Financial education for kids: Creating a financially inclusive society
Forming good habits takes time. But for some young people, forming the right ones around managing finances happens either far too late, or not at all. And as new financial products emerge, and as our relationship with cash becomes more abstract, the task of teaching children how to manage money is getting more complicated. So complicated in fact, that even the schools can’t keep up. But what if learning how to balance the books wasn’t just left up to the schools? What if institutions could help share the load?In this special three-part series of Financial Futures, we’re exploring the work FIS is doing by partnering up with fintechs and entrepreneurs to shape the future of the financial services industry. And on today’s episode, we learn how one institution is taking on the mission of teaching young people how to manage money, and we ask who should be responsible when it comes to educating children about finances. We also find out how good financial education helps to promote financial inclusivity, and we discover the societal benefits that come with having a money-matter-savvy young population.We’ll be joined by co-founder and COO of goHenry, Louise Hill, and SVP of banking and payments Europe at FIS, Silvia Mensdorff-Pouilly, to discover how goHenry is bridging the financial education gap in young people’s learning, and to find out how the financial services industry is proactively trying to foster a more financially inclusive society.We’ll also ask: How does better financial knowledge help in securing a better future for young people? What do institutions need to do to create a financially inclusive society? How do we teach children to form good money-management habits? What are the pillars of strong financial education? Who is responsible for teaching young people to manage money? How has going cashless affected children’s understanding of money? How is goHenry helping young people to learn about money in a safe environment?
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