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## How Pedrisi School Eliminated Cash Losses and Improved Student Spending with Earlybean

Executive SummaryPedrisi School, a primary/secondary school based in Lagos, was experiencing recurring cash losses due to mismanagement and lack of efficient systems for tracking student spending. To address these challenges, they implemented Earlybean, a finance app designed for children and teenagers.

The implementation of Earlybean’s features allowed for better monitoring, tracking of expenditures, and provided students with tools to manage their own finances. This transition not only led to a reduction in cash losses but also fostered better financial habits among students. The school saw an improvement in how students allocated their allowances, with many beginning to save and budget effectively.

### Key Benefits
- **Reduced Cash Losses**: Earlybean's tracking features minimized financial discrepancies.
- **Improved Financial Literacy**: Students gained firsthand experience managing their finances through engaging educational content.
- **Enhanced Spending Habits**: Students learned the importance of budgeting and saving.

### Conclusion
The introduction of Earlybean at Pedrisi School has been a transformative step towards creating a financially literate generation. Not only did it mitigate cash losses, but it also equipped students with the necessary skills to manage their finances wisely.

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## FAQs

### Have any questions?

**Question 1**  
Who is Earlybean?  
Earlybean is a learning-focused finance app where kids and teens can manage their own money, learn to save, budget, and invest through engaging lessons, quizzes, and games- all with parental guidance.

**Question 2**  
Is Earlybean safe?  
Yes. All funds are insured by NDIC through our CBN licensed banking partners.

**Question 3**  
Do I have to create an Earlybean account before my child can get one?  
For your kids to have an account, you have to create a parent account, under which you have the option to create a custodial or youngster account for your kids.

**Question 4**  
What types of kids’ accounts can you create on Earlybean?  
As a parent/guardian, you can create a custodial or youngster account. A youngster account is a savings account that helps 6-17 year olds to learn to manage their own money, save, budget, and invest through engaging courses, quizzes, and games- all with parental guidance. While a custodial account allows you to save on behalf of your kids and hand it over to them when you're both ready. Think of it as a trust fund.

**Question 5**  
Which app should I use to get started with Earlybean?  
Download the 'Earlybean parents app' if you are over the age of 18, and the 'Earlybean youngster app' if you are under the age of 18. Install the app from either Apple Store or Play Store, sign up, and you're done.

**Question 6**  
How is Earlybean different from a bank?  
Earlybean’s approach to finance involves blended-learning. We combine an engaging mix of educational content, games, and practical learning for kids.