If you’ve turned on the news recently, chances are you have heard about what’s going on in the stock market lately. The world of money can be a scary place, especially without the tools or knowledge necessary to navigate through it. It’s clear that we need to be doing more to provide these tools and education, and its important to start young.
Children can get a sense of how much things cost as early as age 3, and the lessons built over the years will help them understand the costs of living and responsibly manage their finances in the future. We chose a #WebsiteWednesday this week that fills the gap that children have in their education, and provides families with the tools to understand finances in the modern world: Boomerang.xyz.
Boomerang.xyz provides a complete online and mobile banking solution for families, with a user friendly design for all ages. This platform gives you the ability to automate allowances, set earning and savings goals, create wish lists, and exchange goods and services while eliminating cash payments. One of the most important elements of Boomerang.xyz is the educational material incorporated into the site which makes learning is an active part of the experience.
When asked about why they chose their name Boomerang.xyz, Founder and CEO Myles Binford said they needed a name that would appeal to all ages:
“What I liked about .xyz was that it was simple. Its xyz – the alphabet. TLDs are changing these days; the dot com is fading and opening the door for others. We wanted something simple, easy to remember, and makes sense for families, teens, even kids who use this solution to get out of the Stone Age of piggy banks” -Myles Binford
In this unpredictable world, the importance of responsible financial management is more and more prevalent. Boomerang.xyz provides an all-inclusive approach to family financials while simultaneously empowering children to understand earning and spending money. Not only is this start-up doing big things, its enabling future generations to be successful in starting their own businesses down the line – way to look out for Generations X, Y and Z!