• Cache

    Poverty

    Untitled-1_432_

    Cache

    Developing Financially conscious minds

    In partnership with Sweat Equity Enterprises

    Problem Adolescents are becoming key figures in our economy but current marketing and branding schemes are steering the future in the wrong direction. The media and peer pressure is causing our young adults to become indulgent consumers. As of 2007 U.S teenagers are spending roughly 80 billion dollars of their own money and by the year 2011 teens will be spending upwards of 208 billion dollars. These young adults have reached a point where vanity is everything and money is the means of achieving it. This skewed perception is causing our emerging adults to become financially irresponsible.

    Solution Cache is a program that employs technological tools that would help teens understand their spending and saving habits. Tools such as Stash Box a 3 dimensional Savings Account which would show the user their pathway towards their financial goal, and Cache card a Budgeting Debit Card that would display their spending patterns on the card.

    Benefits Adolescents would realize and understand their buying and saving patterns. By doing so they would comprehend and master the essential “tool set” (budgeting finances) before transitioning into adulthood.

    Next steps I Hope to collaborate with investors, manufactures and Electrical engineers that could help me bring Cache to the market.

  • Kevin,

    I've been invited to give feedback to all Parsons students, regarding your thesis projects.

    I think you've done a terrific job of identifying a problem and offering a systemic solution. It's true that consumerism is on the rise and impacting a whole generation of youth in terms of fiscal responsibility.

    Your solution to this problem is refreshingly creative. With Stashbox and Cache Card, you've considered a 3D savings account as well as a card that will reflect back to youth and teens their spending patterns. Both ends of cash flow (input and output) are represented, which helps to paint the big picture in a cyclical fashion.

    Most interestingly, you have an ultimate goal of educating early on how to be financially responsible. This reflects a long-term approach, which has a better chance of bringing about systemic change. For the greater good.

    Very well done. Good luck with bringing it to fruition! J.

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