Youth money management app, Mydoh, launches in Quebec helping parents raise money-smart kids and teens

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Youth money management app, Mydoh, launches in Quebec helping parents raise money-smart kids and teens /* Style Definitions */ span.prnews_span { font-size:8pt; font-family:"Arial"; color:black; } a.prnews_a { color:blue; } li.prnews_li { font-size:8pt; font-family:"Arial"; color:black; } p.prnews_p { font-size:0.62em; font-family:"Arial"; color:black; margin:0in; } .prntac{ TEXT-ALIGN: CENTER } Canada NewsWire A new survey commissioned by Mydoh found that 85 per cent of Quebec parents feel some aspects of financial literacy are a challenge to teach their children MONTREAL , Sept. 12, 2024 /CNW/ - Quebec parents agree that it's essential to broach the subject of money management at an early age, but many struggle with teaching certain aspects of financial planning to their children, according to a new survey from Mydoh , the money management app for kids and teens powered by RBC. With the Mydoh app, which provides parental oversight, Quebec families are better equipped to build healthy financial habits together. Mydoh offers both a digital platform and a physical Smart Cash Card (a prepaid Visa card), that empowers children to save and spend wisely, and helps prepare them to handle their finances in the real world with the added bonus of no monthly fees. "Parents play a crucial role in their children's financial education, but they don't need to do it alone," said Brigitte Felx , financial planner, RBC. "From budgeting to the value of money, teaching children about money management can seem overwhelming for parents, many of whom missed out on early financial education themselves. With a safe and easy-to-use digital tool like Mydoh , parents are better equipped to coach and support their kids in grasping the value of money and can help develop essential financial literacy skills." The innovative platform provides a solution to an increasingly common challenge for parents. In the survey commissioned by Mydoh , 83 per cent of Quebec parents of children aged 11 to 14 said that instilling financial literacy at an early age is essential. But 85 per cent of Quebec parents said discussing some topics related to money – including budgeting, savings, the value of money, and responsible consumption – with their kids was a challenge. It can be hard to approach these money conversations in the household for some, but it doesn't have to be. 'Odd jobs...

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