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8 in 10 young Canadians aren’t confident in their financial knowledge.
Only 3 in 10 high-schoolers are actively saving money for their education, despite the fact that university tuition rates have been steadily increasing.
We surveyed nearly 300 students from across the Greater Toronto Area (GTA) and found that 57% of them didn’t know how much money they spent in a month. It’s time that we change this.
We created Müla, a not for profit social enterprise.
Müla is dedicated to helping high school students understand the 3Fs: financial planning, financial literacy, and financial responsibility, all in an entertaining and engaging way.
The Müla mobile app is the first step to achieving this goal. The app features an easy-to-use budgeting tool that allows students to save up for both small purchases like birthday gifts to larger sums of money such as tickets to attend conferences.
The app contains tips on how to save money and provides free learning materials that cover the basics of financial literacy.
Students first create an account and select their grade. Based on their selections, they receive specifically targeted tips that best suit their age group’s needs.
The app’s built-in calendar function allows users to forecast future expenses and get a snapshot of what they spend their money on each month.
Müla recommends goals for users to set for themselves and when these goals are met, new lessons and trophies are unlocked!
Müla is designed for middle class high school students between the ages of 14 and 18. It is currently optimized for users within the GTA.
We believe Müla has potential because it addresses a gap in knowledge found in our generation. 69% of high school students think it is important that schools teach them more about personal finance and Müla will accomplish just this.
Müla eliminates the clutter of other traditional budgeting apps and its efforts are specifically centred around high school students. So, what are you waiting for?
Müla: control your future.