Join hunts with friends and family to get the savings treasure!
Our goal was to make finance fun and for the learning experience to be sustainable. We were inspired with the popularity of social media and how they allow community collaborations. Specifically DietBet, a kickstarter that allows people to join a bet with a group to lose a specific percentage of weight.
So our application, Chest, allows users to import their savings and investment accounts to join a challenge group. Each group has a goal to maintain within a specific savings goal percentage to a deadline date. At the end of each challenge the winners all get a "treasure". The "treasure" is decided by the group at the beginning.
An example group would be a friends group who all decide to go to a nice dinner together!
In the case of a company sponsor, like Capital One, the winners in the group all get a prize sponsored by the bank. (You can sync only Capital One accounts for that hunt.)
The idea is to do a "treasure hunt" with a community in order to encourage smart savings and investments.
This open dialog with your friends and family will promote financial literacy. Parents can make a group with their children! And friends can help each other stay out of the red!