The idea for YoorKids was born shortly after our first child. We were living far away from family, and when it came to birthdays, holidays, and milestones, our family & friends were kindly sending toys, toys, and more toys as a way to not only celebrate these events but also to feel connected to our child; to show they cared. As our young child opened gift after gift, she played with some, but the boxes they came in were always her favorite.
Then we thought, what if instead of so many toys, our community had a way to give a truly lasting and meaningful gift? With this, we wouldn’t be left with a mountain of toys, and our daughter’s financial future would grow.
A Solution for Parents, Kids, and Loved Ones
Sure, we had investment accounts set up for our daughter, but the process of contributing to them was a task for us, and there was no easy way to ask our friends and family to consider donating in lieu of toys.
Moreover, making a bank transfer feels like something other than a gift. We needed an app that would allow us to connect people with our daughter’s investment accounts, and the app would need to be user-friendly so the gift givers would actually send money.
Lastly, there needed to be a lasting memento, similar to a birthday card, that would celebrate the occasion and make the contribution feel like a gift for the kid and the gift giver.
And this is how YoorKids was started.
What is the YoorKids app?
Within the app, an adult is able to set up a profile for one or more children under 18 years of age. The adult then connects the profile to an existing account for the benefit of each child, ideally for their long-term savings.
Then, the parent invites the child’s community of family, friends, and others to download the app and easily send contributions paired with a digital coin with personalized messaging. The child gets the coin for now and the money for their future; it’s that easy!
Benefits of YoorKids
There are many benefits for everyone involved! Here are a few:
- The parents get help growing their child’s investment account(s)
- There is no fee for parents to set up their child’s profile
- Less clutter from too many toys
- The child’s community gets to give truly impactful gifts
- Contributions feel like a gift to the giver and child
- The child gets something now and something for their future
- Friends and family are freed from the burden of choosing gifts
- Children get to enjoy a memory bank filled with photos, videos, and digital media for many years
- Children are set up for financial freedom
- The child learns about investing
Conclusion
YoorKids is a new way to think about gift-giving for parents, children, and the surrounding community. Imagine if instead of filling our kids’ lives with a massive amount of toys, we put that money toward their financial future so they start adulthood with choices and just give them the toys they really “need” or want.
