GRAND RAPIDS, Mich. — Senior James Johnson and associate professor Julie Goldstein were working on the app FinLit Friday afternoon.
When completed, FinLit will be a tool to help students manage their money.
GVSU Associate Professor Julie Goldstein said, “It's basically a financial literacy app that is going to attempt to try to make the information available and accessible to college-age students. So, it's empowering college-age students with their finances.”
The prototype was developed by high school students in 2021 as part of the university’s REP4 program.
“First what we're doing is looking at the idea, doing research, seeing if there's anything else out there.” Said Goldstein.
After taking a quiz, users will get an animal avatar that fits their financial personality.
GVSU Senior James Johnson IV said, “Before we can teach you anything. Let's assess whether or not you overspend. You're overconfident with your spending. Do you know how to budget?”
Afterward, you will get information and tips that fit your financial type.
“I feel like it's an evolutionary tool. I feel like you should be able to, in a year, be able to assess yourself and say, Am I hitting my goals? Am I evaluating myself? Am I reflecting on my money decisions?” Said Johnson.
Although FinLit is still in development, Johnson says working on it has helped him manage his money better.
“I think I got a better understanding of credit. You know, I can invest a little bit more into my future knowing that, you know, if I get a strict budget, like, I think if I lay out my plan, it's a little bit easier to see in the future, so it's giving me the more confidence to make better money decisions.” Said Johnson.
The university says FinLit should be available – by the end of 2025.
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