This money management app that is designed specifically for college students to save more money by evaluating their spending habits. Pocket initiates weekly and monthly “pocket money” to help users control their spending wisely. By allowing users to categorize and rank their purchases on necessity and excitement, Pocket analyzes and gives specific suggestions on effective ways to save money. Pocket also helps users forecast their future financial status by visualizing their spending patterns.
Pocket reminds users to organize their daily purchases. By default, notification shows up at the end of the day, but users can set their preferred time. The input process allows users to categorize what their must-have purchases and rank the purchases that are not necessary such as entertainment, dining and snacks based on their level of excitement.
Analysis visualizes the users’ spendings in three different strategies and give suggestions accordingly for purchases that fall under 25% of excitement, purchases that go beyond 75% of excitement, and frequently visited stores.
Pocket displays the future trends based on users’ past spending patterns and reflects how the “pocket money” can help users achieve financial stability. Pocket helps predicting how a purchase will effect users’ account balance and gives suggestions. Users can also set a saving goal for future purchases.
To encourage users to achieve their saving goals, Pocket rewards them with points. Users can redeem their points for gift cards and coupons from stores that they usually visit.