.png)
Making an impact
Since releasing our inaugural Money Matters report, Kit has expanded our reach to over 71,000 users. With this larger customer base, we now have data on how a significant number of Australian families are using Kit and improving their financial capability.
This report investigates the impact that Kit behavioural and educational interventions - gamified learning and nudges - are having on children's financial capability.
.png)
Finding 1: Kids who consume nudges demonstrate stronger saving behaviour than those who don’t.
Once they’ve created a Stack, children are encouraged to share their goal with others. This soft commitment device creates a sense of social accountability, which increases their motivation to achieve their goal1.
1Gharad Bryan, Dean Karlan, and Scott Nelson, “Commitment Devices,” Annual Review of Economics 2, no. 1 (2010): 671–698.
.png)
Finding 2: Kids who have consumed Kit’s learning content in the previous 30 days are more likely to display behaviours associated with financial capability.
Kit's gamified learning has a positive impact on kids' financial capability demonstrated through positive financial behaviours post engagement with learning content.
Finding 3: Learning drives child financial behaviours, even in the absence of parent or carer engagement.
Children's financial capability behaviours are improved by engaging with Kit's learning content regardless of their parent’s or carer’s engagement, however, financial socialisation (parent or carer engaging in app) amplifies this impact.