Talking Business with Alan Kohler

Mario Hasanakos Co-Founder of Spriggy


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Spriggy is an independent technology and education company, helping families teach their children about money in today’s digital age. Spriggy’s app and prepaid card are available for children as young as eight years old to use with their parents. As the world becomes increasingly cashless, teaching children about money is more complex than ever. Spriggy aims to solve this problem, helping parents teach their children about concepts of earning, saving and responsible spending online.
Parents can sign their kids up for a Spriggy card online in a matter of minutes, draw funds from any bank account to add to the card and set up automated pocket money payments. The app allows parents to manage multiple cards at once, view transactions in real time, and lock and unlock cards instantly at their discretion. Kids and parents can set savings goals and view their transactions on the app, setting up separate accounts for spending and saving.
The Spriggy prepaid card can be used online or in-store, anywhere that accepts Visa. To date over 155,000 members have joined Spriggy! 500+ members daily. Spriggy is a debit card .
Spriggy users can only spend the amount that is available on the card, so can never overdraw. Parents can track saving/spending and send money to their child's card anytime, anywhere.
Spriggy commissioned research into Aussie parents’ attitudes towards pocket money, financial education and the digital economy. The research is based on a nationally representative survey of 1,000 Australians with children aged 8-17, conducted by Pureprofile in January 2018
Key findings include:
More than 40 percent of Aussie parents believe children don’t learn enough about money at school
More than a third admit to being worried about their children’s understanding of digital money, yet nearly 80 percent of parents continue to provide pocket money with physical cash
Almost a third of mums and dads admit to experiencing financial debt, and wanting their children to learn from their mistakes
More than half of Australian parents use pocket money primarily as an education tool. Spriggy carried out research with it's own member base for the Launch of Jobs (early Nov).
77% of parents give their kids pocket money on a regular basis. 79% of parents think their kids should 'earn' pocket money through doing jobs. 80% of kids earn their pocket money by doing specific jobs, but 51% have the ability to earn more money by doing more jobs. Parents ask their kids to do anywhere from 3 - 10 jobs to earn their pocket money. The majority (58%) do 5-6 jobs. 82% of parents say the jobs change as the kids capability increases in age.
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