A San Francisco start-up is aiming to teach high school students necessary personal finance lessons through an app that appeals specifically to young adults.

"Ced Funches, founder of financial literacy startup Schooold, has created a prototype for a program that will deliver bite-size financial lessons to teenagers' smartphones, encouraging them to complete tasks and take quizzes on items like compound interest, managing credit card debt and other key topics," according to an article on AmericanBanker.com.

Funches, a self-made business man who grew up in poverty, hopes to create an app that not only trains its audience, but also doesn't discourage. "Unlike many personal finance management apps, he does not plan to let people link in bank accounts to Schooold" because doing so " could very well be spitting out a visual of just how broke someone is" and deterring learners before he or she even starts, according to the article.

"He's courting partnerships with banks, social media companies and others to help distribute Schooold. His launch date is targeted for 2016 on something he envisions can be used as a step to help demythologize the financial fairy tale."

Funches work is in response to the growing need to educate young adults to be financially savvy. Kathleen Craig, creator of the existing mobile app Banking Jr., describes the dire need for developers in the industry to come together to instruct. She "sees a need for the industry to more forcefully work together to advocate for financial education just like how the dentist community rallies together to promote good hygiene habits," the article said.

Read the full story here and comment below.

Article by Nicole Gorman, Education World Contributor