Young Money 5.1.6

Young Money is a digital financial and savings platform designed for children and adolescents aged 7-17, alongside their parents.

This app provides an intuitive way for users to track their income, savings goals, and spending securely. The language and features are automatically customized based on the user's age, ensuring that the experience is age-appropriate for users at different stages of development.

Both children and parents must be customers of one of the banks that offer Young Money. For users aged 7-17, the app enables them to:

• Continuously monitor their available funds and track spending.
• Request money from their parents.
• Transfer funds to their parents.
• View potential earnings by completing regular or one-time tasks set by parents.
• Keep track of debts owed to them and by them.
• Receive ongoing messages with insights based on their financial activities.
• Understand cash flow by tracking incoming and outgoing funds.
• Create, modify, and prioritize savings goals.
• Calculate realistic timelines to achieve savings objectives.
• Select an avatar or upload personal images for their profile.
• Receive monetary gifts from parents.
• See if parents have set up additional incentives for achieving savings goals.
• Achieve a high streak score by staying engaged with their finances.

Parents can benefit from the platform by:

• Monitoring their child's spending and savings goals.
• Transferring money to their child’s account.
• Creating regular and one-time tasks for their child.
• Boosting their child’s savings goals to encourage positive financial behaviors.
• Sending monetary gifts to their child (including options for physical cash gifts).
• Receiving funds from their child.
• Accessing continuous informational messages with insights and required actions.

The Young Money app can facilitate important conversations about healthy financial habits within families, laying a strong foundation for better financial literacy. For more information, visit www.youngmoney.dk.