A new app, developed by Daniel Attard – a Department of Artificial Intelligence student at the University of Malta, has set the goal to help children understand better the way they could save money and track their expenses.
During a press conference, Hon. Minister for the Family, Children’s Rights and Social Solidarity, Dr Michael Falzon presented an award to Mr Attard marking this momentous launch. The app ‘Karus’ will serve as a means for parents to provide pocket money to their children following the completion of specific tasks. These tasks might be attached to house chores for example, such as helping keeping a tidy and organised home.
Parents could set rewards in the form of points which are then converted into pocket money for when they deem their children have completed such tasks. This will also work on the cognitive abilities that children would acquire in relation to the value of money.
As part of his prize, Attard received a cash reward of €3,000 whilst also given the opportunity to further develop his idea into a prototype app. In reaction to this, Minister Falzon emphasised on how important it is for children to get a good grasp of financial literacy at an early stage as this would serve them well later on.
Speaking to Toppin’ Up, Daniel expressed that “No project comes without its challenges and this was no special case. Despite this, completing such an application is very fulfilling, knowing the impact it will have on future generations on their financial behaviour.”
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