Solomoni app teaches Hong Kong students to manage money with prepaid Visa cards

South China Morning Post

11-05-2025

A social enterprise is teaching kids about money management by giving them prepaid cards.
Solomoni is a free financial education app that comes with Hong Kong's first Visa card for children.
It was designed for children from six to 18 years old. The card and app allow parents and young users to monitor expenses and set savings goals.
The app was developed through a social enterprise project under Solomon Learning Group. It aims to teach young people how to understand money and make sound financial choices.
Yeung Tsz-yu from Maryknoll Convent School (Primary Section) appreciated how the app tracks her spending: 'It helps me monitor my spending patterns and see where I need to adjust,' she said.
Solomoni was piloted in 15 schools in 2023, reaching nearly 1,000 students and parents. It offers features that families can use together, such as earning money through tasks, setting savings goals and tracking spending.
The cards are stored-value and can only be used when the account has money. This teaches children to spend only what they have.
Encouraging good habits
The social enterprise behind Solomoni also has a series of online lessons about money management skills.
'Earning money helps children understand that ... hard work is necessary and that they must take responsibility,' Alison Chan said. She is the co-founder of Solomon Learning Group.
She also stressed the importance of donating to charities, a practice that is encouraged on the app.
'Donation is crucial because it fosters compassion and empathy – qualities that are essential in great leaders,' Chan said.
Learning how to save money is a great skill to practise. Photo: Shutterstock
New way of spending
Sylvia Chan May-kuen is the principal of Ying Wa Primary School. She said financial education was especially important in today's digital world.
'We used to handle cash, calculate change, and physically save money. But now, with digital payments, a moment of impulse can lead to an instant purchase,' Chan said.
Students were excited about the lessons they could learn from the app.
'I'm most interested in learning how to evaluate whether a purchase is worth it – comparing cost and benefits,' said Jayden Wong Ban-yin, 11, a Primary Six student at Ying Wa Primary School.
His classmate Karston Chan Hin-wang, 12, had similar ideas.
'I don't usually spend much unless it's something essential,' he said.
Karston believed learning financial education skills at a young age would benefit children.
'Eventually, we won't be relying on our parents to pay for everything,' he said.
'Since we'll need these skills sooner or later, why not learn them early and adapt to managing money independently?'