“The recent economic downturn. Several years ago when the economy started its decent, I was working as a consultant. I saw very intelligent people get hurt by the being in too much debt… self included. At the same time this was happening my boys 3 and 5 at the time were not sleeping through the night. Every night for weeks they were getting up and waking my wife and I up in the middle of the night. It was like having newborns again.
Many of the economists at the time were saying that we needed to go back to the days of our great grandparents and grandparents in terms of our fiscal values. I knew that could never happen, because of the culture shifts over the last 100 plus years (can explain further if you need me to). It was at that time that I decided I was going to make sure my kids were educated enough to not get caught in the traps so many of us have fallen victim to.
As I mentioned in a parallel moment my kids were not sleeping. I knew they wanted some trading cards, so I created a reward system. If they slept through the night they got a card. Instantly they slept and stayed in bed all night. After a few weeks they had accumulated a number of cards. They asked me one day if they could play video games. I saw their cards in the background and I replied, “Sure… It will cost 15 cards per hour.” They paid me and the Moola Monsters concept was born. My financial planner said that if I did not do something with the idea, he was going to steal it from me…lol. About that time I met my partner Andrea Greer and shared my idea with her. Within 2 weeks we went from concept to product design. Yes… Andrea is a genius. I filed a patent and went to manufacturing and then to market. In six months we had parents using Moola Monsters in 13 different states.
What has been amazing is the behavioral changes in children associated with participating in the system. I have had parents say that they wish they had Moola Monsters growing up.” Interview with Grant Magers, CEO
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