PISA tests show that 22% of 15 year olds score below the baseline of financial literacy, and OECD points out that young adults have among the lowest levels of financial literacy. Schools fall short in teaching personal finance as no European country has implemented financial education as a subject.
Meanwhile, children are missing out on learning opportunities with mobile banks being seldomly child-adapted. This often results in children not interacting with their own money, leaving them financially excluded in today’s cashless economy.
“All around the world, children are taught about faraway planets or historic Kings and Queens, but they know little about how to budget or understand their finances.”
– Philip Haglund, CEO at Gimi