Money management may be a challenge for children and adults alike. However, an app helped two Gainesville brothers learn about financial literacy and save over $2,000 combined.
2 brothers receive national recognition
Lucius Figueroa, 14, and August Figueroa, 11, were honored for being BusyKid’s Top Performers of 2023. The Figueroa brothers are among the 50 children who were selected across the nation.
Each child who received the honor of being a BusyKid Top Performer received a $100 bonus added to their account and a special badge added to their app dashboard.
App helps parents and children with financial literacy
BusyKid was created in 2020 by CEO and Founder Gregg Murset, 50, to help parents and children between the ages of 6-17 years old get direct experience earning, sharing, spending, investing and saving real money through the app by completing chores.
The app provides kids with VISA debit cards to help them manage their own money after completing tasks.
“I’ve been working with clients for over 20 years and I’ve come across successful business types and they worked really hard and they know how to work with money,” said Murset, an Arizona State University graduate with a bachelor’s degree in finance.
Murset, who is also a certified financial planner, said he wanted to create a practical tool for children to get a head start on money management.
The BusyKid app allows parents to distribute funds to their children once chores are completed and the money is allocated to three different areas: spending, sharing (charity) and investing, Murset said.
App teaches to earn and not burn money
“This is a practical tool to let them practice how money works,” he said. “We want to teach them the importance of earning it and not burning it.”
The Figueroa brothers’ performance stood out to him because their accounts had no declines and a significant amount of savings, Murset said.
Lucius Figueroa saved $600 and August Figueroa saved $1,500, Murset said.
“This is…
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