Millennial parents are getting their Gen Alpha kids in on banking early. As the generation known for being saddled with debt, Millennials with kids don’t want their little ones repeating their financial mistakes. In fact, YPulse’s recent finance report found that 84% of Millennial parents say they want their children to learn about personal finance management as soon as possible—and they’re taking matters into their own hands to make sure this happens. According to research from Insider Intelligence, Millennial parents are already opening bank accounts for their kids, and they’re doing it through neobanks and apps designed with kids and teens in mind. These new financial services offer parents oversight of their kids’ accounts, kid-friendly educational tools, and shared functions that let parents help their kids reach their financial goals. (Insider Intelligence)
