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MILTON, Mass. (WBZ NewsRadio) — Milton Academy teenagers are leading the charge to improve financial literacy among younger people.
17-year-old Hugo Eechaute of Singapore decided to create StockSense to help kids between the age of 15 and 21 learn about their finances. Eechaute is from Singapore and said his world travels helped inspire the app’s creation.
“I saw people my age coming up to me for money to help their family and I was like his is really sad and we have to do something about it,” said Eechaute. “That lack of financial literacy and not understanding how to use your money for long-term wealth can cause this financial income inequality and poverty.”
Eechaute and StockSense COO Simon Farruqui recently spoke at the State House in favor of An Act Relative to Personal Financial Literacy (H.4199).
“This bill advocated for standalone personal finance graduation requirements for grades nine to twelve,” said Farruqui.
The app itself features courses on financial literacy, entrepreneurship and in vesting, as well as a chat bot to answer personalized questions. They also have an investing simulator where users can use fake money to buy and sell stocks.
“You can learn about budgeting, using your credit card, debit card, Roth IRA’s, retirement and how much money you should save,” said Eechaute.
They plan to launch their official website later in January.
WBZ's Suzanne Sausville (@WBZSausville) reports.
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