On the heels of the Financial Literacy Week by Reserve Bank of India, Flipkart co-founder Binny Bansal has launched Money Lessons by BrightCHAMPS, a graphic novel-cum-handbook for kids from 6 to 16 to learn about money. The book will also be released and distributed at the ongoing GSV-Emeritus All Eyes on India Summit in Gurgaon.
It is currently available on Amazon and can be accessed through the accompanying Money Lessons app on Play Store and App Store.
The book and app are said to be in line with BrightCHAMPS’ vision of helping kids become financially independent, secure and poised for freedom even before they start earning money, instead of learning lessons the hard way.
Given the not-very-impressive number of financially literate adults worldwide, imparting financial education to kids from a young age has become a necessity. Recently, Michigan and Florida made personal finance mandatory for high school kids, taking the total of US states that have instituted this requirement to 14, said the company.
In India, 27 per cent of the adult population is financially literate. And according to an illuminating OECD report, the average financial literacy score in five Southeast Asian countries (Malaysia, Indonesia, Thailand, Vietnam and Cambodia) is under 13 per cent, while in the US it is at 57 per cent, Flipkart added.
“Money Lessons is the result of months of hard work, research, and fact-checking, to ensure that kids as young as 6 can understand money-related concepts in an age-appropriate and unthreatening manner. My hope is that every kid around the world is able to access it this knowledge by way of the book, the accompanying app, or through their school,” said Ravi Bhushan, founder and chief executive officer (CEO) of BrightCHAMPS.
"Money Lessons is a book that helps kids learn essential lessons like spending, saving, investing, loans, banking, currencies, and the changing value of money in an age-appropriate and meaningful way,” added Binny Bansal, Flipkart co-founder and an investor in BrightCHAMPS.
Money Lessons is a graphic novel, which covers topics such as the evolution of money, different kinds of money, banking, value, spending, saving, borrowing, investing, exchanges, currencies, demand, supply and more. Complete with adventures of two aspiring teenage superheroes - Max and Ray, gripping puzzles, activities, exercises and games, the book attempts to capture kids’ imagination and present to them practical tips, tricks and knowledge that can be applied to real-life scenarios at every age. The book is also accompanied by an interactive app that encapsulates the written word, providing the kids with an immersive experience for deeper understanding and return of complex concepts.