Capstone - INFM498 - Dee Hill - Social Impact
The i-Save App
In 2017, research showed that Americans were not saving enough money for retirement if they were saving at all. We are living longer lives and spending more years in retirement but are not preparing for it properly. In the short-term, emergencies are particularly problematic. Only 54% of Americans could come up with $400 in an emergency without borrowing or selling possessions. There are plenty of applications and software available to help people focus on money, but little research is done to show how well the products affect people's spending and savings habits. This application will be used as a tool to determine if its use will actually cause people to save more money than they would without it.
Money problems stem not only from a lack of financial education, but also from the lack of the proper financial tools. The i-Save application can help those who don't need the full functionality of bulky home accounting software and other crowded interface applications. Armed with this tool, which encourages its users to be more mindful money savers and cognizant budgeters, people will become financially better prepared for emergencies, expenses, and their furture.