Meet Kid Entrepreneurs & Grant Winners I Got Bank

The sister team at I Got Bank has a mission: to help kids become financially literate and lead the financial literacy revolution.

We sat down with I Got Bank to learn more about their business and plans for the future.

Q&A With I Got Bank

Co-owners Sariel and Zion are making waves with their small business, armed with an unbridled entrepreneurial spirit, a commitment to education, and a desire to help break the cycles of poverty and create generational wealth.

Based in Atlanta, Georgia, it’s clear that Sariel and Zion are passionate about their mission. They attend industry events, lead workshops, and sell their financial literacy workbooks online. Their social media platforms are another part of their educational toolkit, where the sisters pop on to share tips and tricks that they have learned.

How Did You Come Up With The Idea To Start I Got Bank?

“One day, we were arguing and arguing about money,” said Zion. “And our mom said we needed to track our money in our piggy bank.” But the traditional piggy banks weren’t exactly sophisticated enough for the type of money-tracking the sisters needed and wanted, and as true entrepreneurs, the girls set out to create a better system.

Understanding that managing money is about knowing how much you are bringing in, knowing where you are spending it, and setting aside money to give and save, the sisters created kid-oriented envelope trackers that evolved into the bank kits they sell today.

The kits are aimed to kick-start getting kids to think about building wealth.

“We are leading the youth financial literacy revolution,” Zion said. “Our financial literacy products give kids a wealth-building mindset.”

Sariel added, “There are many problems in our community that our products can solve. Nearly one in five young adults in the United States between the ages of 18-24 have debt and have been sent to collections. And students graduate from high school with zero knowledge about personal finance. Zip. Nada. Also, most adults are living paycheck to paycheck.”

All of these problems are the foundation of the work Sariel and Zion are doing with I Got Bank.

Their bank kits are the first step, but the sisters don’t stop there: They also offer 30-minute educational courses. Designed with kids in mind, these courses tackle savings and investing with fun activities to keep kids focused and motivated.

Need something more motivating than an online course? I Got Bank also offers puzzles and flashcards (based on the popular game Roblox) to keep kids interested, and a monthly calendar with the sisters as financial superheroes to teach important financial tips.

Everything is available on their I Got Bank website to purchase and check out.

What’s The Best Part About Being A Small Business Owner?

“Making money while teaching other kids how to make money! We enjoy selling products knowing that we have revolutionized a new family,” the sisters said.

And when it comes to advice for other young small business owners out there, they say, “Never give up. We may have low sales during one event, but the next event could be a game changer.”

They added, “I would advise a new kidpreneur to do something that you are passionate about, and you think you will like in the future. Most importantly, do something that your customers can grow with you.”

What Are The Biggest Issues Running This Type Of Business?

“Keeping the right amount of inventory on hand and having enough time to make our bank kits at home.”

But another challenge they have faced is people not believing that they are running their business themselves.

Zion said, “[Parents/adults] usually underestimate our ability to complete transactions. They never believe it is our business and they go to ask our mom! Luckily for us, though, my mom always says it’s our business, and we use every opportunity to show them we are capable. We also provide excellent customer service.”

Another thing they have encountered is the cost of running the educational programs, said Sariel. “The course platform is expensive, and we’ve been donating and giving away free courses to teachers so their students can learn financial literacy and help our mission. But we are giving away a lot of our money.”

What Brings You Joy, & If We Are Celebrating Your Business A Year From Now, What Are We Celebrating?

“Making enough money to get paid ourselves” brings the sisters joy. One year from now, we hope to celebrate with them six figures in sales!

“We had a booth at Atlanta Station a few years ago, and it was the first time we made over $1,000 in sales!” Now, let’s help this business duo multiply that number.

Vendor Round-Up

And which of our vendors and partners are assisting I Got Bank on their small business journey?

What site does I Got Bank use for eCommerce? Wix and Hubspot for email marketing

What POS do you use at in-person events? Square (And they say this is the one business tool they can’t live without!)

Who is your credit card processor? Also Square Payments

Who do you use for business banking?  Wells Fargo

What do you use for accounting software? Quickbooks, currently, but moving to Xero