nimbl listed in Knowyourmoney’s top finance apps
We are excited to announce that nimbl has been featured as one of Knowyourmoney’s top finance apps for children!
The list recognises apps that help children to manage their finances, learn good budgeting and saving habits, and understand the value of digital money. It contains apps targeted at very young children, as well as those aimed at older children and teenagers, with a mixture of games, prepaid cards, and online accounts included.
Knowyourmoney, which was established in 2004, is an award-winning financial comparison website that compares a variety of financial products for individuals and businesses, including bank accounts, mortgages, and credit cards.
They compiled the list of top finance apps to highlight some of the resources on offer to help children get to grips with money. With a growing number of payments being made digitally, it is increasingly useful for children to understand the value of virtual money through apps instead of, or in addition to, cash and piggy banks.
John Ellmore, Director of Knowyourmoney, explained why nimbl made it onto their shortlist:
“Whilst it’s important for children to have an element of financial freedom, we also appreciate that parents may want to supervise how they use their money. nimbl’s features, which allow parents to set spending limits and receive spending alerts, are particularly useful for this.
“The prepaid debit card combined with the app strikes a good balance of allowing children to be fairly independent with their money, but within a secure enough environment that there’s no danger of running up excessive overdrafts or fees.
“With the ability to transfer money electronically to the child’s account, the app replicates a lot of the features of a ‘real’ bank account. We believe this practice on a child-friendly platform is key to making children more financially confident. nimbl allows children to gain experience in budgeting, saving, and spending using a card, which is invaluable preparation for dealing with their finances as they get older.”