For many Millennials, fiscal responsibility is a highfalutin concept better left to the economists than themselves, but the Pluto app gives Millennials a simple way to prepare for their financial futures. Rather than abstractly representing savings and investments in graphs and numbers, the app frames savings in terms of things that Millennials value, like vacations, big gifts, and more.
Even the language in the Pluto app shows its Millennial bent. The app organizes three different types of savings categories: Bucket List, Wish List, and Adulting. The buzzy terms translate to experiences, gifts, and debt or investing, respectively, but putting it in terms Millennials relate to makes it easier for them to conceptualize the payoff.
With the Pluto app, saving for the future is adapted to suit the future that young people imagine for themselves.
Youthful Finance Apps
The Pluto App Offers Saving Plans Geared Toward Millennial Values
Trend Themes
1. Millennial-friendly Finance Apps - There is a great opportunity to create finance apps aimed specifically for Millennials that take into consideration both their financial views and language.
2. Personalized Saving Plans - Personaized saving plans could be a game-changer for individuals looking to prepare for their financial futures.
3. Financial Education for Millennials - There is a need for financial education catered specifically to Millennials in order to increase their financial literacy.
Industry Implications
1. Fintech - FinTech companies could create innovative finance apps that break down saving and investing in a relatable way for Millennials.
2. Education - Educational institutions could create courses or programs designed to improve the financial literacy of Millennials.
3. Marketing - Marketing agencies could offer services to help companies target Millennials through financial platforms and products.