Comments on post “Current Student Account”
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Eric Friedman
@ericfriedman · Head of Expa Labs
Hello again Product Hunt community!
Current is launching a new product today, focused on helping people manage money with family and friends with a smart debit card. A smarter financial system for kids means automated payments, spending controls, allowance handling, and insights when the card is used. If you have children and care about their financial literacy and how/when/where they are spending, you are invited to checkout the Current Student Account.
As always, this community provides great feedback and any questions or comments are welcomed!
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stuart
@soppstu · CEO Current
@ericfriedman
Thanks Eric - I appreciate all your help!
Hey everyone: We’re really excited to finally take the wraps off of the Current Student Account - a new solution to digitize allowances, teach teens financial literacy, and provide parents with more control on how children spend their money.
It’s no question we are moving to a cashless society - yet the concept of allowances remains firmly footed in the past. In America, nearly 17 million teenagers don’t yet have access to digital payments solutions. They either pay for things with cash - providing parents with no insight on what their kids are buying, or have to rely on their parent’s credit cards, which doesn’t teach any form of financial responsibility.
The Current Student Account has two components: a Visa-branded debit card and an app that provides parents and their children ways to mutually agree on allowances, how their money will be spent, and the chores and responsibilities needed to gain access to those funds. Money can be spread among three wallets: The Spending Wallet to track expenditures, The Savings Wallet to teach financial literacy, and The Giving Wallet to help teens identify local charities they can contribute to.
If you know of parents with kids who need to learn financial literacy, we’d appreciate you sharing the word!
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