Under cost re-framing and goal redirection, it might be neat to add something like "how much this amount of money would net you in 5/10 years at 7% growth" for example. (Ties into the down payment category, perhaps).
How is the app triggered? There is a graphic that makes it seem like the app can detect impulse buys:
iPhone 16 Pro Max $1,625 IMPULSE DETECTED
I think this is a good idea I'm just not convinced I would manually interrupt my impulse buys to pull up the app to stop my impulse buys. How does the app introduce friction to the purchase process?
Since I know I won’t build a financial app, I offer this idea to everyone.
You know those apps that round up your transactions on your debit card and it builds up savings over time? Do this same exact concept but have the money that builds up be used to pay down credit card debt. Even if it’s not much, any extra dollar makes a difference. To make the app really effective it needs to be able to pay the credit card directly.
I don't see why I would need an entire webapp to divide a price tag by my hourly wage.
> Cost Re-framing (Work Hours Psychology): It immediately translates the item's price into a more tangible metric: This $80 gadget costs you 4 hours of your work. This technique, known as "opportunity cost visualization," makes the trade-off much more real.
I already do this automatically myself but this only makes me more likely to buy stuff I want. Because many things are so crazy cheap that the time you need to work for them is really not a lot.
Also, the example on the website says 2.1 weeks of work for $217 sneakers. Is the person on the example earning $400 per month or is the calculation different (for example only considering expendable income)?