the education, training, and tools to make informed decisions on matters affecting their financial wellbeing.”

The concept of a piggy wallet will go a long way to tackling these issues in the future and provides a shining example of the positive impact technology can have on society.

Teaching the Financial ABCs in the Digital Era

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