A digital wallet designed specifically for teenagers, providing them with a safe and accessible way to manage money even without a traditional bank account. The app allows teens to receive pocket money from their parents, send and receive funds, and make payments directly from their digital wallet. It encourages financial responsibility by helping users set personal savings goals and track progress, empowering teens to develop healthy financial habits from an early age.
The Problem
Many teenagers face a unique challenge: they want to manage their own money, but most don’t have access to a traditional bank account. This limits their ability to receive allowance digitally, make payments, or save for personal goals. Without a safe and structured way to handle money, teens miss opportunities to develop essential financial habits early, leaving them unprepared for managing finances independently as they grow.
Daniel is a 15-year-old who doesn’t have a traditional bank account. He receives $30 a week in cash from his parents as allowance for helping with small chores around the house. Daniel dreams of going to Barcelona this summer, but he struggles to save for the trip, as he often spends his pocket money when hanging out with friends. He is highly motivated to explore tools that can help him save and stay on track for his trip.
The User
Home Screen: Actions and Prioritization
The home screen provides the user with easy access to all key actions,. While regular actions like sending money, requesting funds, making payments, or adding to a savings plan are immediately accessible, the saving section takes up the most space on the screen, emphasizing its importance. This design encourages users to set and stay on track with their saving goals while keeping all essential financial actions within reach
Saving Plans: Monitoring and Motivation
The Saving Plan area allows the user to easily track and manage their savings goals. The user can view all key details of each plan, including the goal amount, current progress, and a complete history of transactions. To encourage consistent saving, the user can set up automatic recurring deposits. Additionally, the app leverages AI to generate a personalized theme image for each plan, making the experience more vivid and motivating the user to stay engaged with their financial goals.
Status:
Clear Visibility
The Status area provides the user with a quick overview of their finances, displaying key numbers such as total money received, spent and deposited to savings. Users can also view a detailed list of all transactions, with filters to easily sort and find specific entries. This design helps the user stay organized and keep track of their financial activity at a glance, ensuring they have full visibility over their money and progress toward their goals.
Parent Side: Oversight and Control
The parent side of the app allows parents to manage their children’s finances easily. Parents can view their kids, send money, and track how much each child has received. They also have full visibility into each child’s financial activity, including savings plans and progress toward goals. To make allowance management easy, parents can set up automatic recurring transfers, such as sending a fixed amount weekly, ensuring their children receive money consistently without any extra effort.