Educating children to use money

[img_assist|nid=9953|title=|desc=|link=none|align=left|width=66|height=100]An application known as iThryv will be distributed by Shryk LLC to schools and educators. The system was designed to help parents educate their children to properly use money and is available with versions for users as young as 5 years old. Via a cute, colorful, goofy interface iThryv teaches kids how to be responsible with money letting them categorize expenditures by "wants" and "needs".

Teenagers aged 12 to 17, young adults of 18 years were also considered and there are special versions for each of these groups. The young-adult version for youngsters of 18 is supplied with a "savings score" feature. It functions like a credit rating. If a youngster moves money to savings, his score goes up.

The system doesn’t represent a bank but it is linked with bank systems. With the initiative Shryk is determined to solve financial illiteracy problem conjointly with parents, teachers, and banks.

iThryv is to be distributed free of charge and will help to cure the epidemic of financial ignorance in the U.S. The application is not intended to make money through ads but it will sell the service to banks, with the proposal that they'll be creating customer-for-life relationships.