Financial literacy for students is an important tool to improve the financial capability of our youth and communities. Teaching kids about money has a great impact on their future. Thanks to Will Smith and Nas for investing in a start-up company, teens will now be able to learn financial literally from a new app. Step is developing an app that will give teens access to bank accounts and advice on how to manage their money. The app will integrate with Apple Pay and other online money-moving apps. It will also give parents the option to monitor the account and set limits and guidelines.
The Step CEO and co-founder, CJ MacDonald stated, “Schools don’t teach kids about money. We want to be their first bank accounts with spending cards, but we also want to teach financial literacy and responsibility. Banks don’t tailor to this, and we want to be a solution teaching the next generation of adults to be more responsible with money in the cashless era. It was easy with cash to go to the mall but now everyone is using their phone for Uber and more.”