Youth money management app, Mydoh, launches in Quebec helping parents raise money-smart kids and teens
A new survey commissioned by
Mydoh found that 85 per cent of
parents feel some aspects of financial literacy are a challenge to teach their children
With the Mydoh app, which provides parental oversight,
"Parents play a crucial role in their children's financial education, but they don't need to do it alone," said
The innovative platform provides a solution to an increasingly common challenge for parents. In the survey commissioned by Mydoh, 83 per cent of
'Odd jobs' present a financial learning opportunity for children
In
While parents may often use the phrase "when I was your age…" to explain how different their childhood was, the new Mydoh survey suggests that odd jobs in
What are kids doing with money earned from their first odd jobs? According to the survey, one-in-four (24 per cent) youth from Gen Z plan to save for a major future purchase compared to one-in-five (19 per cent) from their parents' generation. In this regard, young people using the Mydoh app can benefit from the digital platform's tools and financial learnings to make those future purchases a reality.
For Mélissa Bédard, mother of three daughters and Mydoh ambassador for the brand's launch campaign in
"Talking about money has long been a delicate subject in our home, but I am committed to teaching my children the value of money from a young age. Associating the Mydoh app with their chores at home has been an excellent way to reinforce these early financial lessons. Mydoh is easy to use, colorful, and makes teens want to use it, which is a big plus!"
Mydoh : A practical tool for money-smart teens
Mydoh found that 61 per cent of parents in
With Mydoh, parents can set up tasks with their children, paying them a weekly allowance on Saturday to simulate a real-world pay day. Parents can help their kids set and reach their saving goals while gaining practical experience in managing money. This hands-on approach helps empower young people to make informed financial decisions, understand the value of money, and develop essential skills that can benefit them throughout their lives.
Parents can gain peace of mind knowing they have oversight of their child's transactions and can lock and unlock their child's Smart Cash Card at any time. Mydoh is also backed by the security and privacy standards of RBC.
On a mission to help households raise money-smart teens, Mydoh has empowered nearly 200,000 Canadian users to build a more solid financial foundation for the next generation and looks forward to supporting
About the Survey & Methodology
Leger was commissioned to conduct an online survey of 400 Quebecer parents of kids aged 11-14. It was completed between
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About Mydoh
Since 2021, Mydoh has been committed to helping parents raise money-smart youth. Mydoh began with the shared belief that money management isn't something you are taught, as much as something you learn through experience – and that experience should start early. Mydoh has championed this belief since its inception and with it, has been able to help nearly 200,000 Canadians build a more solid financial foundation for the next generation.
About Leger
Leger is the largest Canadian-owned full-service market research firm. Leger's online panel has approximately 400,000 members nationally and has a retention rate of 90 per cent. Stringent quality assurance measures allow Leger to achieve the high-quality standards set by the company. As a result, its methods of data collection and storage outperform the norms set by WAPOR (
SOURCE RBC