If you find yourself trying to save on impulse, you’ll have a tough time. Who carries a piggy bank around with them? We’ve been waiting for more 21st century products that help people save by taking advantage of their impulse moments. Retail stores are set up to encourage impulse shopping. How about a few opportunities for impulse saving?
Along comes the New Zealand bank Westpac with an iPhone app that lets bank customers save money any time they want to simply by pressing a big red button on their iPhone. Customers can set up the app to save money in increments up to $50. An interactive explanation of the product is here. Here’s hoping more banks develop similar savings splurge apps.
Hat tip: James Verdigris.