Instill good savings habits and provide collaborative savings among the adults in a kid’s life
Play and learn with games and tips about savings
Watch their savings grow
Offers an actual savings account with the assets in the account custodied by existing wealth channels
Evolves gaming and teaching as the child matures
Provides access to the child’s savings to spend or donate some of the assets, based on a parent’s approval
THE GIFT THAT KEEPS GROWING
NuMoola gives the adults in a child’s life
an alternative to just giving cash.
They can make a contribution to a child’s
savings and watch it grow! And they can
even distribute part of the savings
contribution to a kid’s piggy bank so the
child can purchase an actual gift from our
trusted retail partners or at any retail outlet
of their choice.
Adults will have the option to send a gift
contribution (e.g., birthday) with a physical
card addressed to the child.
Contributions are made to a linked savings
account, or 529 Plan at an existing
wealth channel. Parents have the ability to
set up a Piggy Bank where a portion of certain,
or all, contributions gets deposited into a spending
account. Contributions can be earmarked for
either savings or spending accounts by adults.
Administer NuMoola to ensure savings parameters
are maintained and not abused and spending
accounts are used properly.
NuMoola uses gaming as the basis for learning by teaching children the principals and resulting benefits of saving. VR gaming, rewards, penalties and contracts encourage good life habits like doing household chores, studying, etc.