SmartPurse for free, because: "Everyone should be able to afford financial knowledge"
SmartPurse, the leading edufintech, is revolutionizing financial education by permanently scrapping the annual CHF 94.99 fee for its app. This action, led by founder Olga Miler, aims to close the alarming gaps in financial literacy.
With exclusive interview: Studies show that there are huge gaps in financial knowledge. SmartPurse has been closing these gaps in Switzerland since 2020. The company, founded in England in 2019 by Olga Miler and Jude Kelly, is now revolutionizing financial education. The app can now be downloaded for free and helps everyone, especially women, young people and people with a low level of education, to achieve financial freedom.
Significant deficits in financial literacy in Switzerland
Current studies reveal clear deficiencies and inequalities in financial education in Switzerland: Young people, women and low-income groups lag behind in financial knowledge. With an average score of just 5.17/10, only just under 52 % of respondents were able to answer three knowledge questions correctly. Young people are particularly affected: Less than half (49 %) of younger participants were able to answer all questions correctly. Income gap: People with an income of less than CHF 4,500 answered only 39.4 % of the questions correctly, while the highest income groups achieved 66 %. Gender differences: 14 % more men achieved perfect results, but the highlight: women were almost twice as likely to say "I don't know", although the actual error rate was almost identical.
Action instead of data - enabling financial freedom for all
In response to these findings, SmartPurse removes the paywall and provides over 80 compact, practical lessons on topics such as salary negotiation, investing, debt reduction and retirement planning - regardless of previous knowledge, income or education - for free in the app. Olga Miler, founder of SmartPurse: "With SmartPurse FREE, we are breaking down the barriers to accessing financial knowledge. We give people the opportunity to take their finances into their own hands. Financial independence is
a fundamental right, and women and young people in particular are now benefiting from the tools they need for a secure future."
Benefits of SmartPurse FREE
● Learn in 3-5 minutes a day: short, video-based lessons covering topics such as
Salary negotiation, investing, pensions explained simply, for all those who have little time.
● Practical tools: Over 20 checklists and tools to help with budgeting, investing and
Debt reduction.
● Access to experts: Direct contact with certified financial experts for professional
Support.
"I want to inspire even the last financial grouch to enjoy managing their own finances. Our app is available free of charge in the App Store and on Google Play and offers extensive resources. This means that anyone who wants to has a free tool at their disposal to shape their financial future in a self-determined way - no matter how much is in their wallet," says Olga Miler, founder of SmartPurse.
SmartPurse is a leading independent financial education platform founded by Jude Kelly and Olga Miler was co-founded. The EduFintech offers a range of resources in web, app and courses that help people of all genders to manage their financial lives with confidence, confidence and confidence. and knowledge.
Olga Miler has been writing a column on financial knowledge in each of our print editions for a year now. We spoke to her about the move to remove all payment barriers and thus obtain specialist financial knowledge free of charge and independently.
m&k: What prompted you to set the app about financial knowledge SmartPurse from almost 100 francs to zero?
Olga Miler: Data for Switzerland repeatedly shows that it is mainly young people, those with lower incomes and women who lag behind in terms of financial knowledge. Less than half (49 %) of younger participants were able to answer all questions correctly, and for those with less than 4,500 monthly income, only 34.9% and 44.7% of women (vs. 58.5% men)*. I and SmartPurse are convinced that independent financial knowledge should be available to everyone and that people's lack of financial knowledge should not be used to run huge businesses such as some of the financial courses that already cost several thousand francs. We want people to invest instead of spending money on learning how to invest. With SmartPurse, we want to take action instead of data and are therefore making our app available free of charge in order to break down existing barriers and hopefully encourage many people to shape their financial future in a self-determined way.
Who do you want to reach with the free app?
Anyone who wants to learn the basics, from negotiating to retirement planning and investing, simply and without financial blah-blah. Our app is built by women and welcomes people of all genders. We hope that the free version will appeal to women, younger people and those who can't afford or don't want to take expensive financial courses.
How long has SmartPurse been around?
We've been around since 2019, when we launched in the UK, and we've had a German version in Switzerland since 2020.
