Nov 06, 2020

NGPF Podcast: CJ McDonald on building a banking solution for kids


  • 0:00~0:58 Introduction
  • 0:58~1:52 CJ’s background
  • 1:52~6:25 Early money lessons
  • 6:25~9:12 Working in sales 
  • 9:12~11:23 Importance of persistence 
  • 11:23~15:49 Lessons learned as an early entrepreneur
  • 15:49~20:21 On starting Step
  • 20:21~20:46 A word from NGPF
  • 20:46~23:53 What Step offers
  • 23:53~25:20 How much young people spend on banking fees
  • 25:20~28:03 Credit building features
  • 28:03~28:59 How Step makes money
  • 28:59~33:05 On user acquisition 
  • 33:05~36:03 Starting to roll out accounts
  • 36:03~39:13 Money 101 on Step
  • 39:13~40:14 Conclusion 



  • “I fundamentally believe by having that foundation or platform where not only kids can see and look back at where they spent their money but for parents to have more visibility on how and where the money is going and being spent, we become a platform where parents can start talking to their kids about money.”

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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