A kid’s brain is like a sponge soaking up information, which makes childhood an ample timeframe to learn about many topics — including money. It’s especially important since teaching good financial habits early on can help make them successful as they grow.
One group of teenagers in Charlotte, North Carolina aims to do just that. They’ve created a new startup called Tickets2TheFuture which allows peers to start learning about money and good ways to earn and save it.
“We want people to have the power of knowledge,” co-founders Griffin Bohmfalk told local news station WCNC. He, along with three other incoming high school seniors friends, conceived of Tickets2TheFuture after first starting an investment club at school and wanting to expand after realizing the need for greater financial tools for young people who are starting to work and earn wages.
“We saw how many people lacked a basic knowledge about finance and we wanted to go back to basics,” co-founder Ethan Jacobs told WCNC. On the platform’s official website, the co-founders point to the Financial Industry Regulatory Authority’s annual financial literacy quiz, noting that only one-third of participants typically have more than 80% accuracy. Their purpose is to fill the gaps in the “widespread financial illiteracy in our country.”
Launched in July, Tickets2TheFuture mainly targets teenagers using influencer social media platforms like TikTok and Instagram to spread awareness. Recent posts have included video tutorials on the stock market and how shares work, what inflation is and how to open a bank account — as well as why it’s important to do so.
However, they also have tools for younger children with entrepreneur starter kits, including a guide to setting up neighborhood lemonade stands. In the future, they plan to host events and workshops with financial experts.
There’s plenty of advice online about teaching kids good money habits. Forbes, U.S. News & World Report, NPR, Parents.com and countless other outlets espouse teaching kids the value of a dollar, giving them opportunities to earn money and using real-world examples of going to a bank to instill financial know-how into growing minds. Even institutions like Chase and Fidelity have options for “First Banking” and a “Youth Account,” respectively, that give kids access to their own bank accounts and debit cards.
Tickets2TheFuture is one of the first money forums made by kids for kids, which just might be key to making such valuable money lessons stick.
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This article originally appeared on GOBankingRates.com: Financial Literacy Goals: These High Schoolers Aim To Teach Their Peers Better Money Habits