Introduction
Over the years I’ve always thought to myself, how is wealth really build? How does one know they are building wealth? What can someone do to build more wealth?
Do they need their own degree in finances to build wealth? A lot of people say its easy. Spend less than you make! But okay I do that but then what’s next? What happen if I have debt? How do I pay off my debt?
I find myself almost everyday thinking, what can I do to ensure that I am truly building wealth. Why is finances such a scary topic.
Google Trend of Budget Searches
We all think about it, am I saving enough? Should I buy this ice cream? Can I actually afford this Honda Civic? Can I actually retire now? Money shouldn’t be hard. Budgeting shouldn’t be scary. You opening your bank account shouldn’t be scary. I’ve experience all these things and I’m constantly working to become more financial knowledgeable. But I just want to live, and we should all be able to spend 5 mins a day on our finances and know that we are doing alright. That’s why I wanted to work on this project.
Defining Goals
In all honestly, I want to build a mobile application and web application that will allow for any person to learn about their finances, teach them about wealth building strategies and also give them a guide to build their personal wealth. I know that this is subjective to each person but really what is your personal wealth. I want for everyone to know what they can do now to build your own version of financial freedom. Not everyone will be able to buy a lambo and a 12 bedroom house but maybe just maybe I can help everyone who uses the application to become financially free. Be able to have an investment portfolio or real estate portfolio big enough to cover all their basic needs.
Key Objectives:
Create a User Friendly Mobile App that will allow for people to see their finances and know if they are actually saving money or not.
Teach users about financial concepts related to their current financial situation. I.E if you are in $25,000 in student debt then you don’t need to be learning about housing market. You need to learn how paying an extra 300 per month can help you pay off your debt more quickly.
Financially plot a plan for each user the steps they need to take to build their financial freedom.
This is my current goal and plan. Following the next blog, I will breakdown some initial sketches and mock ups. I’ll also breakdown turning the concepts into code and getting started.