Frequently Asked Questions

  1. So, what’s PlayMoolah?

    2. PlayMoolah is a financial empowerment company that enables young people to afford the life of their dreams by developing a positive relationship to money. We design and deliver educational, digital, and community experiences that use the power of play to activate responsible decisions. The team is known for their innovative methods and award-winning products, which combine behavioural research with game mechanics to cultivate daily practices.


  2. What is the problem PlayMoolah is solving and why is this important?

    3. Young people the world over are facing an unprecedented level of financial uncertainty, many are not prepared to be self-sufficient in the future. These young people are questioning the sustainability of the financial system and want a more balanced way to control their money and resources  - us included! With this in mind, we realised that a new kind of financial capability is needed and have started a sustained conversation of what this looks like. Our vision is to champion a new paradigm that acknowledges community wealth, offers meaningful alternatives and builds resilience and responsibility in how money is utilised.


  3. How did the idea for PlayMoolah come about? Why did you decide to focus on financial capability?

    4. The seed for PlayMoolah was planted in 2008, during the worst financial crisis of our generation. Our founders', Audrey and Min's, world views were shaken when they saw what a drastic effect the economic collapse had on the everyday lives of people around the world. PlayMoolah was founded to address the gap in financial knowledge and positive behaviour change. 


    As youths, our founders realised that they too did not know the basics of money management. They thought that if such a solution had existed while they were children, they would be better equipped to handle the daily challenges of money management as young adults. This led to the first game the team built - the Moolahverse - an online product for children to learn basic money management through games.


    The company has grown since to address the root of the problem - that people's money relationships are still fraught with lack of knowledge, inaction, and fear.


  4. Tell us more about your founders.

    5. Both our founders, Audrey Tan and Min Lee, are Singaporeans who graduated from the National University of Singapore. They met in Silicon Valley through the NUS Overseas College programme, where they studied at Stanford University and worked at Qik, a startup that sold for $150M.


    Audrey Tan - Architect of Dreams, has a background in games and new media. She previously  founded two retail e-commerce businesses with a proven sales record. She has established her thought leadership through her honours thesis published on "Identifying Triggers within Persuasive Technology and Games for Saving and Money Management". Audrey is passionate about solutions to poverty, children, and social change.


    Min Lee - Princess of Possibility, has a background in finance and technology entrepreneurship. She ran her first design business at age 17, built teams and communities, and managed over a hundred volunteers in University. Min is passionate about re-inventing education, technology, and design. She is currently experimenting with truth, business, and social change. She brings an eclectic blend of experiences to drive PlayMoolah’s product strategy, innovation, and partnerships.


  5. Where is PlayMoolah going in the next 5 years?

    6. We hope to go global! We are already starting to see the seeds of PlayMoolah in different parts of the world. In the next few will years, we hope to serve the needs of more children, young adults and families around the world. We hope to see more partners coming on board and helping us reach out to more communities. We hope to enable greater access to the 8 forms of capital (material, living, financial, intellectual, social, cultural, spiritual & experiential) leading to a more meaningful life.


  6. What are some of the projects or initiatives that PlayMoolah has embarked on to help people build a positive relationship to money?

    7. The Moolahverse is an interactive game for children aged 6 and above. It demonstrates the cycle of money, from earning, spending, saving, investing and giving. It’s a self-directed learning tool for children to cultivate their own money management skills in a safe learning environment, helping them to understand the various aspects of money. Parents can monitor their progress and get involved through their own dashboard which is linked to the child’s account.


    WhyMoolah is Singapore’s first real-life simulation for young adults. An entertaining mobile app that helps you confront life decisions in an easy to understand way. It takes you through possible stages from graduation to retirement. And it isn’t all about money, there are other aspects as well such as how to spend their time, maintain career, etc. You can see how lifestyle decisions play out. It introduces you to the tools and technical know-how without jargon. WhyMoolah is free for download on Apple App Store and Google Play.


    Honesty Circle is a monthly gathering of the community which provides a safe space to discuss our relationships to money as a context for inner transformation. The circle opens with a sharing session by our invited thought leader and speaker, followed by an honest sharing by the audience on personal endeavours and beliefs. The Honesty Circle also gives you a chance to speak to others who may be in a similar situation. 


  7. Do you find that the younger generation is clueless to the importance of being financially savvy? How do you think this can be remedied?

    8. We find that the younger generation is actually quite interested in becoming financially savvy, in fact! The main problem is acting on the knowledge they have. They think they still have time and procrastinate. One way to remedy inaction is to talk about it. Although money is a taboo topic, open and honest dialogue, such as the ones held during Honesty Circle, help to de-mystify it. 


  8. In your opinion, what is the biggest challenge young people face when it comes to their finances?

    9. As young people ourselves, we know that money can be a hard topic to get started on, and we think we have a lot of time to do it later. But, the biggest challenge is in not realising that our main asset in our youth is time - so we procrastinate. At PlayMoolah, we are trying to make it easier for young people to take the first small steps on their journey to financial freedom.



Last updated 28 November 2014

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