GoHenry launches new financial literacy tool for children

Financial literacy is something even some adults struggle with, but children’s debit card goHenry is launching a new tool to tackle it head-on.

GoHenry has today launched ‘Money Missions’, a gamified, interactive tool designed to educate children aged 6-18 and promote better financial literacy.

The fintech has designed games to teach kids about money basics, such as earning, saving, investing, responsible spending and credit money safety.

“With 60 million kids and teens in the US and UK 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,” Alex Zivoder, CEO of GoHenry said.

“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.” 

Kids will now be able to watch animated videos, take quizzes and earn points and badges while learning about their financial wellbeing.

Dani, a parent who has been using Money Missions with her 11-year-old daughter as part of beta testing, added: “My daughter Ellie-Rose has already been using GoHenry for over a year and in that time she has learnt how to budget and save. 

“She’s loved using the new Money Missions and particularly enjoys the way it’s like a game with the videos and animations. She wants to get the questions right, so it makes her listen more and concentrate—she gets a great sense of achievement after completing each mission.”

Research from the University of Cambridge shows that children form their attitudes and habits towards money by age seven, and 87 per cent of teens have trouble making everyday spending decisions. 

A recent GoHenry survey found that even among parents, 89 per cent said they would have made better financial decisions if they received financial education before the age of 18. 

Money Missions was made possible thanks to the $40m funding round GoHenry raised back in December 2020—with the fintech announcing plans to double down on its presence both here in the UK and across the pond too.

In May 2020, the kid-friendly fintech launched a biodegradable card, made from 82 per cent renewable materials, for eco-conscious GoHenry users.