VIOLET KOH

Youth tend to lose track on how much they spend and are not satisfied if they purchase only one item. Some of them suffer from compulsive shopping addiction and spend without thinking twice. They make use of credit/debit cards too often and besides that, they spend a lot on online shopping as well. Youths only realise they had overspent, after receiving the bill from the bank. Most spend money to feel good and to prove their self-worth, they do not set monthly saving goals and tend to buy things on impulse.

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iRemind is an app that will send notifications to remind users, to help them keep track and to be aware of their spendings. It helps youths to set a good and healthy budget so that they will spend within their financial estimate. The app shows the amount and a pie graph on how much users have left to spend on within that month. Users are required to take a photo of the receipt and the app will highlight the name, date, place and price of the item. Users can then check back on things that they had purchased previously through this app. The iRemind will help record and categorise things that users have spent on. Graphs are provided for easier referencing and the app will send users a reminder, if they have overspent. The iRemind comes with a tracking function, so should the user visit a luxury area, it will send a reminder to remind the user not to spend too much. The app also informs users what items are worth saving on so that users won’t regret buying things that are not worth it. It also gives smart suggestions for users to decide where they want their savings to go, explaining why the item is worth spending on. This will help to cut out unnecessary expenses for users, helping them make smart choices to purchase items that are truly worth the money. Users can also record things that they wish to buy. The app generates a time frame, that informs users how far from their goals they are. A reminder is sent, when the due date of a goal is nearing. The app also provides free gifts to users that manages to save up to a certain amount, encouraging users to save more for the following month.