This year marks the 11th Financial literacy month on the Canadian calendar and that putatively serves as a harsh reminder that we still have a long way to go in terms of grasping the financial literacy concept.

Life as we know it constantly bombards us with mind-numbing responsibilities that require us to dig deep into our pockets, and too often than not we are not prepared for rainy days and find ourselves bedraggled in debt(s). As Mark Twain once said, “A habit cannot be tossed out the window, it must be coaxed down the stairs, a step at a time”. It is in the same respect that parents need to train their young ones about saving money from a tender age such that it becomes a norm for them by the time they have reached adulthood. Well, it is no secret at all that finance is a rather uncomfortable & sensitive topic to bring up in any household so that is where the Mydoh App steps in. Almost every child is fond of playing around with and exploring apps, so leveraging on that already existent interest by having them install the app would certainly be beneficial to them in the long run. Owned by Canada’s largest bank (RBC), Mydoh serves as a mobile institution, further proving the progressive idea that avows that schools ought to operate and persist even beyond the four walls of a physical classroom. 

According to the Financial Industry Regulatory Authority, being financially literate is pivotal in ascertaining that a child is well prepared and developed for the real world. From the very onset that one matriculates, a scroll constituent of student loans, investments and other multiple bills splashes upon your face way harder than heavy rain. Having the brilliant brains (Gaurav Kapoor) behind and at the forefront of this app’s operation is truly a privilege, he is very much forthright about his passion for equipping pecuniary knowledge to youngsters and one can’t help but concur that as a booming entrepreneur he boasts the rights of executing a programme that carries such an ultra-efficient performance. Its interface alone is aesthetically appealing and allows for a seamless movement around its entire settings. We all know how daunting it is to do house chores, from the parent’s perspective, however – it is but a normal assignment that every child is obliged to partake in. Unluckily, with the current “woke” generation you can hardly win them over with anything, so providing them with a certain allowance is motivation enough to propel & urge them to co-operate with house tasks. What better way to do so than through the Mydoh app which tracks & records the happenings & completion of whatever assignments they have been tasked with and then gets paid for all of that at the end of the week. This not only instils a sharp sense of responsibility but also introduces the harsh truth of having to work so to earn as a living human being. 

Furthermore, we’ve many times heard of the popular saying that numbers don’t lie! It is no exception at all in this particular context – research proves that the youth of Canada is right up there making up the biggest portion of the most educated, liberated and diverse generation. Together with the youth policy that has been developed to give young Canadians a Voice in matters that are dear to them, the abovementioned initiative has already resulted in and still boasts the potential of propelling the Country in terms of social and economic interests. This is particularly of great importance because the forthcoming economy of the country largely depends on the participation of the youth as it will guarantee to achieve a sustainable, inclusive and diverse economic institution.