Methods and apparatus for promoting financial behavioral change

Abstract

Some embodiments of the invention provide tools for promoting a user's financial well-being by encouraging positive financial behavior through timely feedback, counseling and instruction. For example, some embodiments of the invention may provide real-time (e.g., in response to a transaction being performed, or in response to the user indicating he/she is contemplating a transaction) useful analysis and advice designed to encourage the type of ongoing financial behavior that leads over time to financial well-being.

What is claimed is: 
     
         1 . A computer system for encouraging positive financial behavior by a user of a mobile device, the computer system comprising:
 at least one computer processor programmed to;
 receive a first electronic indication that the user of the mobile device is contemplating performance of a first transaction involving a first item and a first merchant; 
 in response to receiving the first electronic indication, send, to the mobile device, information which (1) indicates an effect of the first transaction on the user's finances, and (2) prompts the user to consider performing a second transaction instead of the first transaction, the second transaction involving at least one of a second item that is different than the first item and a second merchant that is different than the first merchant; 
 receive a second electronic indication that the user has performed the second transaction instead of the first transaction; and 
 in response to receiving the second electronic indication, send, to the mobile device, an indication of a reward which the user may redeem for at least one of goods, services, and a discount in a third transaction. 
   
     
     
         2 . The computer system of  claim 1 , wherein the at least one computer processor is programmed to, upon receiving the indication, analyze one or more characteristics of the first transaction to identify the information to send to the mobile device. 
     
     
         3 . The computer system of  claim 2 , wherein the analyzing comprises identifying a category to which the first transaction belongs. 
     
     
         4 . The computer system of  claim 2 , wherein the analyzing comprises identifying a merchant, date, time, location, amount, item and/or brand associated with the first transaction. 
     
     
         5 . The computer system of  claim 2 , wherein the analyzing comprises comparing one or more characteristics of the first transaction to one or more characteristics of at least one transaction completed prior to the first transaction. 
     
     
         6 . The computer system of  claim 5 , wherein the one or more characteristics comprises a transaction amount. 
     
     
         7 . The computer system of  claim 5 , wherein the at least one transaction completed prior to the first transaction was performed, planned or contemplated by the user. 
     
     
         8 . The computer system of  claim 5 , wherein the at least one transaction completed prior to the first transaction was performed, planned or contemplated by a member of a peer group to which the user belongs. 
     
     
         9 . The computer system of  claim 2 , wherein the analyzing comprises comparing the one or more characteristics of the first transaction to one or more characteristics of transactions performed by members of a social network to which the user of the mobile device belongs. 
     
     
         10 . The computer system of  claim 2 , wherein the analyzing comprises determining an effect of the first transaction on a monthly budget for the user. 
     
     
         11 . The computer system of  claim 10 , wherein determining an effect of the first transaction on the monthly budget for the user comprises comparing an amount associated with the first transaction to amounts associated with one or more transactions performed by the user in one or more previous months. 
     
     
         12 . The computer system of  claim 2 , wherein the analyzing comprises identifying a plurality of rules invoked by the first transaction, selecting a first rule from the plurality of rules, and causing information relating to the first rule to be delivered to the mobile device. 
     
     
         13 . The computer system of  claim 12 , wherein each of the plurality of rules have an assigned priority, and wherein the first rule is selected based at least in part on its assigned priority. 
     
     
         14 . The computer system of  claim 1 , wherein the at least one computer processor is programmed to send the information to the mobile device substantially contemporaneously with the first electronic indication being received. 
     
     
         15 . The computer system of  claim 1 , wherein the information sent to the mobile device comprises a promotional offer relating to the one or more second transactions. 
     
     
         16 . The computer system of  claim 1 , wherein the information sent to the mobile device comprises a recommendation to reduce spending, increase savings, fulfill financial obligations and/or satisfy financial objectives. 
     
     
         17 - 18 . (canceled) 
     
     
         19 . The computer system of  claim 1 , wherein the first transaction is of a particular type, and wherein the information sent to the mobile device comprises a suggestion to instead perform one or more second transactions of a different type. 
     
     
         20 . A computer system configured to provide feedback to a user of a mobile device about the user's financial behavior, the computer system comprising:
 at least one computer processor programmed to;
 identify, from among transactions performed by the user during an ongoing period, transactions of a particular type, each transaction of the particular type having an associated transaction amount; 
 identify at least one prior period comparable to the ongoing period; 
 identify, from among transactions performed by the user during the at least one prior period, transactions of the particular type, each transaction of the particular type having an associated transaction amount; 
 compare the transaction amounts for the identified transactions performed during the ongoing period to the transaction amounts for the identified transactions performed during each at least one prior period; 
 determine, as a result of the comparing, that the user is contemplating performing a transaction; and 
 in response to the determining, send to the mobile device a promotional offer relating to the contemplated transaction. 
   
     
     
         21 . The computer system of  claim 20 , wherein the at least one processor is programmed to compare a sum of the transaction amounts for the identified transactions performed during the ongoing period to a sum of the transaction amounts for the identified transactions performed during each at least one prior period, and to send to the mobile device a result of the comparing. 
     
     
         22 . The computer system of  claim 20 , wherein the at least one processor is programmed to compare an average of the transaction amounts for the identified transactions performed during the ongoing period to an average of the transaction amounts for the identified transactions performed during each at least one prior period, and to send to the mobile device a result of the comparing. 
     
     
         23 . The computer system of  claim 20 , wherein the identified transactions of the particular type include at least one of spending transactions and savings transactions. 
     
     
         24 . The computer system of  claim 23 , wherein the transactions of the particular type include spending transactions and savings transactions, and wherein the at least one processor is programmed to identify at least one first prior period comparable to the ongoing period for the spending transactions and at least one second prior period comparable to the ongoing period for the spending transactions, the at least one first prior period and the at least one second prior period being different. 
     
     
         25 . The computer system of  claim 20 , wherein the ongoing period has a length, and the at least one computer processor is programmed to identify at least one prior period of substantially the same length as the ongoing period. 
     
     
         26 . The computer system of  claim 20 , wherein the at least one computer processor is programmed to send to the mobile device information usable to render a graphical representation of the result of the comparing. 
     
     
         27 . The computer system of  claim 26 , wherein the at least one computer processor is programmed to send to the mobile device information usable to render a Cartesian coordinate system on which a result of the comparing is plotted. 
     
     
         28 . The computer system of  claim 27 , wherein the ongoing period and the at least one prior period are divisible into time units, and wherein at least one computer processor is programmed to send to the mobile device a representation of a sum of the transaction amounts for the identified transactions performed during the ongoing period and a sum of the transaction amounts for the identified transactions performed during each at least one prior period plotted on the Cartesian coordinate system by time unit. 
     
     
         29 . The computer system of  claim 20 , wherein the at least one computer processor is programmed to send to the mobile device an indication of a difference between the transaction amounts for the identified transactions performed during the ongoing period and the transaction amounts for the identified transactions performed during each at least one prior period. 
     
     
         30 . The computer system of  claim 29 , wherein the difference is between a sum of the transaction amounts for the identified transactions performed during the ongoing period and a sum of the transaction amounts for the identified transactions performed during each at least one prior period. 
     
     
         31 . The computer system of  claim 29 , wherein the difference is between an average of the transaction amounts for the identified transactions performed during the ongoing period and an average of the transaction amounts for the identified transactions performed during each at least one prior period. 
     
     
         32 - 33 . (canceled) 
     
     
         34 . A computer system configured to promote positive financial behavior by a user, the computer system comprising:
 at least one computer processor programmed to;
 cause an overall assessment of the user's finances to be displayed to the user, the overall assessment comprising a score representing the user's overall financial well-being; 
 cause information on a behavior which the user may exhibit to improve the overall assessment to be displayed to the user; and 
 in response to receiving an indication that the user has exhibited the behavior:
 modify the overall assessment, 
 cause the modified overall assessment to be displayed to the user, and 
 cause to be displayed to the user an indication of an award which the user may redeem for at least one of goods, services and discounts. 
 
   
     
     
         35 . The computer system of  claim 34 , wherein the behavior relates to at least one of spending within budgeted limits, reducing expenses, adding to an emergency fund, and saving consistently. 
     
     
         36 . The computer system of  claim 34 , wherein the overall assessment is based at least in part on an analysis of previous behavior by the user. 
     
     
         37 . (canceled) 
     
     
         38 . The computer system of  claim 34 , wherein the at least one computer processor is programmed to cause an indication to be displayed of a quantity by which the score will change in response to the user exhibiting the behavior. 
     
     
         39 . The computer system of  claim 38 , wherein the at least one computer processor is programmed to cause an indication to be displayed of a quantity by which the score will increase in response to the user exhibiting the behavior. 
     
     
         40 . The computer system of  claim 34 , wherein the at least one computer processor is programmed to cause information to be displayed on an award for which the user may qualify upon exhibiting the behavior, and to cause an indication to be displayed of whether he or she has qualified for the award. 
     
     
         41 . The computer system of  claim 40 , wherein the at least one computer processor is programmed to, in response to receiving an indication that the user has redeemed the award, cause to be displayed to the user a prompt to save an amount equal to a value associated with the award. 
     
     
         42 . The computer system of  claim 34 , wherein the at least one computer processor is programmed to cause the overall assessment of the user's finances, the information on behavior which the user may exhibit to improve the overall assessment, the modified overall assessment, and the indication of the award to be displayed to the user via a mobile device. 
     
     
         43 . The computer system of  claim 34 , wherein the at least one computer processor is programmed to generate the overall assessment of the user's finances, and wherein the overall assessment is positively influenced by the user's participation in a social network. 
     
     
         44 - 86 . (canceled)