The founder has spent 18 months researching consumer behaviour, studying the best scholars on psychology, finance and with face-to-face interactions with potential subscribers to better understand what is really happening with consumers today. Building wealth is hard for consumers and we think we have designed what consumers need and the way they want it, the foundation of a full desired outcome.
Our Proposed Solution:
Game Elements & Mechanics: A coordination game with 7 levels and rewards financially for each level achieved. The 7 game levels:
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Engages
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Entertains
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Educates
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Informs
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Delight our subscribers throughout their journey to plan and save.
Offering incentives and accountability when reaching planning and budgeting goals increases motivation to stick with a plan, be diligent with tracking and design realistic monthly, weekly and daily budgets.
Entertainment Elements: Entertainment is one of the best ways to educate, engage our subscriber’s planning and keep a very dry subject such as money and planning, interesting. Elements of the App such as:
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Music
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Videos
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Animation
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Entertaining Splash pages
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Enhanced notifications (who says notifications have to be boring texts?)
Play. Learn. and Grow.
The 12 Pillars / $ Stacks - The Entourage Effect
The Entourage Effect is the sum of the App's parts are greater than the whole. Our pillars or stacks are multiple step-by-step pure strategies that build upon each other to plan, track and budget. Mindful understanding of Net Income is key to savings. planning and accumulating wealth.
1. Budgeting & Spending
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Fixed Expenses
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Day-to-Day Spending & Tracking
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Projected spending if your current rate
continues
2. Borrowing & Debt
3. Savings Assistant
4. Insurance & Asset Protection
5. Pensions & Child Education
6. Investing & Planning
7. Taxes
8. Gambling in Casinos & Internet
9. Lotteries
10. Legal Infractions & Fines
11. Financial Fraud & Scams – Tactics, Education & Alerts
12. CongruiTy 2.0: Consumer Rights & Protection – “Protecting Each Other”
Our Educational & Knowledge based Proposed Solution:
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Educational based App Subscriber Guide
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Project Based Learning (PBL) for our Congruity Members & Subscribers
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Challenge question: Identify money management problems
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Critical thinking - Research
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Communication & Collaboration Teams
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Feedback
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Solutions
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Five Key Habits of Saving & Goal Setting
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Time Preference
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Self Supervision & Pre-Commitment
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Delayed Rewards
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Budgeting & Spending Plan
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Goal Setting - Partitioning (dividing into smaller parts)
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Consumer Behavioral Strategies
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Goal Contradiction & Awareness
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12 Pillars/Stacks Explained
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Self Determination Theory
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Stages in our Lives
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Financial Ladder
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Partitioning – Use Small Goals
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Saving Strategy
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Fraud & Scam Tactics by Bluff Masters
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Consumer Rights & Protection
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Author Reference List
All integrated together to create the ultimate planning and tracking tool to help plan for all financial scenarios with the goal of savings, home ownership, child’s education, asset protection, investments, future pension income, values and life style goals.
Our Scorecard & Self Audit Tools Solution:
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Congruity Real-Time Leverage Spending Ratio
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CongruiTy Index - Are you consumer focused or Investment focused?
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Real-Time Gross Debt Service & Total Debt Service Ratios - For renting or home purchase
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Mortgage Affordability & Maximum Monthly Payments
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Time Value of Money - The desert before the Vegetables. What is possible when you use time to your advantage.
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Own Your Home vs. Rent
In our research we realized all the necessary calculators to assist consumers to begin to customize a plan for the future are scattered throughout the Internet and not very customizable.