The responsible handling of money should be taught to the youngest of us. But that's not exactly easy.

First of all, children have to get a sense of what material values are in the first place.

Add impatience to that: saving and waiting to fulfill your wishes is just not a childhood strength.

For this reason, Credit Suisse is getting involved in this field with an innovative solution that helps parents with their children's financial education.

The Viva Kids banking package contains a private and a savings account, in addition to a digital money box called "Digipigi" and two apps – one for the child and one for parents.

Setting Up and Achieving Saving Goals

Digipigi and the related apps support children and parents from the first pocket money to fulfilling their individual saving goals. The desired item is entered in the app with a photo and the price; every centime paid in brings little savers closer to their wish.

Digipigi rewards all deposits with a happy face on its display. This incentive makes the savings account grow and helps develop an awareness of how much money is already available.

With the Parents app, parents always keep their child's transactions under control. This is also important because children – like grown-ups – can pay with a Debit Mastercard, if their parents allow it. Of course, a low limit applies, so that children can gradually get used to this new freedom.

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