Benefits of the Pocket Money App
What is the Pocket Money App?
Earning pocket money is one of the joys of childhood. Many children enjoy the opportunity of doing some extra chores to earn coins to save up for something they want. Cogito Metaverse’s new launch, Cogito Pocket Money App is going to make this a lot of fun for both parents and guardians and for children and young people.
While some may argue that children should simply do their chores as part of their responsibilities, there are actually several benefits in the rewarding process. When we give children some pocket money for their completed chores, they learn the value of hard work and the satisfaction of earning money. This is an important lesson to learn at a young age, as it helps to instil a strong work ethic that will carry over into the children’s adulthood.
The Benefits
The Cogito Pocket Money App encourages responsibility while making it an enjoyable learning process. Parents and guardians can set tasks in the App and the children and young people are able to tick off the tasks as they carry them out. This encourages them to be accountable for their actions and helps them to develop a sense of responsibility. It is a unique way of using technology to familiarise young people with the need of being responsible. The Pocket Money App allows its young users (that is children) to learn that hard work pays off and that they can achieve their goals with a bit of effort. This is a valuable lesson that will serve them well throughout their lives and can be effectively understood with the user-friendly interface of the App.
Parents, caregivers and guardians can use the Pocket Money App as an effective tool to help them on their parenting journey. They can:
Teach life skills-
developing age-appropriate life skills is important for children as it allows them to be self-dependent. With tasks like cleaning the play area, making the bed and packing the school bag, children learn to take care of themselves while forming core skills like time management and decision making
Raise responsible kids-
instilling a sense of responsibility in children can take quite some time, so it is best to start young. When children are given the opportunities to take accountability of their actions they learn to be responsible and this in turn gives them a strong sense of autonomy and self-sufficiency
Develop positive money habits-
understanding the value of money is the key to leading a happy and successful life. When children learn how to earn for their efforts, save for their future and budget for their needs, they become financially aware. They can thus make financially sound decisions
Young kids can use the Pocket Money app to understand about the working of money and the value of their effort in the world. They can:
Earn for their work-
it is important that children learn the value of the work they are doing and this only happens when they are rewarded for the same. This gives young kids the confidence to appreciate their hard work and build it into a lifelong skill that can be monetarily rewarding
Learn to manage money-
in the world today children are expected to have the know-how of money. For this it is necessary that they learn to manage their finances through regular earnings and savings. This therefore sets them for a money secure future and makes them financially literate
Grow to be independent-
when children take responsibility of their daily tasks, whether it is finishing their homework or keeping their room clean, they develop the ability to be self-reliant. As every day they earn for their learning, they gradually develop the courage and the confidence to operate as healthy independent individuals in the society
In Conclusion
With the Pocket Money App, we aim to build a world where children understand the working of personal finance while learning to be responsible and independent. At the same time, our endeavour is to ensure that our App aids caregivers on their parenting journey.
In the next few weeks, we will add an information page and some frequently asked questions to the Cogito Metaverse website. In the meantime, you can find the App and explore it through the logged in section of your Cogito Metaverse account.
