SXSW Startup: Goalsetter Makes Saving and Gifting For Kids, Simple
Goalsetter is the future of saving and gifting for kids. At the same time, this amazing, new, platform will help kids learn the value of saving and the value of money.
As Goalsetter puts it, back in the day, the best way for kids to save was with a piggy bank, or a money jar, or that cool claw machine bank. Regardless of what it looked like, kids put money they found, earned or were given into a bank and when it was time to spend it, they just cracked open the bank and went to town.
I experienced first hand, the biggest drawback to the piggy bank. I was saving for a brand new mountain bike. I figured after cutting a few lawns, washing a few cars and a couple holidays and birthdays I could get that bike. But all those trips to 7-11 to buy candy and packs of Garbage Pail Kids, quickly depleted that savings.
When I was a kid the easiest way to gift was a savings bond or a gift certificate (I didn’t even say gift card), but all that paper would end up getting lost in all the other mail and documents my parents needed. If they didn’t get lost, the idea of waiting 7 years for a bond to mature, felt like eternity.
It’s 2018 and a savings/gifting platform should be digital. After all, most parents across the country are using some kind of banking app and maybe even a secondary money app like Acorn to invest in their future. What about a kids’ future?
SXSW Accelerator finalist, Goalsetter has the answer to all of this, in a simple, easy to use platform, for both saving and gifting.
Parents connect Goalsetter to their account where they can automatically have money set aside for their kid, think college fund or even allowance. If their kids make a little money on the side, ya know marking up candy and selling it out of their locker (whoops wrong story), you know cutting the grass or baby sitting, they can give that money to mom or dad and have it put in their Goalsetter account.
On the gifting side, now instead of boring old savings bonds or gift cards that end up in the black hole of mom’s purse, friends and relatives can give Goal Cards. These cards automatically add money to their child’s Goalsetter account. Imagine grandma’s face when she finds out how responsible mom, dad and child are being.
Goalsetter also has a crowdfunding element for kids. If a kid today wants that new $300 mountain bike, they can set a goal and then send a link out to their family and friends to contribute to that goal. Now when your daughter or son totes the lawnmower from house to house asking to cut the lawn for some money, they can give out that Goalsetter link instead of asking for cash. The “customer” can contribute to the goal for the work, and I’m willing to bet those kids will get more than if they just wanted cash. For birthdays, Chanukah or Christmas, all of the uncles and aunts can contribute to the one thing kids really want rather than toys that will end up at a yardsale in a year.
For parents, Goalsetter is an FDIC insured savings account with bells and whistles that help drive home basic values of savings and make gifting super easy.
Goalsetter is a SXSW Accelerator finalist. You can see them at SXSW Interactive, March 9-13th in Austin Texas, and you can sign your kids up now at goalsetter.co