In a run up to create awareness on their Olympiad in financial literacy for teens named FINMANIA, muvin, a teen-centric pocket money app and Mompresso.com, have shared findings of a consumer survey based on responses shared by 600 teens studying in grades 7th – 12th along with their in Delhi, Mumbai, Kolkata, Bangalore, Hyderabad and Pune. Saying that an overwhelming 80% of Indian students use cash as their primary mode of making payments, and 22% of them being confident of using digital payments these digital platforms have concluded that there is wide scope for financial literacy among them.
Talking about parents, the survey says that majority of the surveyed parents (96%) felt that their children do not have enough knowledge about money management toolsand need a trusted source to imbibe financial education. Mukund Rao, Co-Founder, muvin says, “Our vision is to empower India’s 250 million youth and teens with digital financial inclusion and financial literacy. All of our current solutions including our pocket money app, prepaid card and the RuPay keychain are fully self-assisted and self-managed, empowering India’s young teen consumer base to experience financial freedom in a simplified and secured manner”.
muvin is conducting FINMANIA, for students at over 200+ schools in Mumbai, Delhi NCR, Bangalore, Hyderabad, Chennai & Pune and will be open for online participation to students from across the country. It will test the financial knowledge of teens. The registrations are open from 28 August till 28th September 2022. However, it was not stated if their will be any prizes or awards for the same.
