Team Members
Amrita Shah 1005253
Devanshi Joshi 1005162
Leong Keng Hoy 1005164
Xiong Yang 1004876
Liaw Yu Zheng 1005192
Goo Jun Xi 1005247
Koh Jia Jun 1005453
Description
In Singapore, 25 percent of people don’t know when or how to get started on planning for retirement and 40 percent are aware they are not optimizing their finances. Having a financially literate population is imperative for a smart nation like Singapore to develop. The only way for us to improve financial literacy is through education, especially at young ages.
Today in our digital age, digital payments and digital currencies have replaced physical cash. This has led to the old-fashioned physical piggy bank being inadequate in getting children to develop good spending and saving habits. Our project “Rainy Day” is a financial budgeting and banking application that provides an interactive environment for children to develop good financial habits and values of budgeting and saving money. By creating an account, children can track their finances, expenses, and savings by logging transactions and viewing them in a pie chart or a table.
Parents’ accounts are connected with their children’s accounts, leading to greater accountability and an understanding of the value of money. Using their accounts, parents can track their children’s expenditures and savings, as well as top up the children’s pocket money balance. Parents can use the information obtained to choose appropriate approaches to teach their children financial literacy and track their children’s progress in this regard.
Poster
