Pigybnk.com Aims to Turn Nation’s Children into Savvy Savers
Staggering stats in the Telegraph recently revealed that 60% of people under the age of 24 have no savings and wouldn’t know how to save money from their earnings. The figures are worrying for the nation as a whole and for mums in particular, who must teach their children the value of money and money management in order to safeguard their future. One website is aiming to stop this lack of saving in its tracks: Pigybnk.com, a collective of like-minded parents and successful business people, is attempting to educate children on the benefits of saving, the value of money and the responsibilities that come with having their own funds.
John Mason, Founder of Pigybnk.com says, “We believe that by starting the financial education young, in children aged 4-10 years old, we will be able to make a real difference in how children see money. Many children at that age believe that their parents will pay for everything forever, when we all know that this is not the case. Our website aims to educate children on the benefits of saving, so that when the time comes to start being independent from their parents, they will understand the value of money and will not need to keep asking for loans from the Bank of Mum and Dad.”
The premise of Pigybnk.com is very simple. Kids set up a virtual account with the help of their parents, and children are then able to manage their money in a very similar way that grown-ups do on a daily basis, but in a way that will make sense to them as kids. The site is actively looking to partner with a bank or virtual bank to provide a full banking experience. Parents are given the role of ‘banker’; they must hold onto their money for them, and allocate it when necessary. When a child receives pocket money, or extra cash from events such as birthdays and Christmas, they can give the money to their parental bank manager, who will pop it straight into the Pigybnk account. Once it’s in the bank, parents and children can work together to decide what will be done with the money, then track their child’s progress using an easy-to-use dashboard.
The Pigybnk site also offers plenty of opportunity for task-setting and goal completion. Setting a savings goal and trying to save enough for the latest new toy or a trip to a theme park is a great way to teach children about the benefits of saving their money. Parents can even set their children tasks to earn extra rewards, so that they learn the value of exchanging the things that they do for a little reward; a little life lesson on their future employment status. The site has a charming interface that will directly appeal to its target audience, and the team are currently working on different themes and layouts for girls and boys of different ages, to further enhance their Pigybnk experience and turn them into savvy savers for the future.
For more information, and to set up a Pigybnk account with your child, visit www.pigybnk.com
Contact: For more information please contact John Mason. Email: firstname.lastname@example.org or Tel: 07919141007.
Founded by a group of like-minded parents and businesspeople concerned about their children’s financial future, Pigybnk is an innovative site that aims to teach children as young as four how to manage their money. With valuable life lessons about the value of money and the responsibility that managing money brings, the site endeavours to turn the nation’s children from frivolous-with-funds into savvy savers.