Published: 17th November 2020
Through India's first kids' fintech app Birdfi, children can now learn tricks of money management
By following a few simple tips offered by Birdfin, your kids can be on their way to master their goals. It can simply help kids to learn the tricks of money management
Financial learning can be boring, and at times, complicated for youngsters. Whether it is teaching the value of hard work, earning, or investing, it is still imperative that these habits are inculcated in the kids at an early age by creating a stimulating learning environment.
Learning money does not have to be a gruelling exercise anymore. By following a few simple tips offered by Birdfin, your kids can be on their way to master their goals. It can simply help kids to learn the tricks of money management, inspire them to earn and save more in a systematic way.
Birdfin is set to revolutionise the space of learning financial habits through 'gamification'. Built on the entire life cycle of money management, learn, earn, spend, and save, the app enables parents to schedule tasks for their kids and offer Digital currency in return.
According to the Birdfin Founding Team, "Financial independence is quite crucial for anyone, not just kids. But life skills or money-management must be taught in an engaging fashion. That's when we planned to leverage "token economy" and "gamified" the learning experience via Birdfin."
The Founders added, "Additionally, parents may approve or re-assign a task, to make kids more efficient, the platform is offering Crystal as a digital currency for families. Kids are encouraged to earn "Crystals" when they successfully complete a household task. They can earn, manage, save and spend these crystals by converting into real money thus get a first-hand experience of managing money on their own, by channelising the savings to kids' bank accounts."
Birdfin is a web-based app (accessible on any device) developed by MyDigitalCube and has been launched on October 31, 2020. The Co-founders' team is from the Financial Services and IT industries-Sandeep Suri (Ex-Fidelity & Executive Coach & Mentor), Ritesh Mehrotra (Ex-Fidelity & Entrepreneur), Swapan Kumar Dutta (Entrepreneur & Career coach), Rajeev Chadha (Ex-Accenture).
Supriya Radhakrishnan, Doctoral candidate in Educational Psychology in Applied Behaviour from Baylor University, Texas, the USA as an advisor. Birdfin has successfully tied-up with Amazon (for the affiliate program), CRY (for their engagement with the local chapters across the country), Shamrock School, Mohali (as their educational partners), Vicky sports (as their Sports & Fitness partners), and Srimiri (as their Nutritional food partners)
With Birdfin, the team envisions a future where kids stay relevant by learning the importance of money and are well-positioned to reap the benefits of financial literacy once the clock ticks over on their 18th birthday.