Sow is a gifting platform that enables parents to help their kids save for things they actually want and need.
Scientific research has shown that experiences make people happier than things, and yet parents spend hundreds of dollars each year on unwanted gifts for their children. Hoping to shift this trend, Sow is a gifting platform that enables parents to help their kids save for things they actually want and need, and learn about saving and donating money in the process.
Parents can first set up a profile for themselves or on behalf of their child. They then set up goals, choosing what they want to save towards, as well as charitable causes they wish to support. Next, they share their profile with their friends and family, or anyone who wants to support them. These people can then make donations towards their goals for birthdays, holidays or any other reason. Children can save for big things, such as their college fund, or ‘wishes’ — things they would like, such as a bike or tickets to a football game. Users can access their profile anytime to see how they are doing, and can share their funding progress with pledgers.
We have already seen Banquer, the educational banking platform, which uses virtual currency to teach school children about interest rates, taxes and more. How else could technology be used to give kids a better understanding of money?