60% of Gen Z Dads On Junio’s Platform Outsource Utility Payments Of Electricity And Water Bills To Their Kids: Study

A study conducted by Junio, a kid-focused startup that allows children to make secure offline and online payments, shows that that 60% of Gen Z dads on Junio’s platform outsource utility payments of electricity and water bills to their kids and reward them with a small bonus in return. The study also focused on beating the old parenting paradigm when parents didn’t prefer discussing money matters with their kids. 

The study included one lakh parents across India from the top 10 cities, including NCR, Mumbai, Bangalore, Hyderabad, Chennai, Kolkata, Ahmedabad, Pune, Chandigarh, and Lucknow. It also cited that fathers surpass mothers in encouraging kids to use modern payment tools like smart cards, digital money wallets, etc.

“Parents are leading kids by teaching them financial discipline and discussing money matters in the initial years of their childhood. They can empower the next generation by teaching them the value of money and saving for a rainy day. Today’s kids are growing up in a high-tech world and it’s good to encourage them to use virtual cash and digital payment tools such as e-wallets, and smart cards, and Junio is making it an enriching experience for both kids and the parents”, said Ankit Gera, Co-Founder, Junio.

The study revealed that Gen Z parents are raising their kids differently and discussing money matters with them in the early years of their childhood. The study also highlighted that over 90% of parents wanted their children to learn about healthy spending and saving habits, financial planning, and investing.