As advisors adopt web portals and mobile apps to attract millennials, Gregg Murset is using fintech to serve children who have yet to even learn their multiplication tables.

Murset, a Scottsdale, Ariz.-based financial planner, is the founder of BusyKid.com, an application intended to help children learn about saving, spending, investing and through household chores and allowances from parents.

“We wanted to simplify the household allowance and use it to teach young kids how to work, make money and make good decisions with that money,” says Murset. “Financial abstraction means that money has become invisible; we don’t carry cash around with us anymore, so we need to teach children how to manage money when they can’t see it.”

Families can access BusyKid from the web or a mobile app. An online chore chart lies at the heart of BusyKid, with recommended chores and payments preloaded for different child ages.

The mobile application is an ideal method to reach today’s children, notes Murset, as their proficiency with smartphones and tablets is developed at very young ages.

Parents can add, remove or reassign chores and payments for their children, and kids can report whether they completed a chore or activity. When a chore is completed, the application sends a message to parents prompting them to allow money that will reward the child to be moved from their bank account to a holding account.

“Kids are really connecting with technology these days and using it as a medium to learn,” says Murset. “It’s effective, and it represents the world they’re living in. When they watch a parent swipe a card or tap their phone to make a payment, they need to understand why that’s important.”

Each Thursday, BusyKid sends a text message to parents prompting them to approve an allowance that compensates children for all of the chores they have completed, with payments received on Friday.

The online allowance can be used to buy gift cards, make a donation or invest in company stock, and parents may determine what percentages of an allowance may be used for spending, saving and donation.

BusyKid allowances can be used to purchase gift cards to retailers like McDonald’s, iTunes and Amazon, among others. The platform also supports charities like the American Red Cross, Big Brothers Big Sisters, the Make-A-Wish Foundation, the Humane Society of the United States and Toys for Tots, among others. In addition, the application partners with Silicon Valley-based Stockpile to help children purchase gift cards that can be exchanged for whole or partial shares of company stock.

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