Vanessa Bowen, founder of Mint Worthy, said how the Mydoh platform helps children develop financial independence and money-management skills.
Teaching financial literacy early is critical as many parents struggle to balance the desire for their children to learn with the fear of granting them autonomy. This gap in education often leaves young adults unprepared for the complexities of adult banking and budgeting.
Speaking from the CTV Your Morning Vancouver studio, Bowen said the Mydoh platform is a tool to provide children with practical experience. The system allows kids to engage with money in a controlled environment, which helps reduce the anxiety parents often feel when handing over financial responsibility.
The need for such tools is supported by recent data. Research indicates that 87% [1] of Canadian parents agree that money management is a vital skill for their children to acquire. Despite this consensus, the same data shows that many of these parents hesitate to give their children full financial independence [1].
Bowen said the platform serves as a bridge between childhood allowance and adult financial autonomy. By using the app, children can track their spending, and save for goals under parental supervision.
This approach addresses a common friction point in Canadian households. While the majority of parents recognize the importance of these skills [2], the transition to independence is often stalled by a lack of structured tools to manage the risk of early financial mistakes.
By integrating digital tracking with educational goals, the platform intends to move the conversation from theoretical advice to active practice. This shift allows children to make small mistakes now rather than significant ones later in life.
“87% of Canadian parents agree money management is a vital skill.”
The push for digital financial literacy tools reflects a broader shift in how Canadian families approach wealth education. By utilizing platforms like Mydoh, parents can mitigate the risks associated with financial independence while satisfying the statistical demand for better money-management training among youth.
