Financial Literacy

Financial Literacy, Allowance and Apps

December 05, 2018

Chore Check featured as a financial literacy solution by CBC News.

In a recent story for CBC News, Manjula Selvarajah selected Chore Check as a featured tool to promote financial literacy. She cited a study by Cambridge University which showed that lifelong money habits are set by the age of seven. Experts (including top money coaches) agree: giving children an allowance prompts early lessons about money.
Children with allowance gain practice with spending, saving, budgeting, and reaching financial goals.
Chore Check was featured as a digital solution to teach children about money. The story highlighted allowance apps' ability to link chores to allowance, stating "Parents have the convenience of setting up recurring chores and automating allowance giving and, if they want it, tying benefits to chores."

Chore Check leadership was interviewed as part of the segment to explain how Chore Check helps families manage chores and pay their kids. Maggie Graham commented on why Chore Check works better than traditional methods of chore/allowance management. She said, "The refrigerator or a chalkboard may not have their attention, but the tablets and the phones do. An app allows for communication in real time."

Listen to the full story on CBC's Fresh Air: Listen here.
Rather read it? Check out the article.
Digital Allowance