Ideas and Validation January 13, 2020

Yet another budgeting app, or so I thought, what do you think?

Felipe @fillipvt

Hello IH!

It's more of a personal itch but I think there's room for more.

My itch is basically this: I like budgeting and I like buying online, but there is no tool (haven't found one either) that combines both.

How so? You may ask.

Imagine this, you save money to buy a new gaming laptop, you find a way to track this saving, be it a spreadsheet, your mind, a budgeting app, etc.

Then you notice you are close to your goal, and then the search begins, this search might even begin the moment you feel like you want a new laptop, too early even to have the full amount probably needed.

Then you start comparing your options, trying to figure out when you can probably buy it, looking at features, falling in love with your next laptop.

That's how it usually goes.

But here's the problem. Depending on how detailed you are this process can take way too long.

And the fix is a new kind of budgeting app. Something combined with e-commerce and reverse lookups/auctions.

It would look like this:

  1. You enter the name of the gaming laptop and the price. This creates a goal in the budget app.
  2. You start saving for the laptop at your own phase.
  3. The app notifies you once you are 75% near your goal about options found on the web (Amazon, Newegg, etc.)
  4. The app notifies you of deals potentially saving you money. It also shows you alternatives with similar specs.
  5. Then you make your choice and buy the laptop (be it through the budget app or directly with the seller). The goal is achieved and marked as completed in the app.

That's the gist of it.

What do you think?

  1. 1

    Cool! Sounds more like what most budgeting apps call "Goals", which are usually longer term saving targets. It sounds like that's the unique value of your idea, would you have to build an entire budgeting app around it, or can you just build this one piece?

    1. 1

      No need to build an entire budgeting app! Just the goals part plus the tracking of the product. Later on I plan to add more budgeting functionalities, if needed.

  2. 1

    Sounds awesome!

  3. 1

    Sounds like a good idea! Also easy to have a working MVP.