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Napkin Finance- everything you want to know about money in 30 seconds or less (6.8.15 Update: More student sketches and our findings)

Napkin Finance is a visual, engaging, and fun guide to learning about money and finance.

Photo of Tina Hay
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Who does this idea benefit, who are the main players and what's in it for them?

Our mission is to help millennials and young adults make smart money decisions. We have developed Napkin Finance as a quick and easy resource on everything you need to know about money in 30 seconds or less. It teaches readers how to take ownership of their personal finances and understand the power and impact behind making informed money decisions. Our platform helps organizations and financial institutions create a lifetime of financial well-being for their members and customers.

How is your idea specifically using the power of communities to improve financial opportunities and resources?

Learning about finance can be intimidating and oftentimes overwhelming. The opportunity to create a lifetime of financial success is limited by the lack of access and skills. We partner with organizations that are working with young adults that may never otherwise have access to financial education. Napkin Finance has become a community of ideas and concepts that empowers readers to fully understand the complexity of personal finance.

What early, lightweight experiment can you try out in your own community to find out if the idea will meet your expectations?

The Napkin Finance platform is simple and easy to understand, administer, and distribute. It can be tested in schools and with organizations that are working with young adults. We hope to evaluate the effectiveness of our finance literacy program on different age groups and skill sets. We are also working on a more interactive napkin with videos and "clickable" images.

What skills, input or guidance might you be seeking from the OpenIDEO community to help you build out or refine your idea further?

We are working with specialists and experts in various fields to develop our curriculum and content. From the OpenIDEO community, we would love feedback on the design, clarity, and usefulness of our current program. We would also welcome suggestions for additional topics and categories and how to make the platform more engaging.

This idea emerged from:

  • An organization

Update #14: Our team is meeting with the Rise Foundation to talk about possibilities of working with the Common Cents and Save Up Program which are the financial literacy and well being initiatives. We are hoping to work with their members and provide our Napkins for better understanding of various financial topics.


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Update #13: Our team member, Soni Aggarwal helped coordinate several sessions where students created their own napkins.  This has given us the best possible feedback we could ask for. It has confirmed our thesis that a visual breakdown of complex financial topics is the simplest way to understand what they mean.


The user-generated napkins were incredibly impressive not only in their creative graphics and notes but also the way they helped classmates understand the concepts.

This was the final exam for the class "Business, Finance, and Marketing Essentials".

Here is a breakdown of the session goals and findings:

· The goal of this activity was to introduce Napkin Finance in a real life classroom environment and gather feedback from students about the effectiveness of Napkin Finance, all while viewing their interpretations of financial terms.

· The students ranged from 15 to 17 years old. Students worked in groups of three, each creating their own napkin but able to confer with each other. Each student created three napkins in the span of 45 minutes. When they finished, they saw the actual CardBlanc Napkin Finance napkins.

· The teacher was amazed by how easy to read Napkin Finance was compared to some of his textbooks. He plans to use the napkin sketching activity as future assessments.

· Since the activity was being used for a final, students were not allowed to pick their own topics. Instead, the topics were put into a hat and students randomly selected three. These topics included some from Napkin Finance, but there were also additional ones such as “Fixing Your Credit” and “Time Management”.

· The students liked how the napkins included diagrams, sketches, and examples instead of just content – it made the material easier to understand.

· Since these students are pretty young, they felt that some of the topics (Mortgages, Stocks, Bonds, etc.) were not something that they could relate to and did not apply to them. They wanted to know more about the FAFSA and the cost of living.

“Napkin Finance gave me a great opportunity to learn more about finance, and I am so glad that I now have this new resource that I can refer to in the future.” - Vinay Kasat, student 


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Update #12: Getting feedback and finding ways to improve on our process and service has been the most exciting part of our prototyping. We have now worked with numerous students ranging in age from 14 through college and beyond. 

Learnings: Overall, we have been very surprised to learn that there is a lack of financial education and basic money management in schools. Here is a quote from our Team Member, Jonathon Feavel, 

"I've learned from our user testing that many parents shield their children from the reality of managing finances until late high school or college at the earliest while many are exposed only upon graduating college.  Many believe teachers and parents realize that we need to financially empower our youth and many like having something that puts a "face to the name" of sorts in that there are not very many visual references out there for learning finance.  Having the progressive finance tax, even the videos helps walk through the basic concept so you can perceive it in real time."

Update #11: Following is our Story Board led by our team member, Jonathon Feavel. We created this with help from the Amplify Prototype Challenge Prototyping Tips video from Raphael at Ideo. We continue to build on it and work on how we can best continue to prototype the napkins with students and young adults. 

We started from Ideo to Hypotheses to our Assumptions on our users followed by a plan of action for prototyping.


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Update #10: We have a new User Experience map created with the help of our teammate Soni Aggarwal. (See attachment) 

Sarah is a student heading to college. The Student Loan Napkin helps her understand her options in paying for tuition.

Update #9: Our prototyping session with our first set of students was a great way for us to document and observe how the napkins add value. The best learning tool seemed to be their own napkin designs and sketches. We will be posting the feedback and user experience shortly.

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Update #8: Our team has put together a User Experience Map to outline and aid in our prototyping. With the help of +Acumen, we created a visual journey of our user experience and how the napkins can add value.



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Update #7: One of the most requested and popular topics for our members has been "How to Budget"? We are very excited to share the latest video here. It is a work in progress and we would love any suggestions and feedback.


Update #6: The physical napkins have arrived! We will be documenting the feedback as we distribute to students.


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Update #5: Thank you to our team for their continued feedback and contributions. Priyanka Botni has helped with our plans for prototyping and building a User Experience Map.  We have have several of our team members helping prototype the napkins in classrooms.  One of them is Soni Aggarwal and one of the teachers she is working with loved the idea of Napkin Finance so much that he wants to use the sketching activity as the final for his class.  The class is "Business, Finance, and Marketing Essentials". We are very excited to document the experience and see how the students interact with the napkins. 

Update #4: We have created a new video called "What are Interest Rates"? Would love feedback from the community. The video was created after finding ways to focus on the most important and visual aspects of the topic.


Update #3: We now have physical napkins that we will be passing out in classes. Check out the various designs below. We are also having students create "mini-napkins" by sketching out topics that are relevant to them. 

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Update #2: We hare working on the evolution of the napkin- from idea, to content, to sketch. Our topic is "What is Bitcoin"? Any input from the community is welcome.

Update #1: We have an AMAZING! team in place and have had great feedback and suggestions. Since entering the Refinement phase, we have been very focused on selecting/brainstorming/designing and implementing the top ideas:

1. Create a video of the napkins to make them more interactive

2. Printing and distributing physical napkins in classrooms to get feedback and input.

3. Show the evolution of the content from idea to sketch to help visualize the process.

We have a video we have created (please see attached) that brings to life our first napkin: What is a Tax? Would love any and all feedback!


WHAT IS NAPKIN FINANCE?

Financial Empowerment from a Napkin

Napkin Finance: Providing Access to Impactful and Smart Money Decisions

http://www.mycardblanc.com/napkinfinance

Learning about finance can be intimidating and oftentimes overwhelming. Although there may be an abundance of financial capital, there is an absence of intellectual capital, especially when it comes to young adults and millennials. The opportunity to create a lifetime of financial well-being is limited by the lack of access and skills.

Our mission is to give members the resources needed to make smart money decisions. We have developed Napkin Finance, www.mycardblanc.com/napkinfinance, as a quick and easy resource on everything you need to know about money in 30 seconds or less.

Napkin Finance empowers users to manage their money and understand basic financial concepts in a simple, engaging and visual way. Most importantly, it teaches readers how to take ownership of their financial decisions and understand the power and impact behind making informed money decisions.

Topics include:

  • Stocks
  • Bonds
  • Gold
  • Buy or Lease a car
  • Interest Rate
  • Risk vs. Reward
  • Budget
  • Saving
  • Interest
  • Opportunity Cost
  • Compound Interest
  • Mortgages
  • Student Loans
  • Investing
  • Banking
  • Building Credit
  • Credit Cards
  • Debt
  • Entrepreneurship
  • Philanthropy
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© 2015 CardBlanc

65 comments

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Photo of Anne-Laure Fayard
Team

Hi Tina, I really like the idea and all the visuals. I can see how Napkin finances can be a powerful tool for students and teachers, but also for parents. I really like your prototypes and the fact that students had to design their own napkins. Great job!

Photo of Tina Hay
Team

Hi Anne-thank you for the note! We have had great feedback from parents. The interesting thing is that all ages are finding value in the napkins. Would love your thoughts on new napkin topics or concepts.

Photo of Anne-Laure Fayard
Team

Great to hear that you received positive feedback from parents as well. I am curious if any topics or concepts that were not covered emerged from your live prototypes in classroom.

Photo of Tina Hay
Team

Hi Anne, it was interesting to see what topics resonated and were the most impactful for the students. The requests for new topics went from the more complex concepts like Mutual Funds, ETF's and Options for the older groups, and basics like different types of banks, the stock market, and starting a start-up for the younger crowd. It has been great for us to collect ideas for upcoming napkins.

Photo of Soni Aggarwal
Team

Hi Tina, loved all of the updates and progress that you have made! I wish you the best of luck.

Photo of Tina Hay
Team

Thank you, Soni! Could not have done it without you. You have been an incredible asset for our prototyping and testing. Cannot thank you enough!

Photo of Priyanka Vinay
Team

I think a cool napkin finance topic would be the emergence of different sorts of businesses and markets throughout American history. It would be able to relate all of the different concepts covered in the topics.

Photo of Tina Hay
Team

Thank you, Priyanka. Interesting thoughts. Appreciate your suggestions. Would love to hear some examples of the businesses and markets we can sketch out.

Photo of jonathon feavel
Team

Hello Tina,

The additional student interaction is a great and all of your updates, there are so many possibilities with this core unit of napkin finance. Really exciting stuff!!!

Photo of Tina Hay
Team

Thank you, Jonathon! Appreciate all your help. You have been a great resource. Excited to move forward with our initiatives and continue to build on our platform.

Photo of jonathon feavel
Team

Going along with the bullet points, if the finance napkin needs to be more interactive it sounds like the association is with the students. Perhaps as you have mentioned previously, passing out tangible napkins with the info graphics printed, whether it be in a classroom or public venue. What if schools made sure their plain napkins had a risk reward trade off depicted. Perhaps even relate the specific recent transaction to the customer, for instance seeing how the amount spent daily on what was recently purchased could be invested into a compounding account or savings (an innovative receipt that safely acts as your napkin and educational resource :) ). Perhaps even the coffee shop environment where conversations beg stimulating topics. Especially with millennials, if there was a way to keep the digital version accessible via apps or smart devices. In my perspective the majority of the population of young adults does not fully grasp the concept of debt, and interest rates, much less the different financial tools (and how they relate to the time value of money). That is why Napkin Finance is such a great idea. It breaks down that barrier between the person and the larger entity that pumps out acronyms dealing with money.

Photo of Tina Hay
Team

Agreed Jonathon! Students will be one of our core audiences and a great way to test out the platform. Per your note, we are printing out napkins to pass out in schools. Another idea is to have students sketch out topics themselves. This can create a "crowdsourced" napkin database of the various topics and we can pick the best ones. LOVE the idea of the receipt. That is a perfect place to have this kind of information. Could help us partner with merchants as well. Many thanks!

Photo of Tina Hay
Team

Appreciate all your help in the Refinement phase! Was incredibly helpful to get the napkins in front of students and learn about their approach. Thank you!

Photo of Soni Aggarwal
Team

Hi Tina, I love the idea of Napkin Finance! To make it even more interactive, I think it could be great if each Napkin was made animated. A user could explore napkins by clicking on certain images or text and getting more information on the topic. Also, I believe physical napkins, if distributed to students in business and finance classes, could broaden the impact of Napkin Finance and really help young adults make, as you said, smart money decisions. Napkin Finance is fun and informative, and I can't wait to see it progress even further!

Photo of Tina Hay
Team

Thanks Soni! Appreciate your feedback. We have been brainstorming with the team and have decided on animating into live-action videos that break down the napkins into more digestible chunks. Would love your thought when you see it. I really like the idea of having the images "clickable". Thank you!

Photo of Tina Hay
Team

Thank you for your invaluable contributions to this challenge! Your help in running prototyping sessions has been incredibly helpful for our future designs as well as finding topics that would be most relevant to high school students.

Photo of Tina Hay
Team

Hi Priyanka, we have ordered the napkins and will be distributing in several schools. It was quite complicated to find a printer who would print the sketch on a napkin without altering or shrinking the images. Would love any other thoughts or ideas on how to distribute!

Photo of priyanka botny
Team

If this helps ? - http://goo.gl/dPYH4D
There are some online printing resources. Did you try all those?

Distributing it... !
It would be interesting to start with Middle schools in your area. Team up with the local public schools and ask them if you can distribute napkins with the value prop. Let me know what you think.

I have a few questions - How would you attract kids doing so? What is the age group of these children? My concern is about them not throwing away the napkins thinking that it is a common design! How do we overcome this aspect? What are your results regarding the pilot test? Have you tested it?

Love the napkin designs!

Photo of Tina Hay
Team

Hi Priyanka,
Thanks for the note.
Yes, I tried that company but they only print in one color and found a place that can do recreate the same sketch we have.
I have a local school that is going to pass out the napkins to their students. We will see how they interact with them and hopefully they will keep them as a resource. Since we have teachers on board, it will be easier to give the napkins more value and attention.
Many thanks for your response!

Photo of Eliza Rosenbaum
Team

Hey Tina! We're loving all the conversation and input around your idea, and we're especially excited about the prospect of testing a prototype in schools with kids!

It's great that you're thinking about other ways of making the napkins more experiential, and wonder if, after students have a chance to interact with and give feedback on the napkins, what it would look like to then have them draw their own napkins –either telling their own "finance story" or interpreting a simple financial concept that can be read by a classmate in 30 seconds or less (and then maybe swap/share)? Empowering kids to TEACH these concepts to others (inspired by the simplified Napkin model) could be a powerful learning tool – and could be really fun, too!

Photo of Tina Hay
Team

Hi Eliza,
Thank you for the note! Per your suggestion, I have designed a program with a few team members to have students create their own napkins and use them to explain and clarify topics for friends and classmates. These will be part of our simplified "mini-napkins" experiment. Will keep the community posted on our progress. Many thanks and appreciate all your suggestions!

Photo of Shane Zhao
Team

Tina, it's fantastic to hear that your team is having students create their own napkin sketches! We'd love to see some examples of this "mini-napkin" experiment and the feedback that you've collected from the students. It'd also be great to share some photos of the student workshop with the OpenIDEO community. Looking forward to the updates!

Photo of Tina Hay
Team

Hi Shane, Thanks for the note! We just received the physical napkins and will be distributing in schools. We will be taking photos of their interaction with the napkins. Any other suggestions or ideas would be very much appreciated!

Photo of Tina Hay
Team

Hi Priyanka, thank you again for taking time to help with the Refinement phase. We have had great feedback and suggestions from the openIDEO community. Would love your thoughts on the napkins created by students we have added to the site.

Photo of Tara Raffi
Team

Napkin Finance is AWESOME. It's such a good way to engage people (even people who have learned these topics before) and get them to thoughtfully consider fairly complex topics. I also really like the added engagement the video provides, and that it gave an opportunity for me to learn more in just as captivating a way as the napkins.

One thought - have you incorporated any way for users to submit feedback directly on individual napkins? If it can be easy for users (ie short, work seamlessly, contribute to their positive experience), a survey at the end of the digital form of the napkins could be a powerful way to see which ones are working the best, and how to potentially tweak ones that people may struggle with more. Thoughts?

Photo of Tina Hay
Team

Tara- thank you for the note. Really like your suggestion of collecting feedback on the napkins directly. We have been testing out a few of them with students and have that some of the topics really resonate with certain age groups. Those in high school are interested in Student Loans and Credit and Debit Cards. College age kids are more curious about Taxes, Investing in Stocks and Buying vs. Leasing a Car. Will look for ways to collect more direct feedback. Thank you!

Photo of Matthew Ridenour
Team

Tina this is AMAZING! Beautiful, simple concept with great visuals– very well executed! Wondering: are all the napkins digital (online)? Do you/could you bring them as actual physical napkins when educating young people on financial literacy? I'm envisioning a pack of cardstock printed versions of each of these that could be purchased or donated to young people. I work with youth and they are so "interaction" focused– is there an opportunity to make the "napkin" idea an interactive digital interface? Could it animate further information if the user clicks on a particular graphic or phrase? Or even simply filming a short video for each napkin with a voice explaining the sketch? I'm just throwing ideas out there. Wonderful work– keep it up, and I look forward to seeing where Napkin Finance goes next!

Photo of Tina Hay
Team

Thank you, Matt!
For now, the napkins are all virtual but we would love to do something offline- a book or printed versions. I really like the idea of making them interactive. We are brainstorming ways that are unique (not the typical whiteboard). Appreciate the note!

Photo of Tina Hay
Team

Hi Matt, we have added several new videos and would love your thoughts. Tried to capture the topics in visuals. Would love any thoughts or suggestions on how to improve. We are now testing the physical napkins in schools and will be posting the feedback shortly.

Photo of fouad fahd
Team

Love this concept... Its simple, it;s graphic and easy to understand.
Would it be worth having a landscape mobile app that shows all napkins in high resolution where one can zoom in, and tap on various terms for more info?

Photo of Tina Hay
Team

Hi Fouad, Thanks for your note! We are working on integrating the content and napkins into a mobile friendly version. Would love your thoughts on our videos. We tried to make some of the points stand out, and will experiment with "zooming in" when we get it up and running.

Photo of Hilde Bull-Engelstad
Team

This looks great, Tina!! :)

Photo of Tina Hay
Team

Hi Hilde, would love your thoughts on our latest updates. Especially the videos. We will be adding a few new ones shortly. Appreciate your input!

Photo of Joanna Spoth
Team

Tina, I would totally use Napkin Finance! Instead of typing my questions into Google, it would be great to have a reliable website that was high quality and fun. Thanks for posting and I'm excited to watch your idea evolve.

Photo of Tina Hay
Team

Hi Joanna..would love to get your thoughts on our latest updates. We are excited to have the napkins distributed in schools and we are further building our curriculum to your point of making it a destination for all questions regarding financial topics. Any other feedback or suggestions are appreciated!

Photo of Matthew Ridenour
Team

Hi Tina– SO glad you're pushing this forward with such VISION and VIGOR! It will be great to get user insights from students. I look forward to hearing the responses you get. Agreed that it's not necessary when you're testing out prototypes to have real "napkins"... I could almost see these printed on something much more durable like a cloth or handkerchief material that is durable and packable, as opposed to paper that can rip, etc. But that can all be designed as you move forward. As this progresses I would be willing to show this to some students here in San Francisco to gauge reactions as well– let me know if helpful! Keep those "napkins" coming!!

Photo of Tina Hay
Team

Thank you so much, Matt! Would love to have the napkins distributed to students in SF. Will be interesting to see how they react to the content. Agree that we can experiment with different fabrics..will be curious to see how the napkins are handled. Many thanks for your note.

Photo of Tina Hay
Team

Hi Matt,
We have received the napkins from the printer. Would love any suggestions or ideas on how to distribute and collect feedback. Happy to send some over to test with students in SF..

Photo of jonathon feavel
Team

Hello!

Video is a great way to add the order or flow the learning experience from the napkin, some feedback so far is that there seems to be a huge lack of exposure to financial concepts (1. Most likely obvious 2. Means there's a huge place for this financial tool) but the interesting feedback suggested an alternative focus. The generation which is financially savvy or at least more so than the younger generation, provides a shield ( or the numbers I have engaged with have said) that leaves a steep learning curve when financial independence is calling. Perhaps some emphasis on those who do know the topics, or ways to increase exposure (like with napkin finance) in homes or from role models and shrink that literacy gap. I realize some of what I mentioned is redundant within comment and to the other great ideas in this thread but thought it would be important to note some of the feedback so far pointing at lack of exposure from role models, parents, family or older generations as well. Videos look excellent!!! Thanks everyone.

Photo of dswezey2 .
Team

Hi Tina - love this idea and hope we can get these napkins in front of everyone in the US! Financial literacy is something that needs to start for everyone at an early age and I think doing it in 30 seconds or less is awesome! Keep it up and I hope to see these around soon!

Photo of Tina Hay
Team

Duncan- thank you for the note! Our hope is to make financial topics accessible and engaging to all ages. Really appreciate your input!

Photo of priyanka botny
Team

Hey Tina! Congrats on making it to the Refinement phase! I recently went through the Refinement phase of the "How might we use the power of communities to financially empower those who need it most?" , and the OpenIDEO team recommended that I reach out to you to share my experience and help guide you through the process. Feel free to reach out if you have any questions - I’m excited about your idea, and happy to share my stories, my experience with OpenIDEO and my process during the Refinement phase!

Photo of Tina Hay
Team

Hi Priyanka, Thank you so much for the note and would love to your help and input. We have been working hard on some really fun ideas. Have also started the Ideo/Acumen course on human centered design. Would love your help with organizing the ideas to help with implementation. Also, based on your experiences, would love help with making the content more mobile-friendly. Many thanks in advance and excited to have you on board!

Photo of priyanka botny
Team

Hi Tina,my pleasure !! - Will youth be able to use the napkins, physically? Are those napkins printed and sold at places like restaurants etc..

Photo of Shane Zhao
Team

Lovely use of engaging visuals to break down financial concepts Tina! I took a look on the Napkin Finance site and was wowed by all the visual goodness for each financial topic. Have you considered featuring napkin sketches from your viewers? It'd be interesting to have people map out how they make financial decisions in their own lives. This might be an interesting activity to explore in financial literacy courses:)

It'd be helpful to include more of the financial napkin sketches from your site in the body of this idea post. That way, people will be able to gain a better understanding of this concept upon first glance. And it'll also be great to activate the link to your Napkin Finance site. To activate links in your post, hit the Edit Contribution button at the top of your post . Scroll down to your Full Description field. Select the text you'd like to link, hit the link icon in the Rich Text Editor at the top of this field and enter your link. That way everyone will be able to check it out easily, straight from your post.

Looking forward to more updates!

Photo of Tina Hay
Team

Hi Shane- love your ideas. Would be great to see how viewers visualize and understand financial concepts. Appreciate the note and have added more images to the text. Many thanks!

Photo of Tina Hay
Team

Hi Shane, thank you again for your note. Have been working on some great ideas and new designs. One question I have is what is the best way to organize images, videos and new attachments on this page? Would like to post with each update. Should I add as an attachment or insert with the text? Also, what is the best way to load an experience map or series of prototypes? Many thanks in advance!

Photo of Laura Huynh
Team

I am currently a big fan of Napkin Finance and its purpose and ideas! The current layout is one that really draws my attention. I feel as if extra interaction is not needed because the current simplicity of the "napkin finance" captures interest and shows viewers that it is something they can look at and learn in only a matter of minutes. The current design of Napkin Finance is something I am actually following on the instagram page! I also understand that Napkin Finance is already covering a number of topics. However, I suggest that the topics should expand to something that young adults would be interested in. For example, topics such as "Paying for College" or "Using Money From Your First Job." By expanding the audience, the word can get further out and we can have a variety of followers.

Photo of Tina Hay
Team

Thank you, Laura! Great thoughts on keeping the simplicity. We are actually thinking of putting together mini "napkins" and love the idea of topics that like "Paying For College" and "What To Do With Your First Paycheck" for those. If you have any additional ideas for the mini-napkins, would love to hear them. Thank you!

Photo of Sara Wu
Team

Hi Tina, I love how fun Napkin Finances are! You can consider adding funny knock-knock jokes about that topic and hide the answer in the Napkin Finance so it's more interactive and interesting. Also, adding QR codes can make it more interactive and can provide more information to links of websites and videos. You can also add GIFS that would make them more entertaining. Maybe a voice over about the topic of the Napkin Finance in a Vine Video will help spread it to other teens who typically use Vine. Another suggestion is to add short quizzes or horoscopes that tells you something about yourself about that topic (Example: If I spend more than $1,000 on clothes a week, and usually have no cash with me, that means I am a spender or shopaholic). Good Luck!

Photo of Hilde Bull-Engelstad
Team

Congratulations making it to the Refinement phase Tina! Your idea is brilliant in its simplicity and it is extremely user-friendly. Its very different and can be used in so many settings! An idea could be to make different Finance napkins for different settings such as birthday napkins, Christmas napkins, Easter napkins etc. One thing I feel is worth mention though, is that I found the slogan "all about money in 30 seconds or less" a bit misleading as its not all about money in 30 seconds, it is a part of it. What about "Complex Finance learned in 30 seconds" or something? - Just a thought and suggestion in order to be a bit clearer and not disappoint users. Keep up the good work, Tina! I'm excited to see more about your napkins! :)

Photo of Tina Hay
Team

Thank you, Hilde. That is a great point. The reason we picked it is that it helps capture people's attention..hard to have the same impact with other words like "financial". Would love ideas on how to make the tag line "catchy" but more descriptive.

We are working on printing the napkins out and I agree that it would be great to have a physical version for different occasions. Thank you for your note!!

Photo of Hilde Bull-Engelstad
Team

I get your point and I totally agree with you. If you want to reach and convince kids you definitely need to communicate with the right language. A good idea could be to use only the most common words (ex. 100 most common words). Your slogan could be as easy as "Things about money in 30 fun seconds" or "30 fun seconds about money". Just throwing out some suggestions..:)

That's awesome, and I look forward to see where this is going :)

Photo of Joy Hsu
Team

Hi Tina!
I think Napkin Finance is an innovative idea and it'd be great to see it implemented in high schools or other educational settings. Not only is it engaging, it also focuses on some of the most important parts in finance, which most schools don't bother to teach. I'd suggest testing it out in secondary school business classes with to gauge the responsiveness of the students with a simple quiz! Loving the designs by the way!

Photo of OpenIDEO
Team

Congratulations on making it to the Financial Empowerment Challenge Refinement phase, Tina! Your idea is approachable, elegant and visually gorgeous, and it does a great job of bringing complex topics to life.

Now that the community has had a chance to check out the materials, one potential next step might be to create some user scenarios or experience maps to demonstrate some situations where Napkin Finance would be delivered and bring the process to life. Your target audience is millennials and young adults, but who are the real users? What’s their story? Why do they care – and what’s the outcome?

Like some OpenIDEO community members have suggested, you might also consider exploring ways of making the napkins more experiential. Could that mean making the digital versions more interactive? Would we be able to experiment with what they’d look like printed out? Could they be used as a teaching tool? (Perhaps you might find some inspiration from Andre’s Financial Overview Kit idea). Or could users be empowered to create their own Napkin Finance sketches (and perhaps upload them? Could there be a reward for this)? These provocations might spark new ways of making this idea more community-centered. We’re excited to see this idea move to the Refinement phase, and look forward to seeing more exciting collaboration! Don’t forget to check out our Resources page (https://openideo.com/content/resources) and these tips for Refinement (http://bit.ly/oi-refine), too.

Photo of Tina Hay
Team

VERY excited to be a finalist in the Refinement phase. Would love help and suggestions from the community in our next steps. We are working on making the napkins more "interactive" and brought to life through animation and video. We are also working on a creative and fun way to print them out on actual napkins. Love the idea of having members create and upload napkins as well. The one thing we know is that having the sketches and visual elements helps understand and simplify things.

As for who the users are, we are working with a couple classrooms to see how students interact with the napkins and how it would improve their learning.

All suggestions and ideas are very much appreciated!

Photo of Justin Bean
Team

Great idea, Tina! I love the use of simple and compelling visuals that convey complex and important topics in a fun, engaging way! I also like that the website goes into more depth, and after reading the napkin the user will be enticed to learn more. It would be nice to see some of the common "fails"or "gotchas" that are out there explained in a simple manner as well (i.e. institutions charge management fees for low (<$10k) balances that wipe out interest earnings, paycheck advance total interest paid, difference between annual interest and total interest repaid over lifetime, etc). This could help further empower people with low financial resources and/or financial literacy to avoid these traps and best allocate their limited resources to become financially liberated.

Photo of Tina Hay
Team

Hi Justin,
Love the idea of "fails" and "gotchas"! There are so many tips that are useful and very simple. This could also mean providing links or referrals to the best alternative or affordable option. Thank you for the note!

Photo of Christopher Blivin
Team

Hello Tina,

I think your concept is very powerful (as everyone seems to agree below). My question is related to Hoong's; how would this be implemented into communities? Gamification is typically a very powerful tool, especially for the millennial generation you are targeting. While I love the concept of learning finance in 30 seconds or less, figuring out how to engage in a way that creates lasting impressions is becoming increasingly challenging (especially with the millennial generation).

I think providing the napkin set either paired with, or as an independent MOOC could be one way to increase engagement. While current MOOC completion percentages aren't overly impressive, it would certainly allow for those who are committed to learning about finance a community and collaborative process for learning. It would also serve as a means to hold an individual accountable for engaging in a more meaningful way with your great product. A video to help explain each napkin would be incredibly powerful and and informative way to make sure the people using the content have more than one way of learning.

I look forward to following the product! Best of luck!

Chris

Photo of Tina Hay
Team

Dear Chris,
Thank you for the note! Really like the idea of unlimited open access as a MOOC. We are building new topics and additional categories, so we will have a more robust curriculum to offer. We have been thinking about ways to make it more engaging in the form of video or animation. The challenge is to make it approachable and not "homework". Appreciate your feedback.

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Team

Congrats on this post being today's Featured Contribution!

Photo of Hoong Chun Wong
Team

Hi Tina,
This looks good and interesting. Turning an dry topic into something that's short and sweet.

However, what platform it works as? A board game? An education content module?

Have you consider to intergrade into a game instead. I think it will appeal to large audience like the cash flow game by Robert kiyosaki.

Just a thought

Photo of Tina Hay
Team

Thanks Hoong, we have not gamified the platform yet. I like your ideas and think there are some interesting things we can do. Appreciate the note!

Photo of Hoong Chun Wong
Team

Hi Tina,
This looks good and interesting. Turning an dry topic into something that's short and sweet.

However, what platform it works as? A board game? An education content module?

Have you consider to intergrade into a game instead. I think it will appeal to large audience like the cash flow game by Robert kiyosaki.

Just a thought

Photo of Trevor z Hallstein
Team

I love the name. It makes it sound very accessible!