NuMoola was created to build a digital economy for kids ages 5-12 that focuses on making financial literacy fun for kids through gaming, chore management, and goal setting, all connected to an FDIC-insured bank account. NuMoola is a 100% kid-focused savings account that provides a better way for kids to interact with their money, all under guidance parameters monitored and controlled by parents. NuMoola helps parents and their children discuss money topics when it starts to matter.
NuMoola is designed to be a collaborative platform that allows kids and parents to set up saving, spending, and charitable giving accounts to manage how kids interact with their real money. Within NuMoola, parents are able to directly contribute money and manage chores, while also establishing guidelines for how the child uses their money. Kids use NuMoola to become educated about their assets and other financial literacy topics in a modern and fun way using gaming and age-appropriate educational content, which teaches and engages in increasingly complex financial literacy topics. Parents and kids work together to manage chores and teach kids what to do with the allowance they earn or gifts they receive. NuMoola is a simple tool that comfortably encourages kids and parents to have offline discussions about money topics.
NuMoola’s founding principle is to teach kids how they can save their money now so that in the future they can draw on that money to use for experiences that are meaningful for them or charitable causes they believe in. NuMoola: When Money Starts to Matter!
