Challenge 3: Simplify

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The target for simplify is for smart phone owning lower to middle income earners looking to modify their habits (subscriptions, spirits, coffee/tea, smoking, etc.) It’s specifically for those looking to gain more discipline in their spending and contribute it toward a savings account. This app can track an individual’s location after learning about what the user likes to do or his/her patterns. When you frequent a bar for spirits or Starbucks, etc., it’ll ask you based on the goal amount, if you’d like to forgo spending and save it instead. If you only go once per month, the app will not ask unless you desire a high savings goal. 

The goal I have in mind for simplify is for the saved capitol to be used for mutual funds, stock options or other ways that can further grow money for a user group that may not be aware. Included in the savvy smart phone group are African Americans. According to the Pew Research Center, 70% of black Americans use smart phones. African Americans are 35% less likely to invest in stocks when compared with whites who have similar means. I want this application to be a way for people who are tech savvy to learn how to save and then potentially appropriate these funds toward growing their money through investing. 

Sources:

 http://www.pewinternet.org/fact-sheet/mobile/

http://abcnews.go.com/Business/story?id=88110&page=1

https://www.arielinvestments.com/images/stories/landing_pages/Black_Investor/ariel-investments-black-investor-survey-2015.pdf

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