From a survey we collected on financial literacy, we discovered that a lot of people were self taught and started learning the importance of managing finances really late. Although people were saving, the consensus showed that they were not necessarily tracking their spending patterns. Navigating from adolescence to adulthood without knowing how to budget, collect loans, invest or plan is dangerous. Many existing organizations and apps that try to teach finances only do so for a hefty fee.
The severity of the issue means that a lot of teens are not frugal with their spending habit and are soon falling into debt. As education is the most effective tool in enhancing the quality of living, our product aims to clearly guide the youth (children and teens) to financial literacy through a gamified platform
What it does
SavePocket empowers youth to gain in-depth understanding of finances and assist them in making their own decisions by providing them with accurate and engaging information about money. The game teaches kids about money and allows them to spend the virtual money. Parents can be moderators and are responsible for rewards and penalties. Daily engaging challenges with a point system to encourage healthy competition.
How we built it
During our ideation, we decided to look at the current finance apps, we researched and decided to address the main issues with existing similar product. Prototyped entirely on Figma.
Challenges we ran into
One of the biggest challenges was developing our designs from wireframes to high fidelity screens. Since it was quite new for all of us to work with, these obstacles were great learning opportunities for our team to overcome.
Accomplishments that we're proud of
Tackling a real world problem in a very gamified project form is definitely what we are most proud of. The design process was a good challenge, most of our team having just a little experience with figma designs were still able to bring this idea to life.
What we learned
We learned a lot about finances. Since we had to research and explore so many concepts in a short time and then design it, it made us more aware of our current finance habits and goals.
What's next for SavePocket
A more refined version of our product would be the technical feasibility of prototype.