I just stumbled on this interesting pot idea hosted by Monzo in the IFTTT app that we could implement here on Jupiter too.
Here’s the gist of the pot-
“Monzo’s 1p savings challenge gradually increases the amount that you save each day. Meaning you will save 1p on the first of January, and up to £3.65 by the end of the year. In total, you will have saved over £600 in 2022…”
This when implemented in INR would be super rad. With rule based automation, this idea could be applied to a spare change pot or even a MF pot too in the future
PS: More Monzo automation- https://ifttt.com/monzo
More IFTTT fun here- Save more money in 2022 - IFTTT
It’s a nice idea and it also shows us the power of compounding. I just have 1 suggestion that if it is possible you can link this pot with a higher interest rate than the usual like say 4% and for that you can also create a fix lock in period of let’s say a year or something like that.
In short i just want to say that you can add this pot with a different lucrative offer to attract consumers towards it.
Yeah, to make it lucrative is in the hands of team Jupiter. They need to work on the interest part to strike a balance and excite the Indian audience. We’re less fancy pantsy and more inclined towards the return in money matters
The automation rules like these are what excites me. But, it’d require the IFTTT heavy lifting to go live
Much simpler one’s like the FIT rules in the Fi app is a great start too