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Designing a challenge-based financial literacy mobile app for youth & mentors

Moneythink + Causelabs + IDEO.org

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Hello, again.

Whew! It’s been an amazing six weeks.

How we got here

A challenge-based mobile app

User narrative

Roadmap to savings

What’s next?

APPENDIX

App screen library

Challenge curriculum

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How we got here

6 weeks2 trips to Chicago3 schools, 1 organization2 live prototypes on GroupMe11 cohorts of youth testers4 deep dish pizzas1 tornado–1º wind chill

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How we got here

6 weeks2 trips to Chicago3 schools, 1 organization2 live prototypes on GroupMe11 cohorts of youth testers4 deep dish pizzas1 tornado–1º wind chill

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How we got here

6 weeks2 trips to Chicago3 schools, 1 organization2 live prototypes on GroupMe11 cohorts of youth testers4 deep dish pizzas1 tornado–1º wind chill

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A challenge-based mobile app

The Moneythink app is an

interactive social platform for

youth to engage in challenges

that build financial awareness,

skills, and habits for saving.

Challenges are facilitated by mentors

each week and driven by peer interaction

on an ongoing basis through the app.

Students are rewarded for completing

challenges through a points system and

competition for recognition.

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How might a high school

student discover the app?

How would the week-to-week

experience unfold?

WE ASKED…

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User narrative

JeremiahHIGH SCHOOL STUDENT

• 17 years old

• Wants to be a pro athlete / philosopher (double major)

• Attends Perspectives High School

• Love: #cheetos, #sunnydays #mycar #snapchat

• “My money just seems to disappear.”

SashaMONEYTHINK MENTOR

• 22 years old

• Attends Northwestern University    

• Majoring in Economics

• “I’m passionate about creating a positive influence.”

Meet…

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USER EXPERIENCE

Week 1: Day 1

At school one day, Jeremiah goes to a new

class called Moneythink. There he meets

Sasha, a college student who says she’ll visit

every week to mentor him and his classmates.

During class, Sasha introduces an app that

has 9 weeks of challenges around financial

literacy. Jeremiah downloads the app and

opens it for the first time…

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USER EXPERIENCE

Week 1: Day 1

At school one day, Jeremiah goes to a new

class called Moneythink. There he meets

Sasha, a college student who says she’ll visit

every week to mentor him and his classmates.

During class, Sasha introduces an app that

has 9 weeks of challenges around financial

literacy. Jeremiah downloads the app and

opens it for the first time…

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USER EXPERIENCE

Week 1: Day 1

At school one day, Jeremiah goes to a new

class called Moneythink. There he meets

Sasha, a college student who says she’ll visit

every week to mentor him and his classmates.

During class, Sasha introduces an app that

has 9 weeks of challenges around financial

literacy. Jeremiah downloads the app and

opens it for the first time…

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USER EXPERIENCE

Week 1: Day 2

At lunch the next day, Jeremiah remembers

the SnapTrack challenge’s instructions, and he

snaps a photo. He tags it #saving and shares

it to the app. He immediately gets 10 points.

Nice.

He’s curious to see what photos his

classmates have been sharing. He laughs at a

few of their posts as he browses the

Challenge Room and hits Like…

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USER EXPERIENCE

Week 1: Day 3

Walking to class at Northwestern,

Sasha pulls out her phone. It’s been a few

days, and she’s wondering how her students

at Perspectives are doing.

In the Mentor Notifications screen, she notices

Jeremiah’s recent activity. The app already

gave him points, but she adds a comment to

cheer him on.

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USER EXPERIENCE

Week 1: Day 3

Walking to class at Northwestern,

Sasha pulls out her phone. It’s been a few

days, and she’s wondering how her students

at Perspectives are doing.

In the Mentor Notifications screen, she notices

Jeremiah’s recent activity. The app already

gave him points, but she adds a comment to

cheer him on.

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USER EXPERIENCE

Week 1: Day 6

By the weekend, Jeremiah has posted 10

photos to the Moneythink app. It’s been fun to

see everyone’s posts and the different

hashtags they’ve used.

He’s excited for the Moneythink mentor

session the next week and for the second

challenge to begin!

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USER EXPERIENCE

Week 1: Day 6

By the weekend, Jeremiah has posted 10

photos to the Moneythink app. It’s been fun to

see everyone’s posts and the different

hashtags they’ve used.

He’s excited for the Moneythink mentor

session the next week and for the second

challenge to begin!

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USER EXPERIENCE

Week 3: Day 1

By Week 3, Jeremiah is hooked on

Moneythink. In the app, he can even see what

challenge is coming up next:

“The ‘In’ Crowd.”

Jeremiah’s heard of LinkedIn before, but he

never thought it was for him. He sets up a

profile, links to his mentor and five classmates,

and posts his profile’s URL in the Challenge

Room.

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USER EXPERIENCE

Week 3: Day 7

It’s Sunday evening, and that’s when Sasha sits

down to lesson plan for next week’s mentoring

session at Perspectives.

Sasha opens the Moneythink app and notices

Jeremiah’s post needs a review, which she does

and approves with a tap.

Sasha also notices two students often mention

favorite athletes. She plans to make this a hook

in her next lesson on Jobs.

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USER EXPERIENCE

Week 3: Day 7

It’s Sunday evening, and that’s when Sasha sits

down to lesson plan for next week’s mentoring

session at Perspectives.

Sasha opens the Moneythink app and notices

Jeremiah’s post needs a review, which she does

and approves with a tap.

Sasha also notices two students often mention

favorite athletes. She plans to make this a hook

in her next lesson on Jobs.

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USER EXPERIENCE

Week 3: Day 7

It’s Sunday evening, and that’s when Sasha sits

down to lesson plan for next week’s mentoring

session at Perspectives.

Sasha opens the Moneythink app and notices

Jeremiah’s post needs a review, which she does

and approves with a tap.

Sasha also notices two students often mention

favorite athletes. She plans to make this a hook

in her next lesson on Jobs.

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USER EXPERIENCE

Week 9: Day 1

Fast forward six weeks: Jeremiah has learned

a lot about managing money and even saving.

Sasha’s mentoring lessons feel more real

once he’s applied them in a challenge. Even

when he’s tried and failed.

The app shows his progress: he’s earned the

“Money Maker” and “Money Manager” titles. He

has a lot to be proud of.

He can’t wait to show his parents.

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Screen flow

Student appMentor app

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STUDENT APP

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MENTOR APP

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Roadmap to savings

Curriculum of Challenges

Design principles for challenges

Challenges for MVP

Points/rewards system

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ROADMAP TO SAVINGS

Design Principles for Challenges

1. Be simple and direct   

2. Make it interactive and actionable

3. Bridge theory and reality  

4. Make it relevant and adaptable to

youth’s contexts

5. Make it intrinsically rewarding

6. Produce evidence of

accomplishments  

7. Surface hidden talents

8. Build on existing behaviors  

9. Guide them to mastery of skills

10. Let youth drive the experience 

11. Make it collaborative

12. Leverage social: spark sharing,

conversation, and feedback

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ROADMAP TO SAVINGS

Challenges for MVP

1. Snaptrack

Snap photos while you’re #spending and

#saving this week. And be honest!

2. MiniGoal

Set a small financial goal (#minigoal) and celebrate

when you accomplish it by posting to the feed

3. The ‘In’ Crowd

Use LinkedIn to make connections and

show off your skills

4. Savvy Selfie

Add a professional twist to your personal style and

adapt your look for the working world

5. Set to Save (1 of 3)

A key to financial success is making a budget.

And sticking to it.

6. Snaptrack to Save (2 of 3)

Think like a master money manager—a budgeter!—

by photo-tracking this week using the spending

categories you set for yourself.

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ROADMAP TO SAVINGS

Challenges for MVP

7. Reality Check Your Budget (3 of 3)

Did you keep your spending in check last week?

It’s time to find out!

8. Windowshopping for A Bank

Checking? Savings? Big bank or check-cashing

shop? Tap the wisdom of the crowd as you

research to find the best option for you.

9. Brainstorm the Next Challenge!

Had fun with our challenges? Think you can do one

better? Here’s your chance. Post ideas for new

challenges that teach financial literacy and how to

save money. Now you’re the expert #humblebrag.  

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ROADMAP TO SAVINGS

Example 1. SnapTrack

HYPOTHESIS

By creating a space to document and tag spending

and saving moments, youth will become more

aware of their spending and saving habits.

HYPOTHESIS VALIDATION

Qualitative: Hashtags reflect an awareness of

trends and a propensity towards behavior change

Quantitative: Number of saving vs. spending

moments; decrease in number of frown emojis

over time

Rule of ThumbBudgeting

Mastery AreaMoney Manager

SkillsTracking Spending, Sorting

Expenses, Proto-Budgeting

Ideal Partner LessonWhy Moneythink, How

People Succeed, Net Worth

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ROADMAP TO SAVINGS

Example 1. SnapTrack

HOW IT WORKS

1. Youth snaps and shares financial moments over

one week, tagging each moment with emoji and

hashtags  

2. Youth posts a minimum of 10 photos and posts

them in the Challenge Room

3. The app automatically awards points for the first

10 photo posts (10 points each) with a cap at

100 points.

4. Youth are encouraged to comment on others’

posts.

Difficulty: Easy

Reward: 100 points for

completion

Response visibility: Public

Verification: Photo

Approval: Auto

Time Limit: 1 week

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ROADMAP TO SAVINGS

Example 1. SnapTrack

STUDENT-FACING CONTENT

Tagline: Snap photos while you’re #spending and

#saving this week. And be honest!

Mission: Share photos each time you’re #spending

or #saving and add your stamp with emojis and

hashtags that fit the moment (#getmeouttahere,

#greatchoice, or #retailtherapy). Be creative and

get real.

Goal: Understand how you’re spending, so you can

make better decisions about when to buy and

when to resist temptation.

Steps

1. Snap a photo.

2. Share it in the Challenge

Room and tag it as

#spending or #saving.

3. Add emojis and your own

creative hashtags.

4. Check out your

classmates’ posts and

add your comments.

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ROADMAP TO SAVINGS

Example 1. SnapTrack

MENTOR-FACING CONTENT

Remotely Spur participation by leaving comments, liking

posts, and reminding students of the 100 point reward.

In Class

• Use the opportunity to have students reflect on their

spending vs. saving moments and how they felt at

each point.  

• Are there more frowns then smiles? How do we get

towards a different equation?  

• Call out students who have done a phenomenal job

saving and/or encouraging others to save.

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ROADMAP TO SAVINGS

Points/rewards system

1. MVP is designed so that the

completion of each challenge

will award students with points

either automatically or via

mentor verification.

2. These points will be displayed in

the “challenge” tab.

3. At the outset of the pilot experiment,

students will learn (verbally, in class)

about the trade-in value of their

accumulated points. Moneythink will

likely test both a merit-based rewards

system in one class and a contest-

based rewards system in the

remaining classrooms.

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What’s next?

MVP-Concept Roadmap

Notes on Experiment Design

Hand off to Causelabs

Follow-up calls to support

development

Keeping in touch with updates &

inspirations

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MVP-CONCEPT ROADMAP

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NOTES ON EXPERIMENT DESIGN

Key Questions

1. Should we design to engage all students within the

Moneythink classroom or just those with Android

devices?

2. Will partner schools feel uncomfortable with only

half of their students participating?

3. Will mentors feel uncomfortable with only half of

their students participating?

4. Will dividing students based on possession of a

specific device disrupt the small-group structure

already in place?

5. If we design for an all-class experiment, will we use

GroupMe, Kik, Facebook, or some hybrid for those

without Android devices?

6. If we design for an all-class experiment, what

supports do we need to have in place for mentors

while running the experiment?

7. If we design for a Android-possessor-only

experiment, what supports do we need to have in

place for mentors while running the experiment?

8. What sort of check-in schedule should Moneythink

(Jen) commit to?  How many in-class visits / how

many touchbases with mentors?

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See you in the Challenge Room.

IDEO.org