Inform.The.Future, Bank Accounts Edition

Our bank accounts algorithm that allows users to track the bank account total and savings over time
Our bank accounts algorithm for a Money Market Account!
Our case studie(s) that allow users to learn more about bank accounts and find which one is right for them
Our digital graphic we designed so that users can click a person and learn more about the different bank accounts
Part of the code (JavaScript) we used to design the algorithm

Inspiration

Growing up, we were blessed with financial education from our parents. We realize that not all kids get this kind of education which has inspired us to create financial algorithms and simulations for other young adults to become financially educated.

What it does

Our website allows users to click and interact with the learning material. We have a bank accounts algorithm that tracks the bank account total and how much they save over a given time and interest rate. This bank account algorithm works for savings, checkings, money market, and certificate of deposits. We also have a hand-designed graphic where users can click a person and it will take them to one of the four bank accounts above. There, they will be able to read more about that bank account and decide if it is right for them.

How we built it

We coded the simulation in JavaScript where we developed our own formulas to calculate the bank account total over time and how much the user can potentially save based on their input values. We then embedded the JavaScript program into WordPress. We also designed a graphic and used "link hotspots" so that users can click a person and read a case study about their bank account of choice. This was all added to a WordPress site so that is accessible and user-friendly for any age group.

Challenges we ran into

Coding the algorithm in JavaScript took a long time as there were lots of bugs. In addition, the formulas for the bank account total and savings were hard to craft and perfect. Also, designing the graphic took a lot of planning, revising, and finger cramping!

Accomplishments that we're proud of

We are proud that we were able to make a fairly accurate algorithm in less than thirty-six hours as well as design a graphic that provides informative supplemental information. We are also proud that we were able to embed it into a WordPress site so that it is accessible for all.

What we learned

We learned more about the design and coding process for creating an algorithm and simulation. We also learned more about the difference between bank accounts and how they each save money.

What's next for Inform.The.Future, Bank Accounts Edition

After seeing how fun making an algorithm and simulation for bank accounts was, we are looking to create something similar for retirement accounts and start a blog.