BusyKid

For decades, Americans have grappled with a glaring gap in financial literacy—a void left by schools that failed to prioritize practical money management education. The consequences of this oversight are evident in the staggering levels of credit card debt—$1.7 trillion as of December 2024—and total household debt, which reached $17.94 trillion in September 2024. Addressing this crisis requires innovative solutions that blend technology with sound financial principles.

Enter BusyKid, a pioneering platform co-founded by Gregg Murset, Mike Prusinski and Jack Bennett, designed to equip children with essential financial skills through hands-on learning experiences.

At its core, BusyKid isn’t just a financial app with a Visa® prepaid card; it’s a transformative platform fostering real-world financial education. Aimed at children aged 5 to 16, the app introduces users to the ‘financial circle of life,’ encouraging them to earn, save, donate, invest, and spend money wisely.

Murset, a Certified Financial Planner, built BusyKid on the principles he used to teach his six children about managing money—a system he also shared with his clients. The result is a platform that modernizes traditional financial lessons by combining them with cutting-edge technology.

A Practical Solution to Financial Education

BusyKid operates under the belief that children learn best by doing. Unlike abstract lessons or theoretical concepts, the app provides a practical and interactive way for kids to handle money. Through tasks, allowances, and rewards, it mimics the real-world financial cycle, ensuring that users experience how money is earned and allocated.

“Our proactive approach prepares children to make sound financial decisions, countering the trickle-down knowledge often passed down from parents or the internet,” says Prusinski.

The app also serves as a bridge between financial institutions and the next generation of customers. Traditionally, savings accounts for children offer little more than a place to store money. BusyKid’s white-labeled app and prepaid card, available to banks and credit unions, embeds financial literacy into everyday transactions. As kids earn, save, and spend, they interact with the brand of their financial institution, forging a meaningful connection that extends beyond the typical banking relationship.

Changing Lives, One Child at a Time

The transformative power of BusyKid is best illustrated through its young users. Take Colleen McCoy, a 12-year-old from Arizona, and Else Dees, a 10-year-old from Utah. Both girls have embraced the platform’s principles, earning, saving, and even investing their money. Their efforts earned them recognition as BusyKid’s top app users in 2023. These success stories highlight how the app fosters not only financial literacy but also confidence and independence in its users.

Parents, too, have expressed enthusiasm for BusyKid. Many say they wish such a tool had been available during their own childhoods. By listening to feedback from families, BusyKid has continuously refined its offerings, ensuring the platform remains relevant and impactful. This dedication to improvement reflects the company’s customer-first ethos and its commitment to delivering results.

Building a Foundation for the Future

BusyKid’s success is rooted in its strong foundation of financial expertise and a clear understanding of its audience. The company has navigated rapid advancements in technology, online banking, and card security to create a robust and user-friendly platform. By engaging parents and children directly, BusyKid has built a roadmap that prioritizes practical solutions and real-world applicability.

The app is more than a tool—it’s a philosophy. By instilling habits of saving, donating, and investing from a young age, BusyKid aims to cultivate a generation of financially responsible adults.

Murset emphasizes the importance of starting early and maintaining consistency, likening the process to a marathon rather than a sprint. The payoff, however, is profound: children leave home with significant savings, a strong understanding of financial principles, and the skills to navigate the complexities of adult life.