“Traditionally, when pocket money was given as cash, children could see how their fortune dwindled with every transaction by counting what was left,” Louise Ferslev, the 26-year-old founder and CEO of MyMonii, explains. “The digitalisation of money is convenient and inevitable, but we’re in danger of losing our sense of the palpability of money along the way.” When money just stays in the parents’ bank account and they never see it, children become disengaged from the transaction process. “I’ve heard of lots of children telling their parents to simply ask the supermarket cashier to give them more money, having seen their parents ask for cashback, for example,” says Ferslev.
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