A mental prosthesis that helps you keep to your financial goals and understand your actions.
SpendTrend is designed to allow its user to reflect on spending habits. Often we spend based on the buying capability we have at a given moment without considering the long-term outcomes of such spending. Most of us would not think twice about a $4 Starbucks latte, though getting one each day adds up to $80/month. Likewise, we often fail to think about how daily spending behavior affects savings in the long term. By making these effects visible at the moment of purchase, SpendTrend attempts to make users mindful of their behavior and reconnects them to their long-term goals. SpendTrend includes processing and storage that communicates with a special reader and stores the receipt data from a transaction. The reader also quick-charges the card, obviating the need for charging and batteries. This information is broken up into different spending bins (eg, grocery, coffee, gas, etc), and the trends on each bin is considered. If the trends fall outside of targeted norms, the LED in the corner lights in warmer colors over multiple transactions.