This article was recently posted on TODAYonline (article) writing about how parents have embraced giving cash and allowances to their children through online and apps. They also use these apps to teach their children about about the value of money.
Singapore has a similar system which is the POSB buddy smart system (source 1, source 2). Kids these days really learn everything so differently and adults have to adjust their teaching styles.
Though I find it a great initiative, one sad thing is that parents will be able to track all of their expenses. I remember when I was in primary school, my mum was really strict about having snacks and sweets.
We didn't have snacks and sweets at home however, I absolutely loveeeee potato chips at that time. So when I got off school at about 2pm, I would buy a packet of chips and munch on it on the way home. I mean, it was the little things like these that got me through the day. HAHA.
Of course, one main point of this is that topping up of money can be easily done as no cash needs to be taken out. The thing is that I have never really experienced life without cash until I was in my final year of polytechnic.
The POSB buddy watch acts as a fitness tracker as well and has so many uses in one. With all these new gadgets being introduced, I would need to keep myself updated with all these releases.And children right now and in the future have so many gadgets that they need to use.
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