Money Matters: Improving kids’ financial capability in Australia

“Since our launch, thousands of families across Australia signed up to test Kit with us. We knew improving financial capability would be a difficult task, and even more difficult to measure. But we also knew it would be important to ensure we were genuinely helping our kids become financially confident, capable and resilient in the new world of money. That’s why when we launched Kit in May 2022, we committed to reporting on whether our app was on track to aid our mission. “

Yish Koh, Managing Director of Kit.

Mother and son using a tablet together

Making an impact

At Kit's inception, we commissioned EY Australia to independently develop the Young People’s Financial Capability Outcomes Framework. Kit prioritised four key indicators from the framework to build into our app’s core features and functionality. We then engaged the Behavioural Insights Team (BIT) to independently develop an evaluation protocol referencing these indicators to enable us to measure our impact on kids’ financial capability over time. Here are our results. 

The results

Children using Kit were 14.2% more likely to earn money on their own

Financial Capability Indicator: Safely and productively participate in the 'earning' economy

After using Kit, parents and carers had 8.4% more frequent conversations with their kids about money

Financial Capability Indicator: Talk about money

Children using Kit were 7.8% more likely to save their own money

Financial Capability Indicator: Plan for the future

Children using Kit were 4.6% more likely to apply spending strategies after four months

Financial Capability Indicator: Informed, empowered and conscious when spending money

After using Kit, parents and carers were 3.7% more likely to have conversations with their kids about money

Financial Capability Indicator: Talk about money

Get savvy with Kit!

Money Matters: A Report into Kids' Financial Capability in Australia 

In this report, we delve deeper into our measurement approach. Read more about our evaluation protocol, methodology, and results.  

Kit's financial capability infographic

Results in a snapshot 

This evaluation has shown that even at this early stage, Kit is having a positive impact on kids’ financial capability. Download our one-page infographic to see our results in a snapshot.  


Financial literacy is the knowledge and understanding of financial terms and concepts, but financial capability is much broader. A child who is financially capable doesn’t just understand financial terms but can also talk about money in a confident and constructive way, make informed decisions about money and is confident in their ability to learn and apply financial skills.

Source: Young People’s Financial Capability Outcomes Framework, EY Australia