How can we help young children understand the basics of modern money long before they own a smartphone or open a bank account?

Most children have no idea what’s happening when they see grown-ups tapping their bank cards or smartphones for things in shops. Coins and notes are almost history, so we felt it was really important to find a way to help children appreciate the value of money they cannot see.

Nestums is an app for parents and guardians of young children.

Nestlums helps parents keep track of any pocket money they give to their children in real life, without connecting to a bank account or touching any actual money, and helps them to educate their youngsters through tasks and games.

By harnessing the power of play, the lessons about money contained in the app have a better chance to sink in. And right from the start, we decided that the only way forward was to let a third party help with all that coaching, so we invented a race of adorable critters called the Nestlums.

Each child gets a Nestlum, and each Nestlum looks different. These conscientious beings float around inside the app, keeping an eye on the tasks being set by the adult, and undertaken by the child, as well as helping the notion of ‘balance’ to sink in with a tally of gems and coins.

Nestlums is a parent-owned app featuring adorable creatures in cowls who train children to earn, save and spend wisely through a safe, game-like experience on the parent or guardian’s phone.

Nestlums has been a labour of love, driven by an urge to educate and protect our little ones.

Quite a few of us at Cauldron have junior school age children, and the subject of enlightening our under-tens about money – via the use of clever technology – is something we are extremely passionate about. Our first foray into this realm was a nifty digital money box we put our collective hearts and souls into, called Money Monsters.

Exploring potential characters

Dreaming up games

Devising the training

Nestlums launched on the UK App Store in June 2020.

We’re on a furious mission to set new standards in the realm of financial technology. To discuss the options for licencing Nestlums, please get in touch.

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