Financial Literacy Apps and Startups

Financial literacy is an important aspect of life that will help you manage your finances like your income, debts and ultimately, learn how to grow your money. Unfortunately, in schools, we are not taught about financial literacy leaving people to use trial and error and see what works best for them. That is not a good way to go about it since you are likely to make mistakes along the way. Financial literacy companies are on the rise to help people manage their finances. In this article, we are going to list some financial education startups you can consider.

Best Financial Literacy Apps

Financial Literacy Apps for Kids

  • Greenlight is a finance education app that empowers parents to raise financially-smart kids. Apart from financial literacy, the app offers banking and investment features for kids and teens. It also offers children’s debit cards.
  • FarmZoo is a financial education app for teens, kids and parents. The app’s main product is financial education prepaid cards. It teaches kids critical financial skills through hands-on experience using FarmZoo card. Read our article comparing Famzoo vs Greenlight.
  • The BusyKid app teaches financial literacy to children. It provides financial education in the US that helps teens and kids manage weekly allowances or other money given to them for chores or otherwise. The app functions as a financial literacy tool to help any child (5+) build good financial habits. BusyKid is ideal for busy parents who feel like a personal ATM or are concerned at the lack of financial education given through the US education system. BusyKid is an excellent provider of hands-on experience in managing real money. Find our more from our BusyKid review.

Go to BusyKid website

Acorns

Acorns is an app that helps people to know how to earn, save, invest, spend and grow their money. The app rounds up your spare change from everyday purchases and invests for you. In the process, the app teaches users about investment. It promotes the concept that even people wit a small amount of money (spare change) can benefit from investment opportunities. The app has features such as charts and graphs that show you how your spare change is growing to help you understand how investment works and earn in the process.

Acorns also has an online financial literacy website, Grow, which publishes financial literacy related articles and quizzes. The app is available on Google Play and App Store.

Zogo Finance

Zogo is an app that helps you improve your financial literacy. Zogo app breaks down complicated financial topics into smaller, fun modules. Moreover, it has partnered with over 175 financial institutions in the US that will reward you for learning about finance. You can get gift cards from brands such as Target, Amazon, Starbucks and Target for completing a lesson. Its financial education lessons will teach you topics such as budgeting and investment.

Akiba Digital

The formerly financial literacy startup,Akiba Digital, has changed its focus. Instead of focusing on financial literacy, the South African fintech startup connects lenders, banks, micro-lenders, alternative lenders, fintech with small businesses and individuals in South Africa looking for loans. Akiba Digital enables lenders to better extend capital to small businesses by building an alternative credit scoring infrastructure that connects credit providers to small businesses and other consumers. The startup uses its alternative credit scoring system to provide inclusive scores that allow lenders to score people and small businesses that cannot be reached by traditional credit bureaus. Over 80 per cent of small businesses and individuals in South Africa are unable to qualify for loans through the conventional credit score system.­

Reonomy

Reonomy is a property and financial literacy platform for property brokers, lenders, investors to help them locate opportunities, risks and deep insights. It is a private company founded in the USA in 2013. The platform mainly deals with investment in real estate, offices and retail and industries.

Discover

Discover is a financial platform that offers a number of products such as cards and loans. In addition, the company aims at helping people gain some financial education. They have a wide array of products and tools for financial literacy. You will learn about personal finance, budgeting, money management skills, emergency funds, how to pay off debts. Through their publications, you can gain financial freedom by balancing spending and saving. You will also learn how to manage debts and how to pay them off. Also, if you are a student there are resources for you on how you can evaluate student loans.

Money Smart

Money Smart is a Federal Deposit Insurance Corporation’s Money Smart financial education program can help people of all ages enhance their financial skills and create positive banking relationships. You can access FIDC financial tools like games, podcasts and ways to engage with other people to improve your financial skills.

SoFi

SoFi is one of the largest student loan providers founded in 2011 in the USA. The platform helps students accelerate their ambitions by providing loans. Besides, they also offer financial education to help students learn how to manage money through Sofi Lean. Financial topics offered include student loans, home ownership, investing, budgeting, debt payoff, and insurance.

When it comes to money matters, it’s natural to have questions—lots of them. Here, you’ll find answers, plus tools, guides, calculators and more.

Lending Club

Lending Club is a platform that offers alternative affordable rates to borrowers while investors get better returns. It is an online credit platform that also provides financial literacy to its customers through its Investor Education Center.

Salary Finance

Salary Finance is a financial education and salary-linked benefits provider. Salary Finance partners with your employer to provide financial products and services including financial education that help you lead a happier, healthier financial life. Financial education offered is tailored to meet your salary and individual circumstances.

Stash

Stash is fintech startup that was started in 2015 to help people invest in the financial market. Stash has acquired financial literacy platform PayGrade. The acquisition is intended to enrich its commitment to financial literacy. PayGrade’s personal finance curriculum is used by school administrators and teachers. The curriculum simulates banking and investing. Stash will expand the financial literacy tools to parents to teach money skills at home.

Conclusion on Financial Education

Financial literacy is an important aspect of life. Since we are not taught very well how to manage and grow money in schools, finding some financial literacy companies can help you manage, have control and even grow your finances. Do you want to learn more about how to manage your finances? Find a financial literacy company that is within your field and then sign up and start learning more about money.

Vincent is a writer with an interest in finance, business, technology and health niche. He holds a Bachelors degree in Applied Statistics with computing. He is the founder of Nexin Startups; a business web portal. Read more about Vincent and see our complete editorial team at FiFi.