People have goals, they have dreams, and they want to save for the future, but they have trouble doing that.
We help them meet their goals by turning the idea of impulse purchases upside down: impulse savings.
The user picks what's important to them (their goal): save for a trip, a major purchase, or retirement
The user then picks what is not important to them (what doesn't add value to their life) We can help by looking at their transaction history and we offering suggestions on expenses to try cutting (coffees, drinks, shopping) and how much they might save.
We also let the user customize how much prompting they want to help save (an "aggressiveness level").
Then the user goes about their life and the application detects savings opportunities based on what they think they can do without: ie. the user wants to spend less on coffee and phone GPS suggests they are in a coffee shop.
Based on the users desired level of aggressiveness, we offer varying degrees of prompts offering them to move an equivalent amount into savings instead, and with the ability of extended APIs will facilitate that transaction at the point of avoided purchase (transfer cost of one coffee from checking to savings).
The application can run entirely in the background, but as the users levels of savings grow they might be interested in more sophisticated financial information, and we provide graphs of how much they have saved and how much that could have grown to if invested in a diversified portfolio of stocks and bonds. The user thus sees the impact of their real spending decisions add up over time, and the potential growth of that with real market returns over that time.
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