TD BudgetBuddy
- Category: Financial Literacy
- Event: ElleHacks 2021
- Achievement: 1st Place
- Project date: January 2021
Tools for the New Normal
Societal norms are in the process of being rewritten by a pandemic that spans the globe. TD Bank has taken proactive measures to support their customers and communities through these challenging times, but are constantly looking for new ways to lend a hand. With the help of BudgetBuddy, TD can better understand the unique challenges undergraduate students are facing both in the short-term and those that may persist longer and contribute to a “new normal”.
Financial Literacy for Students, by Students
TD Budget Buddy is an informational and finance-tracking app that will bring the user on an international adventure. Using existing features such as TD MySpend, Budget Buddy will motivate students to maintain a suggested budget in different categories to collect points and ‘travel’ to foreign countries. Types include but are not limited to food, shopping, housing and entertainment expenses. Students will learn tips on how TD can help them take charge of their finances and budget accordingly throughout their journey.
Figma
Java
App prototype
Back-end Java program
Pitch Slidedeck
In a Statistics Canada study, 73% of students indicated that they were very or extremely concerned about using up their savings due to COVID-19
Due to online learning and national lockdowns, students everywhere have lost structure in their lives. As a result, many students have struggled with self-motivation and increased stress levels. Additionally, students and new grads are impacted by the decline in jobs as they enter the workforce, making it difficult for them to pay their student debts and basic survival needs. During this “new norm,” it is more important than ever for students to take charge of their finances. BudgetBuddy is a platform that will motivate students to set and maintain their finances through a budgeting app while going on a virtual adventure and collecting points. This design will fill the gap between the students’ lack of motivation and their need to destress. Budget Buddy can motivate students through an incentive-based virtual budget planning app while helping TD gain insights on current trends in how students spend their money.
Java back-end + Figma prototype wireframing = Powerful, Impactful & Interactive app concept
As the user maintains their account, they collect more points to advance them to each new destination. Their journey will take them on virtual adventures within the app and collect stamps from each designated country they showcase in their collection and redeem them for monetary rewards. At any point in the journey, users can reach a local TD branch at the press of a button and find out how their services can best help them manage their finances.
