Every fifth German between the ages of 14 and 29 is in debt. To counter this fate resiliently, future generations must learn to become financially independent as soon as possible. Finstep Solutions GmbH is targeting young people with the “Finstep” app and wants to promote financial independence through education. The educational app, which has just entered beta, is specifically designed to equip Generation Z kids ages 12-18 with critical financial knowledge to help them plan for their future. With the app young people can learn how to manage their money, save, invest and also acquire important financial concepts and terms.
“We are proud to mark an important milestone in the development of a new solution to a long-standing problem. Most young people do not receive the necessary knowledge during their school career to manage their well-informed finances as adults,” explains Christian Binder, founder and CEO of Finstep.
The development of the app is part of a growing movement dedicated to improving the financial literacy of future generations. The app aims to help young adults make more informed decisions about their money and increase their financial independence in the long run.
“We are convinced that early financial education is the key to a successful and self-determined future. With our app, we will help improve the financial sovereignty of young people around the world by starting early and thus achieving a notional compounding effect on the knowledge base,” adds Binder.
The app is intuitive to use and has an interactive design. A high degree of gamification ensures continued motivation to keep learning. Dynamic learning modules teach young people financial concepts and specialist knowledge step by step. This includes quizzes, animated videos and interactive elements that make the learning process more interesting and fun. “We believe that the app will be a valuable tool for young people at launch to strengthen their future financial situation and develop their individual potential,” concludes Christian Binder.