Chore/Allowance Platform Delivers Hands-on Education on Investing for
PHOENIX–(BUSINESS WIRE)–A recent study on parents, kids and money by T. Rowe Price has once
again shined a bright light on the struggles American families are
facing when it comes to financial matters. The results are especially
troubling when the topic turns to what kids know or try to learn from
parents when it comes to earning, saving, spending or investing,
71% of parents have some reluctance in discussing finances with their
kids, even though over 80% believe it’s important for the kids to know
about saving, earning, budgeting and setting goals.
63% of parents say they have at least two opportunities each day to
discuss financial matters with their kids, yet 56% say they don’t take
advantage of the teachable moment.
- 41% of parents have ever discussed investing with their kids.
To help parents open a dialogue with their kids about investing and
provide real hands-on experience with the world of stocks, BusyKid
has partnered with Stockpile.
The partnership with Stockpile allows BusyKid to become the very first
chore/allowance platform that allows kids to use their allowance to
purchase real stock of brands they already love and use.
“Investing is a major component to financial success, yet this is never
explained to kids until they get to college … if even then,” notes
Certified Financial Planner and BusyKid CEO Gregg Murset. “Most schools
fail to teach finance, and studies continue to show that parents feel
inadequate filling the void. Our hope is that families will work through
the BusyKid and Stockpile systems together in order to learn how
investing can help build a strong financial future.”
mentioned twice by Consumer
Reports as a great way for kids to get started investing, is
revolutionizing the investment world by making it easy and affordable
for anyone to be able to buy, give and own stock. Founded and
headquartered in Palo Alto, Calif., Stockpile promotes financial
inclusion, empowerment and literacy by enabling access for all to the
financial markets. Stockpile gift cards — available at over 14,000
retailer locations and online — can be redeemed for stock in most
“We’re thrilled to be working with BusyKid to make the stock market more
accessible, affordable and understandable for American families,” said
Dan Schatt, chief commercial officer of Stockpile. “Stockpile custodial
accounts allow kids and teens to track their stock and ETFs and take a
much more hands-on approach to learning about their investments.”
BusyKid is the first online chore/allowance platform where kids can
earn, save, share, spend and invest real money wisely. BusyKid is
available on all mobile devices and operated by the same team that grew
MyJobChart.com to nearly 1 million members. Though it has the same
overall objective as MJC, BusyKid is easier to use and more robust, and
allows kids to receive a real allowance from their parents each Friday.
No more points or trying to convert imaginary money.
For more information about BusyKid and its partnership with Stockpile,
Asylum Public Relations
Laura Baumgartner, 480-264-5133