New on the market, the StorkCard app is the UK’s first family finance app to help new parents navigate the costly adventure of raising a family.
Its aim is simple: Do the financial planning for busy mums and dads so that they can focus on the joys of having kids, not the costs.
Here is all that you need to know about the revolutionary app!
How does it work?
Parents enter their budget and baby’s due date, and StorkCard’s artificial intelligence creates a personalised spending plan that predicts the costs for clothing, feeding, sleep, play and travel over the baby’s first 12 months. A great way to be ahead and anticipate any extra costs!
The app includes customisable features that will help you to take control of your family’s financial health, understand how and where your money will be spent, figure out ways to stretch your budget and anticipate and solve problems far in advance.
In addition to its app, StorkCard will soon release an AI-driven debit card account for all baby-related spending. The account will provide automatic updates to the spending plans, offer parents child-related shopping discounts and assess their eligibility for government financial assistance.
What is the idea behind StorkCard?
Andres Korin, co-founder of StorkCard mentioned “When my son was born, my wife and I were unprepared, and it took a big toll on our savings. When our daughter was born, we had the knowledge all second-time parents have, but we no longer had enough savings to comfortably manage the costs. For young families to thrive, parents need both information and access to resources. StorkCard is our answer.”
The idea was to “transform the way parents interact with the financial system, making it work for them, rather than the other way around.”
StorkCard the new financial help for parents?
Bruce Pannaman, co-founder of StorkCard, said: “StorkCard eases the pressure facing both new parents and experienced mums and dads. Childcare costs are increasing faster than wages and young families are struggling. Many deplete their savings, while others find they have to rely on expensive debt to make ends meet. This financial burden falls disproportionately on working mothers and their careers. StorkCard’s goal is to change this for the better. ”