YoorKids allows parents to invite others to contribute to their child’s savings through an easy-to-use app. By increasing contributions to a child’s investment and savings accounts, the account can grow wealth, setting the child up for success. But you might be wondering, Is a duckybank coin a real coin? Will you be able to touch it? Or it’s simply a virtual coin.
With the community around children able to easily contribute, parents are no longer the sole contributors to these accounts and saving for the child’s financial future! In the YoorKids app, the contributors create a digital YoorKids coin for the child to receive now and specify the money to be transferred into the child’s account. This article will discuss what a YoorKids coin is, whether it is real or not, and how it can help empower children’s futures!
If you are curious about YoorKids, probe through this article to get complete insights into this application.
The Origin of the YoorKids Concept
The founder of YoorKids set out to increase access to children’s financial accounts and increase contributions to them. He wanted to make investing financially in a child’s future a common gift. To achieve this, he believed it needed to feel like a gift, and if done right, with the child engaged there was an opportunity for child financial education.
A close friend gifted his daughter a silver coin bank resembling a duck, ie, a ducky bank. The daughter was not even 2, but she saved her change to go to the ice cream vending machine. It dawned on him that coin banks, once a popular vessel for collecting coins and introducing children to concepts like saving for the future, were the perfect solution to this problem.
So, the YoorKids concept was hatched! Each child would have a digital YoorKids, and gift-givers would create a digital YoorKids coin, including a coin front, contribution value, and digital media. The digital coin would be added to the child’s YoorKids coin collection, providing the child with a gift for now. Meanwhile, the financial contribution would be immediately deposited in the child’s financial account, the real gift for their future.
What is a YoorKids coin?
The YoorKids coin is not a real coin, it is a digital visualization of the financial contributions to the child’s financial account. Like a real coin, YoorKids coins have a front and a back. The front carries an exciting graphic relevant to the occasion for the gift or just something fun the kid will like.
The back is packed with media like photos, videos, and personalized messages. The sender lovingly creates these YoorKids coins and can provide a lasting snapshot of the time and place of the gift. The YoorKids coin holds all the information about the investment and stays with the child in their YoorKids forever – all while the money accrues interest. That coin will become cherished as a memory capsule from a happy time in years to come.
Creating the Coin
Once a parent has created a profile for their child and linked a financial account, it is ready to receive YoorKids coins from gift-givers like friends, family, and other community members. After the gift giver has created their profile in the app, they are ready to develop their unique coin. The giver enters their contribution amount and details about the occasion for which they send the coin. Now it’s time for the fun part: designing the coin!
Choosing a Coin Front
The giver is offered a selection of fun graphics for the coin front. These artistically designed fronts are offered in various categories: from new baby to sports achievements to holidays to academic awards. Some coins simply share encouraging words because growing a child’s future needs no event!
Creating a Photo & Video Capsule
After selecting the front of the coin, the giver can personalize the back or, as we call it, the capsule. It is called a capsule because the media encapsulates the celebrated memories. Givers can include photos of the child or videos of themselves sending well wishes.
Additionally, a touch screen feature enables the giver to write a handwritten note to the child. Just imagine in the future, the child being able to see the people who gifted their future, what those friends and family looked like back then, where they were living, and even what their handwriting looked like.
Once the coin’s front and back have been personalized, the user can proceed to send it. The child will receive the coin in the app and the money deposited into their financial account for their future.
The Coin Collection
As a child receives YoorKids coins, their coin collection grows. Kids can look at all their coins and the photos and videos they’ve received. The child may look at a specific person to see the coins, photos, videos, and even the value of the contributions that person has sent them throughout their lives.
Imagine being 17 and looking at all the pictures grandma and grandpa sent you, seeing the silly coin front they chose, or looking at their handwriting wishing you a happy 2nd birthday. It would be a special experience to look at videos from friends and family wishing you a happy 8th birthday or congratulating you on a little league win. A child’s YoorKids coin collection is a cherished and lasting snapshot of a particular time.
The YoorKids coin is a distinct feature of the app that adds a fun and gift-like aspect to contributing to a child’s financial account. Although it is not a traditional physical coin, it visually represents the financial contribution made by the giver. The personalized coin showcases memorable graphics, videos, and photos from the child’s life on both the front and back. These special digital coins are stored in the child’s YoorKids profile, serving as a lasting memento of their childhood.
