Money Hacks aims at empowering students to make wise financial decisions. Students are asked questions to help them envision their futures, building realistic budgets based on their needs and desires and the financial potential of their investments. Then, students are encouraged to track their expenses for a week to assess the plausibility of their findings. In summary, students decide what they want their lives to look like, determine the price of their degrees, estimate their earning potential, and perform cost-benefit analysis on their educational investments.
We will collaborate with banks, schools, and parents to create a way for students to manage a budget themselves for a week. We will also guide parents in offering a practice loan to their students, so that they can get the experience of paying a loan back with interest. This perspective will support students in making practical decisions.
Here is a brief narrative
Our Persona: Abby, lives in Brooklyn, NY. Spends time in the evenings attending Money Hacks workshop at school a few times in a month, is conscious about her decisions and wants to have the least amount of debt when she graduates.
Abby's friend: Sarah, also lives in Brooklyn, NY. Loves having fun every evening with friends, loves following latest fancy trends but thinks planning finance is boring!
To help Abby and many students like her, we created Money Hacks, a workshop through an integrated website that helps students and their parents in planning required finances and make better decisions for higher education and ensure reduced cost of college.
Here is the link of the website.