Clemens and Richard met in college. Clemens grew up in Austria. He saved money every week in his passbook since the age of 6, he received a debit card at age 12, and started his first investment account at age 14. Richard grew up in the US. He got his first bank account when he stepped on the plane to go to college, his first credit card when he was 22, and his first investment account at the age of 24 (after he met Clemens). The difference between their financial lives was obvious.
In the US, there are millions of people who are growing up the same way that Richard did, and the results are apparent. In a low interest bearing economy, few people in the rising generations save money, and bad spending behavior is nearly engrained. So why don't kids in the US receive better experience with handling money? Well, in an age of digital money, it's really difficult to teach good money habits to kids, when instant gratification is stronger than ever. And the fact that parents are using cash less and less is only magnifying this concern. Now, imagine a child who is trained to be forward thinking with their money, to think, "I'll wait," instead of, "I want." A child who understands what to do with money. Image also that a parent gave them this experience even in an age when the world of money is moving digital, and felt safe doing so. Well, that's what we wanted to build, and we built it.