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Launch HN: Yotta Savings (YC S20) – Behavioral psychology to help people save

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281–290 of 309 posts

Re: Launch HN: Yotta Savings (YC S20) – Behavioral psychology to help people save

#281

Earlier quoted context omitted.

There's some confusion we probably need to clear up on what our "rate" is. Our base rate if you win no prizes ever is 0.20%. Including the expected value of prizes it's above Marcus today.

Yeah I would change your home page to put your "rate" with some way to denote that the interest rate + EV is better than competitors, instead of putting just the base rate.

Good idea. Trying some changes to help with this.

Re: Launch HN: Yotta Savings (YC S20) – Behavioral psychology to help people save

#284
post #265

Earlier quoted context omitted.

While it's a good time to borrow, you still need accessible cash saved up for an emergency no matter what.

Hey Adam, I am Shawn. Are you guys open to bringing on affiliates? Would love to speak with you guys to promote this great app.

Open to chatting. Email me at adam@withyotta.com

Re: Launch HN: Yotta Savings (YC S20) – Behavioral psychology to help people save

#286
post #68

Earlier quoted context omitted.

I'm the same way, I know the lottery is a terrible bet but I still find myself buying a ticket every now and then. This was one of the main motivations for starting Yotta for me. Will definitely check out The Lottery in Babylon!

Saving USD is a terrible bet

Depends on goals and timeframe

Re: Launch HN: Yotta Savings (YC S20) – Behavioral psychology to help people save

#287
When I saw the headline I was hoping that this was going to be an evolution of the budgeting app.

I do budgeting using ledger cli and live it although it’s pretty manual and would love a decent tool to do it.

None of the paid ones really draw me but if there was something really good in this space I’d be interested.

Not sure if the solution but I imagine something that gives you virtual high fives for saving instead of spending etc.

Re: Launch HN: Yotta Savings (YC S20) – Behavioral psychology to help people save

#289

Do you have research that $.1 winnings motivate instead of just disappointing people?

It's not the 10 cent prize that's motivating to people. It's the chance to win big. And in this care, no risk of loss, other than opportunity cost.

Re: Launch HN: Yotta Savings (YC S20) – Behavioral psychology to help people save

#290

Give where interest rates are, young people should be borrowing more (but not student debt), not saving more.

While it's a good time to borrow, you still need accessible cash saved up for an emergency no matter what.

Yes, you can always borrow that emergency fund. It's pretty much how corporations view lines of credit. You just need to make sure you borrow before (i.e. now because of low interest rates) before the sh1t hits the fan. Because by then, it's too late and no one will lend to you.
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