Updated: Jun 13
Evan Leaphart aims to creatively raise financial literacy among kids with mobile chore-tracking app.
If you’re concerned about effectively teaching your child how to intelligently handle money, don’t worry. There’s now an app for that.
“Kiddie Kredit,” a Miami start-up mobile application, can help bridge the gap in children’s credit education and teach them how to handle finances, says founder Evan Leaphart.
The 33-year-old Black, serial entrepreneur moved to Miami in 2004 to attend Florida International University. With the app idea lingering in his head for some 10 years, Leaphart made it a reality in 2018. He launched the app in 2019.
Kiddie Kredit is an app designed to teach families the importance of financial literacy. It is a mobile chore-tracking platform that assigns credit value based on the number of chores your child performs. The app’s entire algorithm parallels basic FICO models, so If your child completes chores well and on time, they’re awarded a ‘kredit’ score.
Leaphart said this rewards process is effective because it teaches children how credit works in real-time. The better the child accomplishes daily tasks, the higher their credit score will be. READ MORE