An app that makes saving for college painless for parents and fun for kids.

Sprout Funds

 

Service Design
UX | UI Design

SCOPE

THE CHALLENGE

  • A majority of American households continue to struggle with their basic finances more than eight years after the official end of the last recession.
     

  • A majority of American households cannot afford a $500 emergency.
     

  • Americans owe over $1.48 trillion in student loan debt with the average graduate leaving college $40k in debt. 

STRATEGY
  • user interviews

  • design thinking

  • empathy mapping   

  • testing 

DISCOVERY / INTERVIEWS

In my conversations with several families, I found that, although they were strapped financially, they were already taking proactive measures to save money and bring in extra forms of income. Their main concerns centered around their children’s financial ideas, outlooks, and futures.

ABOUT
Business Woman
MEGAN REED

Entrepreneur + Mother of 2

Being an Entrepreneur gives me the freedom to make a schedule centered around time with my family. Yet, the nature of entrepreneurship often means tight financial constraints. I would love to be able to balance my goals with the goals I have for my children but, right now it just doesn't seem possible.

Speaker with Hands Raised
DAVE SCHMITT

Teacher + Husband + Father of 3

I love teaching, but the pay isn't great. Balancing my time off between family and side hustles, often I make just enough to stay on top of our bills, sometimes I can put a little cash toward my kid's college savings. Yet, even if save for the next 20 years I'll hardly put a dent in the cost of putting 3 kids through college.

Girl with Grey Tshirt
CARLA JONES

Photographer + Bartender + Mother of 1

Trying to fulfill the responsibilities of being a mother and launching my career at the same time is exhausting. I want to teach my kid good financial habits and to put him in a better position than I am in now. 

DISCOVERY / DATA

NEARLY

Children with just $500 or less saved for college are 3x more likely to attend college and 4x more likely to graduate than those without savings

Source: Center on Assets, Education & Inclusion (2013)

90%

of parents say college is an investment in
the future

66%

of parents not saving because they can't afford to

50%

of parents unaware of College Savings Accounts

OUR OPPORTUNITY

Studies prove that kids with College Savings Accounts have significantly higher rates of achievement compared to their peers.

OUR GOAL

To leverage the benefits of college savings accounts to improve financial literacy and set families up for a successful future.

GETTING STARTED

Sproutfunds meets the needs of both parent and child with personalized interfaces and onboarding experiences for each user. The parent kicks off the process by answering a series of questions with a conversational bot.

Parent Onboarding Wireframes

A conversational onboarding process is an approachable and pleasant alternative to the often overwhelming and burdensome nature of information gathering forms.

After the initial information assessment is out fo the way. The parent will set up profiles for their children. A shared QR code allows the child access to their interface. 

Once the child downloads the app and scans the QR code, they are greeted with Sprout, their own friendly chatbot. Sprout asks a series of questions that help to understand the user's needs and personalize the experience for best results.

An optional onboarding for the child helps to personalize the experience with goals and incentives that help maintain user motivation along the way.

USER FLOW

USER FLOW

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Content © 2020 Nicole Majeske