by Hans Eisenbeis
- Blippy pioneered the idea of tweeting all of its members’ credit card transactions. Now Piggymojo turns that idea on its head by allowing members to broadcast their thriftiness.
- Using text messages and Twitter, Piggymojo members can tell the world that they brownbagged lunch or drank office coffee for a small but cumulative savings.
- Members set up savings goals and the site monitors their progress and tallies total savings based on what they’ve tweeted about. Naturally, friends and family can follow the pilgrim’s progress and presumably exert positive peer pressure to help motivate savings.
WHAT THIS MEANS TO BUSINESS
- Twitter mashups keep coming fast and furious. The world of personal finance is ripe for these sorts of creative, social innovations.
- While spending can evoke shame, especially during a deep economic downturn, saving can engender pride. Tools and resources that help develop thrifty behavior are a good way to tap into the “new normal” sentiment.