Everyone remembers their middle school grade trips. I went to Disney and blew nearly all my money on Butterbeer and gummy snakes, and I wasn't the only one. 13-year-old me was among the approximately 195 million Americans who suffer from financial illiteracy. If only I’d had my parents with me or some financial sense to stop me from being so irresponsible. Enter SafeWallet. The parents and kids of modern times need not worry about this anymore. With SafeWallet, parents can keep tabs on what their kids are spending by allocating portions of their allowance to be used for specific stores or causes.
What it does
SafeWallet is an online platform that sets up accounts for parents and dependents such that parents can add funds to their children's wallets. They can monitor transactions dynamically, while also setting limits on shopping locations and transaction values. These can be edited at any time, as can be the addition of children. Children can request funds that appear in the parental view pending approval. The goal of SafeWallet is for children to be able to pay for items, so we hope to implement NFC technology to make purchases. In the meantime, however, the demo accepts store location and purchase value as inputs that would be transmitted through NFC at a store. The app uses an algorithm to pay the full purchase value by taking from assigned funds that allow for payment at that store. If there is no such combination of funds to fulfill this goal, the payment is declined, preventing the child from recklessly spending their money.
How we built it
Challenges we ran into
Accomplishments that we're proud of
Everything. When we started to write code at noon, the entire team was unsure of whether or not we would have something concrete by the next morning. We had split into two teams, working towards the middle from the front and back end, so we were very worried about what would happen when we reached integration, especially because half of our team had no php experience. Considering this, we were proud of our work throughout, as we had formed a real idea and a prototype for it in a day.
What we learned
As our team members each had different backgrounds coming in, we each learned a different amount. Collectively though, we learned how to design a website, both structurally and visually, and how to code in php. We also learned how to connect front end and back end programming.
As of now, the website only receives manual inputs for payment, but we hope to continue the project and incorporate NFC technology for real-time payment to increase the applicability of SafeWallet. We also would like to categorize stores when assigning funds to provide information such as entertainment, rather than a list of movie theaters, for example. As an expansion of this, we also plan to use this categorization to provide longterm and monthly summaries of where expenses occurred. Lastly, we were hoping to alert parents when children visit stores that are absent from both the banned and the approved list, to provide an opportunity for the parent to decide whether or not to ban the store in the future (the site is programmed to allow payment on the first instance if they have a general fund).