We had a brainstorming session about how we can create something that will help educate young children about personal finances and wanted a fun way to do it. One of our team members suggested the idea of getting paid for chores through a bank account and the rest of it rolled on from there.
What it does
WishList Wizard allows parents to send tasks (such as washing the dishes or mopping the floor) to their kids on the WishList Wizard app with a corresponding compensation value (for example, $5 for washing the dishes). The kids can then choose to accept these tasks and get their allowance deposited to their virtual banking account on WishList.
This money can go towards a specific goal on their wish-list (for example, buying movie tickets) and the kids can see how much more they need to save by tracking their wish-list progress. Multiple goals can be set within the wish-list and children can choose which one they want their allowance to go towards. By doing this, young children will be able to develop essential money managing skills such as saving and budgeting from an early age. Parents can also monitor their child's virtual bank account and keep track of their wish-list progress as well as other transactions.
Other features include as a "spending" tab where they can can carry out small daily transactions as well as a "share" tab that can be linked to donation pages.
How we built it
We used React Native with Expo Cli
Challenges we ran into
- Learning React Native within the hackathon time period
- Setting up a lot of different of stuff
- Having a limited amount of time to develop the app
Accomplishments that we're proud of
That it works! Hopefully parents can introduce to this to their children and they can start saving up their allowance to get items from their wish-list while learning how to be responsible with their finances.
What we learned
How to use React Native! We also learnt more about the ideation process, debugging and creating a compelling pitch.
What's next for WishList Wizard
Developing a webpage! We also want to add more features base on user feedback.