Why I am building a behavioral fintech app that connects emotions with savings
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Growing up in a middle-class Indian household, I've learnt that savings isn't just about money.
There's a strong emotional and cultural association with financial wellness.
Money in India is tied to far more than income and expenses.
guilt (“I should be saving more”)
fear (“What if something happens tomorrow?”)
comparison (“everyone my age is doing better”)
family pressure (“I can’t afford to fail”)
Statistics have shown that Indians struggle with daily savings habits as well.
Having seen this in my own family, I came up with a solution to connect emotions to savings, to reward the smallest wins of saving daily.
What do you all think of this?? Have you also noticed the same?? Or am I taking this differently?
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I think you can change the country and this post is still valid.
@danielhrdez You might be right on that. But as I'm starting with the Indian market, I thought I could start by doing research on Indian statistics.
Do you think an app will actually help people form a habit loop?
@kavyashree_s1 If your target is India, then having statistics of the market is really helpful.
Having an app to help save and earn more, would be really beneficial if targeted correctly.
Best of luck building and shipping it!
@danielhrdez Yes, I'm starting with the Indian market before planning to expand it globally.
Thank you for your input. Best of luck to you, too!!