Inspiration
We still struggle to understand finance and about 44% of Americans do not even have a $400 cash to cover an emergency. Source: https://www.forbes.com/sites/danipascarella/2018/04/03/4-stats-that-reveal-how-badly-america-is-failing-at-financial-literacy/#1e3e12372bb7
What it does
It helps the kids age 13 and above to be enrolled in this financial training. We have made it as a gamification platform where students can learn about finance and then answers questions on a quiz.
There are two aspects of this application: Parents portal - Parent can register their kid and keep track of what the kid is learning and what reward he should get. The point of dollar conversion ration remains in their hand. Once the student/children reaches that level, the fund for example say $5 gets transferred from parents account to childs account
Student portal - They go higher up in levels as they learn. They earn points for every quiz. They learn about investment on each and every quiz with practical scenarios. Some investment options that we thought to teach them were Certificate of Deposit, High-yield savings account in Credit union etc. At the end of the 10 topics, they would earn reward from parents in real dollars and they can choose the best investment option based on what they learned in the course. However, the final approval of investment will to go to parents and they will approve it. We understand parents can also invest this money, but the whole concept is make children understand all this terms.
How we built it
Front end- Html, PHP with Apache server, Javascript, jQuery, Bootstrap 4 Middleware - RESTful APIs in SpringBoot, Java Backend - MySQL
Microservice used to call the MySQL database and also did business logic processing.
Challenges we ran into
Time - We wanted to show the points part of it but we couldn't.
Accomplishments that we're proud of
Made friends, learnt a lot and understood different problem statements of companies
What we learned
Some members learned creating microservice, some learned about MySQL database
What's next for Capital One Cares
We will complete it and make it a full fledged app. We are also thinking of other ideas -Using the points that students earn after quiz, would be used for a budget simulator module. In this module, they have to make virtual purchases for basic necessities like utilities, rent home, food expense. This will help them understand more about life expenses at such a young age.
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Description for a 5-year-old
When you get older, one of the things you will have to deal with is money. These games and fun videos will help you learn about money and earn prizes!
Description for a peer
Web application created for kids to become financially literate through highly interactive modules, quizzes, and rewards.
Description for a senior engineer
Dynamic web application designed for parents to provide their kids the gift of financial literacy through a reward system based on interactive module completion.
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