As we grow over the years, we start to realize how reckless we were with our money when we were young women. If we saved up even a portion of our weekly allowances into a high-interest savings account, GIC, or TFSA account for the stock market, that money would be worth significantly more today. From our own personal mistakes, our group decided that we wanted to create a fintech app that assists young individuals with budgeting, saving, and investing, so that adulting and financial independence doesn't seem as intimidating.
What it does
PiggyFund is an educational mobile app that allows parents to teach their children how to save and invest their money. We all know that some children can be very irresponsible with their spending habits!
It’s simple- with the weekly allowances provided to your children, they can now “invest” that money into a savings account, where you will personally give them interest. The amount of interest and weekly allowance will be decided by you and can be changed at any time within the app.
This means that the longer they keep that money in the account, the more they’ll earn!
This is an interactive app, where the child can decide to withdraw the money at any time as long as they have an iPhone or Android.
In the case your child has a job, you have the option to let them invest this money into the app, to teach them more about savings and personal financing! This directly simulates how the stock market or high-interest savings account works based on compound interest!
The goal of PiggyFund is to make your children feel independent, responsible, and secure in the process of becoming an adult.
How we built it
We used Flutter, Google's SDK for creating mobile 2D apps + Programming framework built on a programming language called Dart. Flutter is a framework for Dart, where we were able to customize our code for different platforms (iOS/Android).
Challenges we ran into
We were all pretty new to Flutter and Dart, so learning the syntax and how widgets work interchangeably was inherently the most challenging part. It was also challenging to merge all the different widgets and components of the code together to get a functioning app. There were also challenges in learning different state management and data passing techniques.
Accomplishments that we're proud of
We are all pretty proud of how the formatting and layout turned out on our mobile app. All of the functions we wanted to include ended up working and connecting together. It was awesome seeing our vision come to life!
What we learned
We learned how to use Flutter and Dart to develop mobile applications. The concept of widgets and all of the syntax was new to us as well.
What's next for PiggyFund
PiggyFund hopes to become a well-established app that parents can utilize to train their children to be financially capable. We're hoping the next generation of adolescents will be more financially responsible with their money! We would of course like to add more features such as linking to the parent or child's debit cards through the bank's API to facilitate even more efficient money transfers.