A lack of financial education for kids and teens can often snowball into young adults who are ill-equipped to manage their money. A new benefit offering that provides a kid-safe debit card and instills early money-minded lessons is working to provide families with a better way to guide their children to a more secure financial future.
According to a report by Annuity, fewer than half of people ages 18-68 scored above a 51% on a financial literacy test. Meanwhile, three quarters of teens say their personal financial knowledge comes from their parents, and feel less than confident when it comes to matters of money. Parents echo this insecurity, with a survey from fintech company Greenlight finding that they rank financial literacy as the number one most difficult life skill to teach their children — 81% say they wish they had more financial education resources.
