Savvy Coins: personal forced savings tracker mobile applications / Siti Nurshazzwani Mohd Shamri … [et al.]

"SavvyCoins" redefines personal finance by seamlessly integrating everyday spending with longterm investment goals. This innovative mobile application offers a novel approach to savings by capitalizing on microtransactions and leveraging the power of digital investment platforms. At its core, SavvyCoins operates on a simple yet powerful principle: rounding up everyday purchases to the nearest RM1 denomination and directing the spare change towards investments. When users make purchases using their linked bank accounts, the application automatically analyzes the transaction amounts. If the purchase amount is not already rounded up to the nearest RM1, SavvyCoins deducts the remaining cents and channels them into designated investment accounts. This approach fosters a culture of forced savings and investment, encouraging users to effortlessly accumulate wealth over time. By converting spare change into investments, SavvyCoins leverages even the smallest transactions to generate long-term financial growth. Users have the flexibility to customize their investment preferences, choosing from a range of options such as unit trust accounts, Islamic savings schemes like Tabung Haji, or private retirement schemes tailored to the Malaysian market.