“Free” in FinTech

Consumer Skills

KAHOOT

VERSION

1. What major announcement did Intuit make in late 2023?

1. They were launching a new and improved version of Mint
2. They decided to offer Mint as a paid subscription service
3. They were shutting down Mint and the Mint app
4. They were giving away cash rewards to Mint users

“FREE” IN FINTECH | NOVEMBER 10, 2023 EDITION | NEXT GEN PERSONAL FINANCE

1. What major announcement did Intuit make in late 2023?

• They were launching a new and improved version of Mint
• They decided to offer Mint as a paid subscription service
• They were shutting down Mint and the Mint app
• They were giving away cash rewards to Mint users

“FREE” IN FINTECH | NOVEMBER 10, 2023 EDITION | NEXT GEN PERSONAL FINANCE

2. How much did Intuit pay to acquire Mint in 2009?

a) $170,000

b) $1.7 million

c) $17 million

d) $170 million

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“FREE” IN FINTECH | NOVEMBER 10, 2023 EDITION | NEXT GEN PERSONAL FINANCE

2. How much did Intuit pay to acquire Mint in 2009?

a) $170,000

b) $1.7 million

c) $17 million

d) $170 million

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“FREE” IN FINTECH | NOVEMBER 10, 2023 EDITION | NEXT GEN PERSONAL FINANCE

3. According to reports from Bloomberg, how many active users did Mint have in 2021?

a) 1 million

b) 2.5 million

c) 3.6 million

d) 6 million

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“FREE” IN FINTECH | NOVEMBER 10, 2023 EDITION | NEXT GEN PERSONAL FINANCE

3. According to reports from Bloomberg, how many active users did Mint have in 2021?

a) 1 million

b) 2.5 million

c) 3.6 million

d) 6 million

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“FREE” IN FINTECH | NOVEMBER 10, 2023 EDITION | NEXT GEN PERSONAL FINANCE

4. What is a risk you take when using free products from for-profit companies?

1. They cannot guarantee financial success
2. There's a trade-off with your privacy and data
3. Your internet connection might become slower
4. You will not be able to customize the settings

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“FREE” IN FINTECH | NOVEMBER 10, 2023 EDITION | NEXT GEN PERSONAL FINANCE

4. What is a risk you take when using free products from for-profit companies?

• They cannot guarantee financial success
• There's a trade-off with your privacy and data
• Your internet connection might become slower
• You will not be able to customize the settings

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“FREE” IN FINTECH | NOVEMBER 10, 2023 EDITION | NEXT GEN PERSONAL FINANCE

5. What advice do experts suggest regarding your financial well-being?

a) Ignore apps completely and don’t trust them when it comes to your money

b) Maintain an active role in your finances, whether you choose to use finance apps or not

c) Rely solely on apps to manage your finances

d) Only trust financial apps recommended by friends

“FREE” IN FINTECH | NOVEMBER 10, 2023 EDITION | NEXT GEN PERSONAL FINANCE

5. What advice do experts suggest regarding your financial well-being?

a) Ignore apps completely and don’t trust them when it comes to your money

b) Maintain an active role in your finances, whether you choose to use finance apps or not

c) Rely solely on apps to manage your finances

d) Only trust financial apps recommended by friends

“FREE” IN FINTECH | NOVEMBER 10, 2023 EDITION | NEXT GEN PERSONAL FINANCE

You’ve completed the exercise, now it’s time to learn

more about the current event:

“FREE” IN FINTECH | NOVEMBER 10, 2023 EDITION | NEXT GEN PERSONAL FINANCE

Discussion Prompt:

Do you use any apps for managing your money? If so, which ones? If not, why not?

“FREE” IN FINTECH | NOVEMBER 10, 2023 EDITION | NEXT GEN PERSONAL FINANCE

Extend Your Learning

Three Relevant Resources from NGPF:

• RESEARCH: Online Tools and Apps (Activity)
• Budgeting Tools (Financial Algebra Lesson)
• Fintech Apps (On-Demand Module)

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References:

• Budgeting app Mint is shutting down, to the disappointment of loyal users (CNBC)
• Mint, One of the First Budgeting Apps, Is Shutting Down (NY Times)
• Mint App Closing: What It Means, How to Pick a New Budget Service (NerdWallet)
• Mint is shutting down, and it’s pushing users toward Credit Karma (The Verge)
• The Kid Behind a $170 Million Website (Inc.com)

“FREE” IN FINTECH | NOVEMBER 10, 2023 EDITION | NEXT GEN PERSONAL FINANCE