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Parents play a vital role in both influencing and supporting their children’s financial capability, yet there’s no provision for financial education to be taught at primary level – despite evidence showing that adult money habits can be set from as young as seven*.

To combat this, Experian partnered with Dare to design and build ‘Jangle’ – an app created to help children learn essential money management skills while they earn the things they want.

Named ‘Jangle’ after the noise coins make, the app allows kids to create savings pots for things they really want. And so, when children would normally start pestering their parents for something they want, the app instead enables the parent to encourage the child to set up a pot in Jangle. Once a goal or ‘want’ is set, the child and parent agree a number of tasks, against which the parent will pledge an appropriate amount that will go into the child’s virtual money box upon completion of the activity.

A hugely exciting project for Dare, the app was also backed at launch by Sarah Willingham, consumer champion, and entrepreneur from the BBC’s Dragons’ Den.

* Habit Formation and Learning in Young Children, by Dr David Whitebread & Dr Sue Bingham (University of Cambridge): Report commissioned by The Money Advice Service May 2013