Spending to Save

Inspiration

At a large scale, we are interested in building a user application that will effectively incentive and encourage people to save more money. In general, consumers enjoy spending money. As a result, saving that same amount of money is not at the forefront of their decision making process. Rather than think in the moment of the potential future growth in value of $2.00 spent on a cup of coffee, the user struggles to conceptualize this impact and needlessly spends. Our team is working with Professor Rebecca Schaumberg from the OIDD department to build a mobile application focused on financial planning and effective saving techniques. The goal of this application is to implement features that help the user to recognize this amount of money they are considering in the moment, while also satisfying an inherent desire to spend money. We have considered a number of potential broad categories that could effectively promote this behavior and different ways that they may be integrated in the application. Categories of features that we intend to integrate into our application include a visualization page, features that can learn based on a given user’s previous behaviors, and a tool to perform an actual sense of spending that will redirect into some form of savings. We hope to test and build features that successfully aid users towards better spending and saving habits.

What it does

A mobile application that can promote and improve financial spending and saving practices of a user.

How I built it

iOS mobile application

Challenges I ran into

Accomplishments that I'm proud of

What I learned

What's next for Invest in Saving