Inspiration
Everybody struggles with their personal finances. Financial inequality in the workplace is particularly prevalent among young females. On average, women make 88 cents per every dollar a male makes in Ontario. This is why it is important to encourage women to become more cautious of spending habits. Even though budgeting apps such as Honeydue or Mint exist, they depend heavily on self-motivation from users.
What it does
Our app is a budgeting tool that targets young females with useful incentives to boost self-motivation for their financial well-being. The app features simple scale graphics visualizing the financial balancing act of the user. By balancing the scale and achieving their monthly financial goals, users will be provided with various rewards, such as discount coupons or small cash vouchers based on their interests. Users are free to set their goals on their own terms and follow through with them. The app re-enforces good financial behaviour by providing gamified experiences with small incentives.
The app will be provided to users free of charge. As with any free service, the anonymized user data will be shared with marketing and retail partners for analytics. Discount offers and other incentives could lead to better brand awareness and spending from our users for participating partners. The customized reward is an opportunity for targeted advertising
Persona
Twenty-year-old Ellie Smith works two jobs to make ends meet. The rising costs of living make it difficult for her to maintain her budget. She heard about this new app called Re:skale that provides personalized rewards for just achieving the budget goals. She signed up after answering a few questions and linking her financial accounts to the app. The app provided simple balancing scale animation for immediate visual feedback of her financial well-being. The app frequently provided words of encouragement and useful tips to maximize the chance of her success. She especially loves how she could set the goals and follow through on her own terms. The personalized reward was sweet, and she managed to save on a number of essentials such as groceries. She is now on 3 months streak with a chance to get better rewards.
How we built it
We used : React, NodeJs, Firebase, HTML & Figma
Challenges we ran into
We had a number of ideas but struggled to define the scope and topic for the project.
- Different design philosophies made it difficult to maintain consistent and cohesive design.
- Sharing resources was another difficulty due to the digital nature of this hackathon
- On the developing side, there were technologies that were unfamiliar to over half of the team, such as Firebase and React Hooks. It took a lot of time in order to understand the documentation and implement it into our app.
- Additionally, resolving merge conflicts proved to be more difficult. The time constraint was also a challenge. ## Accomplishments that we're proud of
- The use of harder languages including firebase and react hooks
- On the design side it was great to create a complete prototype of the vision of the app.
- Being some members first hackathon, the time constraint was a stressor but with the support of the team they were able to feel more comfortable with the lack of time ## What we learned
- we learned how to meet each other’s needs in a virtual space
- The designers learned how to merge design philosophies
- How to manage time and work with others who are on different schedules
What's next for Re:skale
Re:skale can be rescaled to include people of all gender and ages.
- More close integration with other financial institutions and credit card providers for better automation and prediction
- Physical receipt scanner feature for non-debt and credit payments
Try our product
This is the link to a prototype app https://www.figma.com/proto/nTb2IgOcW2EdewIdSp8Sa4/hack-the-6ix-team-library?page-id=312%3A3&node-id=375%3A1838&viewport=241%2C48%2C0.39&scaling=min-zoom&starting-point-node-id=375%3A1838&show-proto-sidebar=1 This is a link for a prototype website https://www.figma.com/proto/nTb2IgOcW2EdewIdSp8Sa4/hack-the-6ix-team-library?page-id=0%3A1&node-id=360%3A1855&viewport=241%2C48%2C0.18&scaling=min-zoom&starting-point-node-id=360%3A1855&show-proto-sidebar=1
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