Connecting dots for digital learning and teaching

Making Financial Literacy Mobile

Your smartphone is capable of serving more roles than ever: navigator, research tool, newspaper… even financial adviser?

The MyMoneyAppUp Challenge, launched by the U.S. Treasury Department in partnership with the D2D Fund and Center for Financial Services Innovation, is a contest intended to motivate American entrepreneurs, software developers, the public, and students to propose the best ideas and designs for next-generation mobile tools to help Americans control and shape their financial futures. The Challenge calls for mobile app ideas (IdeaBank) and designs (App Design), with cash prizes awarded to the best submissions. Competitors are encouraged to propose mobile apps that incorporate data to empower consumers, as part of Treasury’s initiative to promote Smart Disclosure. Click here for a 1-page summary of the Challenge.

MyMoneyAppUp competitors who want to take their winning ideas to the next step and develop prototypes may enter the FinCapDev Competition, a complementary competition sponsored exclusively by D2D and CFSI at the conclusion of the MyMoneyAppUp Challenge.

Winner gallery of 2012


financial literacy appPaying back student loans can be a complicated process: multiple servicers, multiple bills, multiple payment dates, and multiple payment plans. Staying on track of every detail is quite the feat for even the most attentive student loan borrowers.

Centz makes student loans easy and simple to manage. Centz is a mobile application that helps users make sense of their student loans and earn cents while doing it.

With Centz, you can:

• Link your student loans to view all of your student loan information in one place

• Create a payoff plan that works for your goals and budget

• Estimate how much you can reduce your repayment period and total interest paid by paying extra each month

• Learn about managing your student loans and finances via Centz’s resources tab, which provides access to high-quality articles

• Test your knowledge of student loan and personal finance management via quizzes

• Earn Centz (which can be redeemed for cash) for tracking, planning and completing quizzes about managing student loans

My Next Car!

My Next Car! is an innovative and fun mobile app would help people to save in advance for their next car, thereby avoiding car loan interest. It could help anyone who is planning to buy a new or used car, especially first-time car buyers. It’s also designed to encourage people who have paid-off their present car to continue making “car payments” into a savings account.

The user would enter a savings goal for the new car, and set a time frame for making the purchase. The app will calculate a monthly “payment” to reach the goal, as well as show the estimated overall savings based on earning interest rather than paying interest. The monthly payment figures would automatically adjust as the time frame and amount to save are modified to show different scenarios. The app would also include an input field for the trade-in value of the old car, and make that a part of the calculation too.


The MOOLAH App is a financial decision-making tool that assists low-income households in the United States. The app will allow the user to achieve their personalized financial goals by assessing their financial situation, creating a budget with connections to stabilizing public benefits, and recommending related social services and financial products. Essentially, the application will serve as a personal financial management software combined with a single-stop public benefits and community services referral portal. It also will open the door for future integration with developing mobile money services (i.e. freezing of mobile payments when a personal budget has been exceeded). Without the MOOLAH App providing a bridge to relevant financial information, services, and technologies, low-income households will be unable to make better economic decision and will fall further behind.

Crazy Money

Crazy Money is a twist on the drudgery of budgeting by making it fun and easy to control impulse spending. This is a tool that can be used to help parents teach their teens about spending limits or help spouses avoid arguments over spending habits. The app keeps users accountable, gives them the knowledge to make good decisions, and makes it all fun!

Know It ALL!

Instant gratification by making a purchase feels great, but racking up mounting debt sure doesn’t. This app will allow the consumer to instantly see the full cost of a purchase made by using a credit card, so that they can make a fully informed decision. As the cliche goes; you can pay now, or pay even more later.

What kind of app do you think would be helpful for managing money? Do you have new ideas?


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“Tell me and I will forget, show me and I may remember, involve me and I will understand.” -------- Chinese Wisdom "Games are the most elevated form of investigation." -------- Albert Einstein
"I'm calling for investments in educational technology that will help create digital tutors that are as effective as personal tutors, educational software as compelling as the best video game," President Barack Obama said while touring a tech-focused Boston school (year 2011).
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