ERNIT Piggy Bank: Teaching Kids to Save Using Bitcoin

A new project on Kickstarter called ERNIT is a digital piggy bank that teaches kids to save money using bitcoin. It dubs itself as the piggy bank of the future, as it also allows fund management through the app. It also accepts credit or debit cards and bank transfers, aside from bitcoin.

The app is connected to a physical piggy bank which uses light to show users how close they are to reaching their goals. The creators noted that children need to touch, see and hear to learn about financial value at an early stage, which is why ERNIT drew inspiration from traditional piggy banks.

Bitcoin and Saving

With ERNIT, parents can be able to teach their kids about saving by allowing their children to set goals and help build the patience to reach those. Apart from sparking family conversations about the value of money and the use of bitcoin, it also delivers a fun experience that empowers children with good financial habits.

Pledges of $1 to $5,999 or more are accepted through the Kickstarter page. The project has a goal of $80,000 in funding by November 2. A pledge of $1 or more will get an eBook with 25 tips in teaching kids about the value of money while a pledge of $25 or more gets an ERNIT T-shirt.

Super early bird pledges of $59 or more gets 1 ERNIT and savings of 50% from the original retail price. Early bird pledges of $79 or more also gets 1 ERNIT and savings of 30% from the original retail price. Pledges of $199 or more get 3 ERNITs while pledges over $3,000 can allow bulk purchases 50 ERNITs. Lastly, pledges of $5,999 or more will allow you to meet the team behind ERNIT.

ERNIT was founded in 2013 by Soren Nielsen, Thomas Bjerring and Mads Tagel. The team has worked collectively for two years to build the app and piggy bank, after individually working in in areas like digital design, creative technology, educational communication, sound design, bitcoin, financial literacy and consumer electronics.