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Pluto Invest Project: Where To Invest
Spring 2023
Pluto is a free-to-use financial education tool, focused on empowering users to self-educate about investing, build their wealth and become money confident.
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Pluto Invest Project: Where To Invest
About the Client
Pluto is a free-to-use financial education tool, focused on empowering users to self-educate about investing, build their wealth and become money confident. In the app, users can learn about investing through a variety of concise, visual and engaging lessons, and then they can put their knowledge into practice by making trades in the safe, simulation investing environment (with no real money or risk involved).
If you are interested you can download it on the App Store here
Objectives
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Understand attitudes of people towards Crypto currencies.
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Understand barriers to Crypto currency investing.
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Identify educational barriers, and what demographics would be most open to learning more.
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What can be done to encourage more people to invest
Project Outcome
Pluto’s development has been supported and shaped by the research projects and work completed by York Community Consulting. Their findings have provided invaluable feedback, insights and direction to allow Pluto to create a financial tool to empower young people new to investing.
The first project was to establish areas where the barriers to start investing in crypto. From this, two concerns were a lack of knowledge and low confidence in crypto. The team also explored ways Pluto could better outreach to people potentially interested in crypto investing. They also found examples of effective partnerships for Pluto.
The main barrier discovered was education. Most people do not receive the skills/knowledge to invest from traditional education. This conclusion led to a second project with Pluto. In the second project, the team sent out a survey getting 50+ responses and conducted interviews. They did this alongside secondary research to assess attitudes towards crypto. From the people they surveyed, they found that people did not believe crypto to be a safe asset.
The team also found out most people believed and would value better education in finance as a means to open more people up to investing. The barriers they found were that people lacked confidence and felt that they lacked the capital to start. Finally, the team identified the best ways to provide education. This platform would provide a safe environment with no risk, and people could practise.
Our work enabled Pluto to identify what has stopped many people from improving their financial future. Hopefully, with our help, Pluto will be able to empower many new young people to invest and strengthen their financial future. They do this by providing informative, varied and interactive lessons to help build peoples confidence in investing.