CoinSavvy

Project Description:

The average loan student debt for students graduated from college in 2022 was $37,5746.1

The average college student has approximately $3,100 in credit card debt.

Unfortunately, today’s youth has not received either formal or informal guidance on financial matters due to improper classroom curriculum. They lack the trivial knowledge on money management like saving, spending, budgeting, responsible borrowing, investing etc. ‘CoinSavvy’ is an online platform to provide the youth with the necessary money management skills by promoting financial literacy. It will enable them to make wise short-term as well as long-term financial decisions and avoid excessive debt. This platform’s ultimate objective is to make the youth financially stable and mindful individuals when it comes to managing expenses.  

Solution Proposed Overview:

While there is already surplus information available online about financial literacy, it often exists in scattered and disjointed formats. To address this gap, we are dedicated to compiling and elaborating on this information in a coherent and accessible manner. 

Beginning with budgeting basics, the user will be taken on a journey emphasizing the importance of saving and effects of inflation and will be introduced to basic investment concepts, using real-world examples. Debt management will be another focal point, where users will be educated on different types of debt and strategies for responsible borrowing and debt repayment. The website will also emphasize the significance of credit scores and provide guidance on how to build and maintain good credit. As the user progresses through their learning journey, they will earn points and badges on completion of tasks. 

Additionally, there will be a simple budget calculator which will help the user analyze their personal expenses and maintain their financial records.