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Goalsetter is a financial technology company that focuses on helping individuals, particularly families, teach and practice financial literacy. It offers a range of tools designed to help children, teens, and adults build healthy financial habits, manage money, and achieve financial goals.
Here’s a general overview of Goalsetter's key offerings and features:
1. Goalsetter App
Goalsetter offers a mobile app that combines financial education with practical money management tools. The app allows users to create goals, track progress, and save for specific objectives (such as a new gadget, a vacation, or long-term financial goals like college or a car). It helps users stay motivated by breaking down big goals into smaller, more manageable tasks.
2. Savings Accounts
One of the core features of Goalsetter is its savings accounts, which can be opened for children or adults. These accounts often come with a focus on teaching kids and teenagers how to save money. The accounts come with features like automatic savings, setting goals, and earning interest.
- Kids Accounts: Parents can open an account for their children, set goals for them (like saving for a trip or a gift), and teach them about money. It includes features for parental oversight and guidance.
- Teen Accounts: Teen users can have their own accounts with a higher level of independence, but parents can still manage and monitor activity to ensure the teen is building good financial habits.
3. Financial Education
Goalsetter emphasizes financial literacy, particularly targeting younger generations. It provides educational content such as games, quizzes, and lessons that teach key financial concepts like saving, budgeting, investing, and managing money. The app aims to make learning about money fun and engaging for kids, teens, and adults alike.
4. Digital "Cash Goals"
Goalsetter allows users to set Cash Goals, which are essentially digital envelopes for different purposes (e.g., saving for a trip, a new phone, or for a rainy day). The goal is to build a habit of saving and being intentional about where money is allocated.
5. Spending and Saving for Kids
For younger users, Goalsetter also provides tools that help them learn the importance of spending responsibly while saving for their goals. Children and teens can be given specific allowances that are automatically divided into categories like spending, saving, and giving.
6. Financial Tools for Families
Goalsetter also offers features for families to work together to achieve common financial goals. Families can link their individual accounts, contribute to goals together, and set family-wide savings objectives. It’s a great way to instill good financial habits and teach kids about the importance of collective financial goals.
7. Debit Cards
Goalsetter also offers debit cards for kids and teens, providing a safe and easy way for them to make purchases while learning how to manage their money. These cards can be tied to the child’s savings account, and parents can set limits and monitor transactions in real time.
8. Investing for the Future
In addition to basic savings, Goalsetter also offers options for users to start investing toward long-term goals like retirement or college funds, with portfolios designed to meet the risk tolerance of younger investors.
Target Market
Goalsetter is particularly designed for families, with a focus on teaching financial literacy to younger generations. It’s a tool for parents who want to set their children up for a future of good financial health by involving them in money management early on.
Why Goalsetter?
- Focus on Financial Literacy: Goalsetter combines practical tools with educational content, ensuring users learn about managing money as they use the app.
- Family-Oriented: The platform is designed with the family in mind, enabling parents to manage and teach while kids and teens learn.
- Goal-Based Saving: The goal-based approach makes it easier to save with purpose, and the tools encourage financial responsibility.
Availability & Cost
Goalsetter is typically available as a free app with optional premium features (like debit cards or certain financial services). It is available for download on both iOS and Android platforms. Pricing models may include subscription fees for certain services or account features.
In summary, Goalsetter is a tool to help teach financial literacy, practice savings, and achieve financial goals—particularly targeting younger generations and families. Its focus on financial education makes it a unique platform for improving personal finance habits in an engaging and family-friendly way.