Be honest with us: Where did you learn the most important things you know about saving, spending, and just generally being able to manage your money? From your family? On TV? In movies? From your goofy college friend who wore bunny slippers and gym shorts to class?
If you’re like most of us, you picked up a little here and there, and a lot of it was not very well organized or totally accurate. Even if your parents worked at a Credit Union (lucky!) and gave you a ton of great money advice, the world keeps changing and we have to keep up, right?
To help you out, Simplicity CU is excited to announce our new partnership with Zogo, a leading financial technology company, to bring Zogo’s app to its members, their families, and the communities we serve.
The app, which was developed by a group of Duke University students, guides teens and young adults through 300+ bite-sized financial educational modules. As users successfully answer questions, they accumulate points that they can redeem for gift cards and other cool rewards.
84% of teens say they look to their parents for information about money, according to a study by Junior Achievement. However, parents often feel unprepared to play this role. In a survey by EVERFI, only 43% of parents felt they were “well prepared” for money conversations. As an alternative, T. Rowe Price reports that 3 out of 4 parents think financial apps are a good way to teach financial literacy. All of Zogo’s content meets the national standards for financial literacy!
“With 2020 highlighting both the need for sound financial habits to help people of all ages weather a turbulent economy and the challenge of finding trustworthy, mobile education, we knew it was the perfect time to introduce the app,” said Sarah Arnoldy, Simplicity CU Vice President of Service “We loved that Zogo combines a digital approach with insights from Duke University behavioral scientists to engage the next generation.”
“Growing up, we didn’t have good experiences learning about personal finance,” added Bolun Li, CEO and co-founder of Zogo. “With Zogo, we wanted to create a financial education experience our peers would actually use. We are excited to partner with Simplicity CU to bring this vision to life.”
But make no mistake, friends. Zogo may be custom-built to give Gen Z top-rate financial insights, but its fun, easy to use design and in-depth knowledge about a huge range of money matters makes it a great option for full-grown-adult-types too.
Ready to check it out? We knew you’d want to!Learn more and download the app today!