Mobile Money management for teenagers
Teenagers are always in need for advice and help to fulfill their daily needs. Daily needs are in terms of Money as well as guidance for better path to progress in carrier. Parents often play important role as financer, teacher and guide as well.
Most teens between 12 and 17 get pocket money monthly from their parents. They used to spend it on movies, mobiles, cloths, food etc. Hence they inclined to spend rather than to save money .Teenagers girls are more likely to spend than boys.
To overcome their financial literacy teaches them different ways to save money from daily earnings. Different ways can be used to fulfill this task.1) you can help your teen’s financial goals become reality. Start by asking your child to come with you on your next trip to the bank. Open bank account for them which they will manage by their own. They will deposit and withdraw pocket money received from parents. Many banks offer savings and checking accounts tailored for young children as well as teens 2)Teach them to save for future needs like cloths ,food ,movie education etc. Parents can educate their teens on how small savings can add up.
It is hard to believe and to expect from students of this generation to use the traditional pen and paper method in their everyday lives. A user-friendly mobile web application is used, that allows students to track and manage their finances. Mobile money management refers to both mobile payment and mobile banking capabilities. For payments, the consumer uses a mobile device for initiating, authorizing and realizing a payment. These transactions can take place by using the mobile device with the use of credit card, debit card or net banking payments
Mobile money management provided a big opportunity for today’s banks and financial sector institutes .It will be helpful to overcome daily rush at bank. Also it will be helpful to provide extra comfort for the account holders to maintain their transactions from home with the help of mobile devices. Banks can achieve high performance credit growth and image over the others.
Today’s teens have parents on reaching life goals through wise spending, saving and investing. By Using an online calculator to elaborate how much can be saved if we started saving right away Teenagers can operate their banking account with security from anywhere with the use of secured credentials by using mobile devise Hence they will get responsibility and understanding the benefit of savings. This will help them to achieve their expenses for studies, fees, books etc.
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Anindita Dass is armed with engineering degree, moved on to creative writing. Apart from this Annie loves sketching and reading novels. Not to forget, Annie is rebel of a girl is what the world thinks she is. Truth is-so does she!