Since a few years back, we have been focusing our CSR work on private financial sustainability. Shop Lagom was our first public and also very successful initiative. Now we take the next determined step along this road – as we are launching the Penny Pep, or in Swedish Pengapeppen.
This initiative is directly focusing on today’s parents and their children – With the aim of creating as good conditions as possible for tomorrow’s adults to have a good financial understanding.
We are seeing a trend with more and more people lacking “financial literacy”. In fact, only 24% of Generation Z can demonstrate basic financial skills, while our surveys show that 33% of parents of 6–18-year-olds say they have difficulty explaining the value of money in an increasingly cashless society. There is a potential risk that these trends sum up in overindebtedness for tomorrow’s adults. We aim to do our utmost to minimize this risk – with Pengapeppen as an effective action.
In Pengapeppen we are delighted to be supported by experts such as the economists Magdalena Kowalczyk and Magnus Hedberg. They will guide, inspire and give solid tips to today’s parents. All on the topic of “how to talk about money with your children”. Also, Paulina Gunnardo, a behavioral scientist will contribute to Pengapeppen. She focuses much of her work on children’s development. All this to create us the perfect mix between learning and understanding.
Through this initiative, we hope in the long run to lay the foundation for future generations to make wiser economic decisions – and thus slow down the prevailing over-indebtedness in society.
“It is an initiative that is completely in line with our values around private financial sustainability. By targeting the parents, we create the opportunity to really influence tomorrow’s adults, something that in the long-run benefits both the individual and society. This is a natural step for us in our quest to minimize overindebtedness!” says Moa Tyborn, SVP Corporate Communications at Alektum Group.
Please visit Pengapeppen.se and take a closer look at our new initiative and be sure to tell your friends and family about our new initiative.