Nestlums – an innovative app to teach children about the working of money in our virtually cashless, digital world, where it may seem invisible to them – launched today and is already trending on the App Store and has been for us on site too which is really great news for the company.
Wayne Travis (Creative Director of a leading fintech company, Thought Machine) and his team mates, as parents concerned about their young kids limited understanding of money in our increasingly cashless digital world, decided to create an app to teach them the essentials, in the form of a game so enchanting they will be begging to keep on playing and learning:
Neslums is a new mobile app which offers modern money training for children through a unique, character-driven, gamified experience, without connecting to a bank account or touching any real money.
The modern digital world presents new challenges in teaching children about money. Research released today by Thought Machine shows that in 1 in 4 UK families, a child had made an unauthorised purchase online. When it came to parents teaching their children about financial literacy, 80% believe it is important that their child learns financial literacy concepts from an early age. Although 1 in 3 parents said that they were unsure their child currently has the necessary understanding of financial literacy concepts for their age.
The release of the research coincides with the launch of Nestlums, a new mobile app created by Cauldron in partnership with BAFTA nominated game developers Glitchers. The app offers modern money training for children through a unique, character-driven, gamified experience, without connecting to a bank account or touching any real money. The Nestlums team hope the app can provide tangible support in building financial understanding, especially where digital money is concerned.
“We know that getting to grips with money can be hard for kids, especially as it becomes increasingly less visible in the modern world. My seven year old daughter barely has a clue what’s going on when I tap my card in a shop!”explains Wayne Travis, Creative Director from Cauldron. “With the growing prevalence of virtual currencies and the rise of the dreaded in-app purchase, we wanted to reinforce the idea of earning money honestly, appreciating the value of money even if you can’t see it or touch it, and not blowing it recklessly.”
As families have been spending more time at home, it is likely children are also spending more time online. The Nestlums team hope the app can provide tangible support in building financial understanding, especially where digital money is concerned.
Nestlums can be downloaded from the Apple App Store or Google Play Store for a one-off payment of £2.99, and features no subscription charges, in-app purchases or advertising.
For more information on Nestlums, visit: https://www.nestlums.io