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Nazri Nordin

Co-Founder at Pocketwo

04 Nov 2021

General Investing

Building a personal finance app

Hey guys, first of all happy Diwali to everyone who's celebrating!

I'm building a personal finance app that combines personal finance (budgeting/expenses) with investing. Any insights or feedback would be much appreciated!

This app aims to helps you do 3 things:

Budgeting: when you link your bank account/s to our app, you'll get a comprehensive overview of your financial health, as well as some really interesting statistics, such as how you compare to other users around your demographic

Saving: we're implementing round-ups to help you save. For example, if you buy a cup of coffee for $5.50, we will round it up to $6.00 and that difference of $0.50 will be saved (or invested) for you.

Investing: with those rounded-up savings, we will automatically put it into investment portfolios of your choice. We will be offering portfolios from local and international robo-advisors. We're also offering goal-based social investing where you can save/invest for certain group activities, such as vacations or even a BTO for couples.

Attached is a mockup of how the round ups will look like. Would appreciate any feedback, as well as things/features you'd like to see on a personal finance app. Thanks!

Discussion (2)

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Christopher Puan

04 Nov 2021

Photographer/ Corporate Trainer at Chrispy Media & Education

Somehow this idea reminds of Snack by NTUC income, not sure why. But the idea seems nice and beginner friendly.

Your round up is basically anything above the dollar? ie. even if it's $1.1, it gets rounded up to $2?

That's good for people who are really keen on saving and investing but may not be as good for people on a tight budget.

My two cents, please. :)

Good luck with the development!

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