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Mothers pay more pocket money to their children than fathers and play a vital role in teaching money management lessons to kids and establishing a firm financial foundation for them, according to a survey by Junio, a fintech startup that allows children to receive digital pocket money.

 "Junio’s study suggested that kids receive an average of over 1500 from mothers while dads hand out somewhere around 1100," the company said in a release. The survey covered over one lakh parents.

The study also revealed that mothers give their kids first-hand experience of different money management skills like monthly budgeting, controlling expenses, saving, and keeping track of all of their transactions. Children majorly spend their pocket money on utility payments such as mobile recharge, fuel bills, cab rides, food bills, etc, it added. 

Tracking the cash flow and the monthly allowance, significant spending was seen on platforms like Zomato, Swiggy, Zepto, Paytm, PhonePe, Blinkit, Flipkart and Amazon.

Ankit Gera, co-founder of Junio, said, “Mothers are taking a lead role in teaching kids’ financial discipline. Raising financially literate kids and giving them the virtues of healthy spending and saving habits is one of the best gifts parents can give to their children. Saving for a rainy day is an essential part of parenting, and parents can empower the next generation by teaching them the value of money at an early age. Today’s kids are quick learners and tech-savvy, so it’s easy for parents to teach them financial discipline, budgeting, and saving habits."

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