After speaking with over half a dozen parents, we learned that they think about saving for their child's future "every day of her life." They want to save but they forget, or feel as if they can't. But those same parents make impulse purchases all the time. With GeniusFund, every purchase makes an impulse savings.

The IRS has set up something called a 529 fund. Any money put in a 529 compounds monthly, with a guaranteed 5% tax free return. GeniusFund takes advantage of this, to grow the smallest of monthly contributions into real results. With GeniusFund, buying a coffee each month becomes your child's books for college.

Here is how it works:

When a parent sets up their account, they choose how aggressively they want to save as a percentage of their purchases. While they're setting their percentage, we tell them how much we think they'll save, as a function of their monthly transaction history. At the time they make a purchase, that extra percentage gets moved into a 529 fund where it earns a tax free guaranteed 5% return until the time it matures. After the first savings of every day, we notify the parent that they contributed to their fund's goal, and give them the chance to view their progress and move more money into their child's account.

70% of parents we spoke with said they'd use this tool and of those 2/3rds would pay $1/month for it. In fact, a few parents paid in advance. GeniusFund has already made $13.

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