Personal Finance
Should you give your child allowance via an e-wallet?
By Taby  •  May 3, 2020
As e-payment transactions continue to rise, the use of e-wallets has become a more convenient option for most. It won’t be long until the next generation inherits an e-wallet dominated lifestyle.  Parents would probably feel safer to give their children’s allowance in cash. Cash is physical, which offers a more hands-on experience for your child to learn more about the responsibilities of handling money.  It is also easier to account for how much was spent and saved, to see and touch the actual amount either grow or shrink.  While cash is sure to still stick around, there’s no harm in transiting to giving your child their allowance through an e-wallet. In fact, there are three benefits to this transition:  Convenient E-wallets are a much more convenient alternative, where you’re able to transfer the needed amount from anywhere at any time.  More so than the ease of transferring, tracking is also...
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By Taby
Taby was started by Jun Yi and Ann Qi in Stockholm under the NUS Overseas colleges, an enterprise arm of the university. During our stint in Sweden, we observed an increasing trend of card and digital payments in Stockholm and across Europe. Further research led us to uncover the prevalence of this wave of payment methods in the U.S. and parts of Asia across different types of markets. Both of us quickly saw the opportunity of this application in the teens market and we decided to form a team consisting of 4 NUS students to make it a reality.
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