Thursday, November 28, 2013

Life simulation app WhyMoolah for Singapore’s youth to face big life decisions

Previously i blog about PlayMoolah, a company based out of Singapore that designs authentic experiences for children and young adults to learn about how to handle money. I also said that they will be launching something called WhyMoolah and i was looking forward to it. Now its here!

Credits: WhyMoolah

Today, they have launched a new app called WhyMoolah. This is an app for young adults who want to learn how to manage their finances. I have just tried this app and there is only one word to describe it: AMAZING!!

What is WhyMoolah?

In their media release:

Mobile app WhyMoolah helps Singapore youth face big life decisions through the power of play
PlayMoolah partners DBS Remix to launch innovative application simulating life on the Little Red Dot

DBS Remix, Singapore’s first bank by day, financial playground by night, has partnered PlayMoolah, a start-up company which leverages technology to design new and fun ways to learn about important financial management skills and make smarter money decisions, , to  educate and empower young working professionals in Singapore to make informed life decisions. This partnership has resulted in PlayMoolah’s latest mobile application, WhyMoolah, backed by DBS Remix.

“Learning about all the different elements that go into becoming financially independent is something everyone goes through, and WhyMoolah helps map the way there,” says Audrey Tan, PlayMoolah CEO and Co-founder. “We want to show everyone that it doesn't have to be overwhelming to make informed decisions, and engage in open and meaningful conversations about money with their families and peers.”

More about WhyMoolah?

WhyMoolah is an entertaining simulation that will take you through life in Singapore! Proudly backed by DBS Remix, and created by PlayMoolah, WhyMoolah will show you how each and every dollar truly adds up at the end of it all.

WhyMoolah is a simulation that enables young adults to experience, explore and discover wealth, health and career options. Set in Singapore, the app simulates a person’s professional life after graduation, with recognisable backdrops from the heartlands to the Central Business District in Raffles Place.

The app comes at a crucial time, as many young Singaporeans are not sufficiently aware of their financial situation. According to a survey by national financial education programme, MONEYSENSE, more than half of Singaporeans do not have enough insurance to protect their dependants if something were to happen to them, and there are also people who over-spend and over-borrow. WhyMoolah will introduce important financial management skills to young adults through key events in their life journeys and help them make smarter money decisions.

Credits: WhyMoolah

After trying out the app, here's my review: 

The graphics are good. The life simulation really matches closely to major life decisions you have to make in real life after you start working. Every detail is considered in it. Stuff like parent's allowance, mobile and internet bills, wedding cost, getting a credit card, buying a house etc. They have the POSB everyday card and other DBS cards inside the game. When you apply for the card, there will be guidance on how the interest on the credit card works. You can actually use the credit card in the game to pay for expenses. The card also comes with rebates similar to how the actual card works.

Credits: WhyMoolah

Your salary inside even has CPF contributions and when you buy a house, the loan package and housing prices are closely matched to what we have in the market now. The housing price is as expensive as what we're seeing now. Even in the game i can feel the stress of buying a house. This stimulation will greatly help young adults see the consequences of not saving enough and prepare them for life's major expenses ahead. You can get married and have children in the stimulation game. Hospitalisation cost, insurance, baby bonus, baby's necessities are all included. You'll feel like you're living a real Singapore life inside.

Try out the app today. It is available on Apple's app store and Google's Android play store. Download the app free today!

Credits: WhyMoolah

Here's the official trailer of the WhyMoolah App:


WhyMoolah (iOS) on the Apple App Store: 

WhyMoolah (Android) on the Google Play Store:

WhyMoolah Main Product Page: 

WhyMoolah social media pages:

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