New pocket money and chores app teaches kids to manage money

Gimi is a new pocket money app and chores manager that has launched in the UK to teach kids as young as six how to earn, save and manage their money.

The app, which is completely free is available on iOS and Android.

Using Gimi parents can:

• Set-up a weekly or monthly allowance for their child
• Set chores for their children to earn additional money (children can also suggest chores to them too!)
• And, create savings. All whilst teaching kids about interest rates

In turn, kids are able to:

• Track the money they’ve earned through good behaviour, jobs completed around the house, goals you set around their school work, anything a parent likes
• Set-up dream buys (such as a skateboard) and monitor how long it takes to get there.

Gimi differs from other pocket money apps through

• Inclusion:
  • There’s no need for a bank account or card. Simply login and go!
  • Other adults can send money to the young earner – for example, if Grandma wants to give a £5 savings boost, she can!
• Gimi is developed in partnership with the leading educational institutions such as Stockholm’s School of Economics to ensure children actually learn about money management.

But, why?

Cash is disappearing from everyday life and research shows that learning how to manage money can’t be done in the classroom, it has to be done through practice. Now, using digital money on Gimi, they can!