If you’re a late Millennial or an early member of Generation Z, you’re probably keenly aware that you’ll be facing some serious financial challenges in the near future.
Whilst it’s partially true that you’re from a generation that considers money management a bit of an uncool topic, it’s still maddening hearing the same old-fashioned advice being offered by well-meaning (and usually retired) relatives completely out of touch with the realities of 21st-century living.
The Financial Landscape Has Changed
Back when the Baby Boomer generation was coming of age, it was relatively easy to get onto the property ladder, and once you were in a stable career, life was pretty simple.
These days, things are considerably different: Student loans can rack up serious debts early on in life, and the large deposits required by mortgage companies can make getting onto the property ladder challenging, to say the least.
And the worst part? Wages these days just don’t stretch very far, due to a combination of inflation and our increasingly complex lifestyles…
Millennials Face Higher Social Pressures
Despite what your parents might think, most surveys show that the Millennial generation is by and large pretty sensible, with money management being seen as a top priority in life.
Yet, despite having good intentions, Millennials often buckle to social pressure, ranking having fun and keeping up appearances above saving for the future.
When it comes to money management, Millennials regularly use their smartphones to check their bank balance, but many are either living on a month-to-month basis or stashing cash with family members to make it harder for them to access their savings.
The SPARQ of an Idea
SPARQ is a revolutionary personal finance platform aimed at helping Millennials solve their financial problems, using a data-driven approach to budgeting and a unique method of helping users to save their cash, by turning the entire banking process into a “gamified” solution.
How SPARQ Helps You Manage Your Money
Our SPARQ pre-paid card allows users to make free and instantaneous payments throughout the European Union, as well as ATM withdrawals, but SPARQ really comes into its own once you begin using the accompanying dashboard and app.
Challenging Yourself
Our upcoming dashboard allows users to analyze their expenses in detail, creating limits for various types of spending, such as restaurant meals or clothes. Once your limits are set, you can create reserve “vaults”, where you can stash your saved funds.
Vaults are given specific targets that you’re encouraged to reach within a certain timeframe, turning money management into a game-like experience, and reinforcing positive habits. SPARQ dashboard will be available to our users at the beginning of Q3 2021.
Unlocking Rewards and Upgrades
In addition to Vaults, SPARQ uses a unique algorithm to generate a special in-app currency, known as “Qpoints”.
Users earn Qpoints by completing quizzes and challenges and are able to exchange them for in-app purchases, special rewards, and upgrades to the SPARQ platform.
Take Back Control of Your Finances…
Managing your savings and planning for the future can be tough, especially if you’re using a traditional banking app, and it’s never been easier to lose track of digital payments. Why not challenge yourself with SPARQ, and bring your finances in 2021 to a whole new level?
Links to download:
Appstore — https://apps.apple.com/lv/app/sparq/id1487955577
Google Play — https://play.google.com/store/apps/details?id=eu.sparq.m
