Dream
The savings lottery where you never lose
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Aziz Pabani

Dream - The savings lottery where you never lose

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Nerve
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Dream helps you automatically save money without ever thinking about it again, and earn free lottery like rewards for doing so.

The longer you save, the more entries you earn, the better your chances of winning.

Best of all: it's free, there's zero risk to play, and you can withdraw your savings at anytime - thus the lottery where you never lose.

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Leon Hitchens
The big question I have right now; Are the funds FDIC insured? Is there anything to help me trust the service?
Aziz Pabani
Maker
@leonhitchens Hey Leon. Dream doesn't hold any funds - all funds are held at BBVA bank and Veridian Credit Union, which are both federally chartered (FDIC and NCUA respectively)
Luke McGrath
Am I right in thinking there's no savings rate here? The "returns" are the holidays and otherwise the amount saved states the same?
Aziz Pabani
Maker
@lukejmcgrath You're right (though your chances of winning increase the more you save). Given the extremely low interest rates currently, it doesn't make much sense, but we might introduce a 'savings rate' in a higher IR environment.
Alex Williams
I've heard good things about this app even though I have yet to try it. One of my best friends says it's really good and it helped him save money for his last year's vacation. Well, who wouldn't like that? I love saving money because after I can afford other things like a vacation, a new phone or new clothes. One of the best ways to save money is to itemize your deductions and this way lower your taxable income. I found more about this on https://findigits.com/understanding-itemized-deductions-for-beginners and it really helped me save some coins. I'll give a chance to the app though because it was recommended. Let's see how it will work for me.
Abadesi
Thanks for hunting @pabaniaziz I'd love to hear more about Dream - how does it work? What's your grand vision?
Aziz Pabani
Maker
@abadesi Saving money is painful and that's why most people don't save enough. We want to make saving as effortless and rewarding as possible. When you sign up for Dream you link your bank account and precommit an amount. Every 14 days that amount gets automatically saved from your bank account, so you never have to worry about keeping up with a budget and hoping you'll have saved enough by the end of the month. Each time you save you're rewarded with entries into a draw for vacation prizes. The more you save, the more entries you earn. Long as you have entries, you keep participating in drawings every month. Win or lose, you end up saving money, and it's completely free for users. If you have any questions, happy to answer them :)
Antony Bearpark
Your second image, you've misspelled "amount"
Aziz Pabani
Maker
@antonybearpark Thanks for that :)
Aziz Pabani
Maker
Hi. I'm one of the makers of Dream. When we were building Dream we had 3 main things in mind: 1- Make saving passive and automatic so people don't have to worry about creating budgets and keeping up with them 2- Make sure it's completely free for users (too many apps charge users for saving their own money and this just struck us as unfair) 3- Make saving fun and have rewards that people actually look forward to (rather than the negligible interest rates most savings accounts offer) If you have any questions or comments please share them here, or you can email me directly at pabani@dreamlottery.co
Edward Shepard
Intriguing - "prize-linked savings accounts" are popular around the world and in some cases proven to increase savings rates, including with people who previously never had a savings account. Via Wikipedia, we don't have many / any in the US because of state laws which limit lottery activities to the state-sanctioned lottery.
Aziz Pabani
Maker
@edwardshepard You're right, they're quite popular around the world, especially in the UK and former British colonies. There's been a few small-scale 'Save to Win' schemes in the US and they've shown similar success here too.
Charley Ma
Congrats on the launch Aziz!
Aziz Pabani
Maker
@charleyma Thanks man. And for all your help :)
Trista Kempa
typo in your pic. "precharge an amount*"
Aziz Pabani
Maker
@tristajaye got it, thanks