A research partnership between GoHenry, the prepaid debit card and financial education app for kids aged 6-18, and the University of St Andrews has produced initial findings showing the positive impact of GoHenry’s Money Missions on the saving habits of kids and teens.

Money Missions are in-app gamified money lessons offering an interactive platform for kids to learn key financial concepts and develop important money management skills. The platform covers a full financial education curriculum, including money basics, earning, saving, investing, responsible spending, credit, money safety, and more.

Preliminary results from the project, led by Dr Marcel Lukas and his collaborators from the University of Durham and Texas A&M University, suggest that children who engage in GoHenry Money Missions save more than those who have not completed a Money Mission. 

Key findings include:

• Kids are putting over 30% more into their savings after the first month of completing a Money Mission

• Kids are continuing to save 10% more after three months of completing a Money Mission compared to those who haven’t completed a mission

• Kids who completed all the Level 1 Money Missions are saving on average 50% more than they did before they completed a Money Mission

Plus, the effect gets stronger with each mission completed, reinforcing the importance of early financial education in shaping responsible money habits and decision-making.

Louise Hill, Co-founder and COO of GoHenry commented: “Collaborating with the University of St Andrews and Dr Lukas allows us to combine academic insights and our practical experience to create data-driven interventions, empowering children to establish a strong foundation for financial literacy. It’s been fascinating to see the preliminary results; I can’t wait to see what else the collaboration will unveil and how we can use these findings to further promote financial wellbeing for all.”

Dr Marcel Lukas, an expert in financial decision-making and fellow with the Office for National Statistics, said: "We are delighted to partner with GoHenry on this important initiative. Our goal is to better understand how we can support children with the skills and knowledge they need to make informed financial decisions, fostering a generation of financially responsible individuals.”

“Our early results show that kids who use GoHenry's Money Missions end up saving more money, showing just how important our partnership could be. We're excited to learn more about how kids decide to use their money and how we can help them learn more about it."

The collaboration with GoHenry is part of Dr Lukas’ Empowering Financial Wellbeing program, which aims to improve financial literacy and decision-making across all age groups, promoting financial resilience and wellbeing for generations to come.