While working at Alinea Invest, I realized that there was a significant gap in the financial knowledge of our target audience (GenZ) many of whom were just starting out in their careers and lacked the necessary financial knowledge to make informed decisions with money.
Young people lack a solid financial foundation, leaving them vulnerable to poor financial decisions and limited opportunities for economic success.
As young adults start making money and entering the working world, many of them struggle with understanding financial concepts. This lack of knowledge can make it difficult for them to effectively manage their finances.
Finlit empowers and guides young adults in their financial journey by providing educational resources and interactive features to promote financial learning
Bite-sized lessons that break down complex financial concepts into easy-to-understand modules.
Carefully curated to provide you with the essential information you need, without overwhelming you with unnecessary jargon
We bring you exclusive content created by influencers who have successfully mastered their own financial journeys
Their unique insights, personal experiences, and practical tips will help you connect with the material on a deeper level
At FinLit, we understand the importance of learning from the best, That's why we bring you a lineup of renowned financial experts who conduct live webinars exclusively for our users
Webinars to provide you with the opportunity to learn directly from industry leaders, gain insights, tips, and strategies in real-time
You can actively participate by asking questions, seeking clarifications, and sharing your insights.
Fun Brain-Training Activities for you to improve your financial knowledge
We have quizzes, challenges, and puzzles, to help you learn and practice key financial concepts while having fun!
To gain an understanding of the finance landscape I started out with desk research to delve into existing studies and research conducted in the field. The results of this research provided me with some noteworthy discoveries
This statistic highlights a significant gap in the knowledge and understanding of personal finance among the majority of individuals across the globe
Research has indicated that women and individuals from economically disadvantaged backgrounds often exhibit lower levels of financial literacy
Studies have shown a positive correlation between financial literacy and engaging in responsible financial behaviors such as saving, investing, managing debt, and borrowing responsibly
To get a better understanding of the financial attitudes and behaviors of potential users (age group 16-35) I conducted a survey which collected 65 responses and some of the interesting insights were
used google as their primary option to search for financial information
were not confident in their ability to manage their own finances
identified the complexity of financial concepts as one of the major obstacles to gaining financial knowledge.
never tried investing
their money
reported feeling stressed or confused when it comes to financial matters
turn to family and friends for guidance on financial matters
I created two user archetypes based on the insights gathered from the primary & secondary research. This enabled me to concentrate on the needs and wants of the target audience and it became the foundation for generating ideas and aligning concepts
Search of financial information online is overwhelming and often leads to confusion, causing people to seek guidance from family/friends
Based on the insights from the primary research, I mapped the current path users take when they develop an interest to learn and improve their financial skills
I analyzed the existing apps in the financial space and discovered that there was a lack of platforms that specifically targeted financial education.
I decided to compare two apps that had features of financial education to understand how they were addressing the needs of young adults in terms of financial literacy
Based on the research and analysis conducted, I decided to explore the following opportunity areas to develop a solution that would address the need for financial education in young adults
Platform should provide information from credible and reliable sources that can provide unbiased and well-researched data
Platform can provide a space for community engagement and interaction with fellow learners and create a supportive environment
Experts and professionals can guide users in their learning process by providing valuable insights tips, and strategies in real-time. Platforms should provide a chance for individuals to gain knowledge directly from industry experts through interactive webinars and Q&A sessions.
During the ideation process, I utilized the creative technique "Crazy 8's" to generate and explore different ideas
You can choose from an extensive range of financial courses, each with varying levels of complexity from beginner level to advanced.
Each course has modules and chapters & new chapters will get unlocked as you complete the lessons
Bite sized lessons that deliver information in short, easily digestible chunks and simplified language to help you understand complex concepts
Additional resources if you wish to delve deeper
Discussion forums where you can share your doubts and get clarifications from our fin-experts
Learning is more effective when it's interactive and engaging. That's why we've incorporated interactive quizzes into our app. Put your knowledge to the test and reinforce what you've learned through our immersive quizzes
Live webinar sessions led by industry experts to provide you with valuable insights, practical tips, and advice that will help you level up your financial game
Community discussion forums where you can join discussions, ask questions, and gain insights from experienced professionals and fellow learners. Finlit fosters a supportive environment where you can learn, grow, and network with individuals who share your financial aspirations.
