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TORONTO – October 14, 2020 – ( )

​​​Kids are like sponges when it comes to new concepts, making this the perfect time to teach financial literacy. Research shows that the younger you teach children about money, the more independent and responsible they will be as adults. This is why Treasure exists. Treasure, a mobile money management app has been built to teach kids the value of money, fun ways to earn and save their allowance and money received through gifts.

“Financial literacy is a key life skill, but schools don’t teach finance-related courses properly until middle school or high school, and I think that is not only crazy but also way too late to form good habits,” said Matt O’Leary, CEO of Treasure. “Kids need money skills as soon as they can count. My own kids would ask for things in the store without realizing the cost or need to take money to school as early as kindergarten, and that’s when I realized that kids need money skills as soon as they can count.” 

Treasure is a fun-first education tool that teaches positive financial habits around saving and spending, but unlike other tools, Treasure uses real money with real spending and saving options using the bank of Mom and Dad through allowance and task-driven incentives. 

“We all know someone who got in trouble when they got their first credit card. This is because a credit card isn’t money. It’s just an abstract concept,” says O’Leary. “Our research has shown that the reason it is important to start teaching kids about money as early as possible is based on the fact that many financial decisions are based on abstract logic

Amy Parvaneh

used to rely on her SoulCyle instructor for motivation. Now, her two children are the ones on the bikes, encouraging her to push through the pain of her new sport, running.

“When my kids are yelling, ‘Mom, you can do it,’ there’s no way I can let them down,” she says. “I might be sweating buckets, but I’m getting up that hill.”

Ms. Parvaneh, 41, is a single parent and helps care for her retired parents who live next door. As the founder and CEO of Select Advisors Institute, an Irvine, Calif.-based sales coaching and marketing consulting agency to financial organizations, she has long relied on exercise to alleviate stress and calm her mind.

During the pandemic, Ms. Parvaneh started running after her kids, Hudson Scotti, 9, and Valentina Scotti, 6, while they biked.

Pre-pandemic, she estimates she spent $1,000 a month between SoulCycle, hot yoga and her gym membership. She spent an additional $600 a month on tennis, dance and taekwondo lessons for her kids,

Hudson Scotti

, 9, and

Valentina Scotti

, 6. “When Covid hit and everything closed, we felt trapped,” she says. “I needed exercise to fuel my brain.” She tried doing yoga at home, but says not going outside frustrated her. “It felt like a day of never-ending work and schooling,” she says.

In late March, she piled her kids and their two bikes into her two-door car, drove from her home in Newport Beach, Calif., to a trailhead and told them, “Start riding.” She chased after them. “They cried and screamed. But now they actually look forward to it,” she says. “And I hated running. I don’t think I’d run 1 mile in years.” Ms. Parvaneh says her runs have given her time to reflect on new work projects and strategies, and

Studies reveal shrinking access to and increased costs of health care coverage for many in the U.S. And analysts worry about 2022 insurance premiums.

Roll Call:
Health Care Rates For 2021 Stable, But 2022 May Bring Challenges

A drop in health care costs is projected to keep insurance rates low in 2021, but long-term worries about the COVID-19 pandemic are raising concerns about potential spikes in future years. Final rate increases in the individual market are under 5 percent in places like Idaho, the District of Columbia and Minnesota. Several states, including Hawaii and Oregon, are even expecting price drops. (Clason, 10/8)

Fewer children are insured —

The New York Times:
Even As The Economy Grew, More Children Lost Health Insurance

The share of children with health coverage in the United States fell for the third consecutive year in 2019, according to census data, after decades of increases. The decline occurred during a period of economic growth — before the coronavirus pandemic caused broad job losses that might have cost many more Americans their health insurance. (Sanger-Katz and Goodnough, 10/9)

Houston Chronicle:
Texas Leads Nation In Uninsured Kids

One in seven children in Harris County were uninsured in 2019, one of the highest rates in the country and almost triple the national average, according to a report from the Georgetown University Center for Children and Families. (Wu, 10/9)