The Gimi Education Manifesto
We live in a changing world. A world of rapid socioeconomic transformation, digitalisation and technological change. For young people, this means more challenging financial choices and more uncertain job prospects.
Our brains are not really designed to manage money. We naturally prefer squandering money on stuff that makes us happy today instead of setting it aside for the future. But it’s not about how much we're actually spending. It’s about wellbeing.
Financial habits are formed before the age of 7.
Unfortunately, young people often lack the education, training and tools required to make informed decisions on matters affecting their financial wellbeing.
Traditional financial education is not working, particularly in comparison to other subjects they are taught. Learning to navigate an increasingly complex financial landscape calls for a new approach to financial education. Not only do children need skills, they also require an immediate opportunity to put them to use, or else they will simply disappear.
This is where parents come into play. There is vast evidence pointing to the importance of parental involvement in developing financial literacy. Let’s call it “financial socialisation”. Combining this with real-life experiences of managing money is where the magic really happens.
Nonetheless, more than half of children never get to manage money themselves. Their parents simply buy them what they need. Is it because society is going cashless? Probably. Does it have to be this way? Not at all. Families need financial services that fit in to their everyday life.
With Gimi, children have a tool that allows them to experience money management. Gimi allows you to schedule an allowance, assign chores, reach your goals and keep track of spending. Parents get full insight into what their children are doing and they can browse our bite-sized educational lessons for support.