MatchFund is a new online social savings tool that combines personal finance management, social networking and financial education to help you raise a financially savvy kid.
With sleek design and user-friendly applications, MatchFund.com is not only visually appealing to teens, but it is educationally stimulating. The website has six key features:
- Goal-Oriented, Strategic Savings
- Save with Family & Friends
- Safe & Secure
- Set Good Financial Habits
- Custom Tools For Your Needs
- Analytic Graphs & Breakdowns
How it Works
1. Just like in any other case, it’s important to start by setting up goals. MatchFund has you and your child create a fund for each of your savings goals: school supplies, trips, electronics, cars, or anything else you want to put money toward. There is no limit on the amount funds you can start.
3. Every plan also needs a strategy of execution. You can create savings goals for your child and set a time frame in which to meet them. These strategies are not set in stone meaning you can modify the plans until you find the best plan for your child.
4. The social networking aspect comes into play when you build your savings community. Building a community will allow your teens to be actively involved in the banking process. By inviting friends and family to contribute to funds for holidays and birthdays your child meet his or her goals more quickly. You can choose the amount of privacy each fund receives.
5. Now comes the management part. MatchFund offers free financial tools that will help you keep track of your savings and spending. It doesn’t have to be as tedious as it sounds: MatchFund creates opportunities for interaction with a virtual stock market and updates on college tuition, scholarships and grants.
6. When you have reached your goal, you get to reap the benefits. You can cash out by having your funds sent to a bank account or placed on a MatchFund debit card.