Financial literacy is practically our middle name. So imagine our delight when we heard about Zindagi (we know, it’s pretty fun to say), a social gaming software targeted at young students to promote none other than financial education.
We love Zindagi and their efforts to raise a more financially fit generation! Not to mention, we’re dying to try it out.
What it means.
Zindagi, or “life” in Hindi, is a next-generation web and mobile platform dedicated to educating today’s tweens, ages 10-15, about finances. Its founder, Jason Young, was inspired to create Zindagi after witnessing people’s struggles at the hand of poor financial decisions. The Great Recession only further proved to Young, and to everyone else, how little people know about finances. He chose to break the cycle by starting young.
How we’re looking today.
Currently, stats on the financial education of young adults aren’t too encouraging. Over 95% of high school seniors in the U.S. are financially illiterate. And over 1 million students drop out of college each year because they don’t understand how financial aid works. We’ve even put together a list of common student loan mistakes. The “best 4 years of your life” can seriously set you back financially if you don’t have a basic understanding of credit cards and other necessary tools. In 2009, the average college senior graduated with more than $4,100 in credit card debt!
How it works.
The concept is simple: the Zindagi software (still in the process of being created, check below to see how you can help them progress) will use competitive quizzes to test a student’s knowledge on various real-life financial subjects and allow them to win points and prizes based on how he/she performs compared to other users. The program will combine “the best aspects of social gaming- competition, social networking and incentives with meaningful opportunities to interact with real money.” Can we play?
Once completed, Zindagi will be offered to students, parents, schools and non-profits. Users pay a subscription fee for premium services, but certain features will be free.
More than maximizing financial returns.
Patrick Gordon, the Zealot Team Coordinator, was kind enough to spare a bit of his time with us. “We want to touch the lives of millions of students from all walks of life and give them the tools that they need…This doesn’t just mean helping them make good financial decisions from the perspective of maximizing financial returns, but helping them build a healthy relationship with money…Money is important, but it’s not everything, and understanding its value relative to other things in one’s life is just as important as knowing how to stay within budget.”
Zindagi is looking to raise $25K with their Kickstarter campaign to support the development of a budgeting module.
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