A5 Overview

Financial Literacy

Kaitlyn Chin, Jack Howe, Tiffany Gunawan, Maggie Yu, and Hieu Pham

Our Concept & Mission

Imagine this…

You are a college student who just graduated from UCSD!

• Financially Independent
• Paying your own taxes
• Personal Budget

Trying to financially invest in your future is an important factor towards building a successful future

• Difficult to learn

Introduction

Why Financial Literacy?

• Lusardi and Mitchell ‘...argue that this relationship is causal: that is, financial literacy influences retirement planning, and not the other way around (Lusardi)’.

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Why College Students?

• Transition period into adulthood -> potential market for improving financial literacy.
• ‘Good personal financial management is not enough for college students (Yogasnumurti)’.

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Prior Research

Surveys demographics:

• Young adults ranging from 20-28
• 30 out of 33 college students

Survey Results:

• 18 out of 33 found budgeting most difficult
• 25 out of 33 found tax planning to be the least familiar

Our Solution!

Introducing GoldLeaf! The educational tool that gamifies financial literacy in hopes of teaching students how to become financially independent.

Goldleaf offers college students a simplified way to learn more about financial literacy topics such as budgeting, taxes, investing and much more!

How it works

These concepts can be challenging to learn about so this is where our mascot, Gia the giant panda, comes in!

Gia acts as your financial literacy guide, helping you make the correct financial decisions!

She is hearty in her approbations, allowing you to fix your mistakes, but lavish with her praise, motivating you to continue on your journey of financial literacy!

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Our Concept

Our company aims to gamify financial literacy concepts to encourage college students to learn more about finances and increase their financial literacy.

Video Pitch

Competitors & Their Limitations

Khan Academy Kids: Money I

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Key Features:

• Interactive Lessons: On basic financial concepts
• Age-Appropriate Content: For young children, with visual aids

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Advantages:

• Educational Expertise
• Free Access
• Comprehensive Curriculum

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Limitations:

• Age Restriction: Limiting its usefulness for older people
• Limited Depth: Basic financial concepts might not suffice for advanced users

Financial Football by Visa I

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Key Features:

• Combines the excitement of football with financial literacy questions
• Offers different levels of difficulty, catering to a wide age range
• Real-World Scenarios

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Advantages:

• Engaging sports theme
• Partnership with Visa
• Multilingual Support

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Limitations:

• Niche Appeal
• Single Focus on money management

Zogo I

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Key Features:

• Bite-Sized Modules
• Rewards System
• Collaborations with Financial Institutions

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Advantages:

• Motivational Rewards
• Comprehensive Content
• User-Friendly Interface

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Limitations:

• In-App Purchases
• Dependency on Rewards: Reliance on extrinsic motivation might not foster a long-term interest in financial literacy.

Financial Literacy Gamification Competitors

Misadventures in Money Management

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Key Features:

• Graphic-Novel Theme
• Interactive scenarios financial concepts
• Age-Appropriate Content: For young children, with visual aids

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Advantages:

• Online Accessibility
• Engaging Learning experience
• Practical Application

Limitations:

• Age Group Limitation: target only toward younger children
• Limited Depth: Basic financial concepts might not suffice for advanced users

Hi-Fi Prototype

Hi-Fidelity Prototype - Login/Sign Up

Link to Figma

Hi-Fidelity Prototype - Getting Started

Link to Figma

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Hi-Fidelity Prototype - Homepage & Profile

Link to Figma

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Hi-Fidelity Prototype - Taxes Scenario Level

Link to Figma

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Budgeting

Revenue Model

Revenue Stream 1:

• Advertisement model with 1% ad income per visitor with each user being consistent visitors (have not completely define the rate of ads per session)
• By keeping the ads not too overbearing but consistent enough for ad spaces, the users can have a free experience while still helping us by viewing ads.

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Revenue Stream 2:

• Referral Advertising model with an estimated conversion rate of 2.35% (industrial standard) with a $50 earning per referral
• Banks and other financial institutions can pay for these special advertising model to get increased referral rate and more customers, while giving us revenue.

Budget

Growth Model

Cash on Hands

12 Months Time Frame

From Jan to April: had a period of negative revenue until May where we broke even

Value Flow Diagram

Old Value Flow Diagram

For our old diagram, we evaluated the problem to be the issue of financial illiteracy with the public. By illustrating the value flow between product and users, we found the tension between the users and the rest of financial institutions (market, bank, and government). However, through demographic research and interviews, we realized that the financial illiteracy issue expands all types of financial topics like taxes, investments and budgeting.

New Value Flow Diagram

After more user research, we realized that we could partner with financial institutions to increase our revenue from advertising their products/services. Now by adding ad spaces for general market and referral advertising, we get stable revenue from them while keeping the product relatively free for the users. In the future, we plan to include a premium option for the users to pay for no ads (only general market ads).

https://www.kickstarter.com/projects/goldleaf/1970156021/edit/preview

Crowdfunding - KickStarter Link

Final Poster

Final Poster Link

The Finance Bros

Kaitlyn Chin

Team Leader &

Visual Designer

Jack Howe

Editor &

UX Researcher

Tiffany Gunawan

UI/UX Designer

Hieu Pham

Programmer &

UX Researcher

Maggie Yu

UX Designer

Thank You!