Save Mo is a product which indicates and makes the user aware of his spending patterns through the use of ambient lights . Users can set daily , weekly or monthly budgets for expenditure. If the users start crossing the budget they have set for themselves , a pre decided percentage of the money they spend above the budget is deducted and transferred to a one /two/three months or custom time frame lock in period savings account. The more the users spend beyond their budget the percentage of money deducted increases thus the money saved increases. The key idea is to encourage saving along with increase in spending.
The spending pattern is recorded via the SaveMo App and is translated into lights . The more you spend the more the Red Lights will light up on the circular lamp , Once the user crossed the budget , a green light will also light up signifying money is now being saved along with the rise in expenditure.
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