According to a study done by the Proceedings of the National Academy of Sciences, chronic debt affects psychological functioning and economic decision-making (Ong, Theseira, & Ng 2019). Many credit card users are unable to control their spending, which may eventually lead to debt accumulation.

A streetpoll was conducted to gather insights and an interview with a staff from Credit Counselling Singapore to empathise better with those in a credit card debt. Our insights show that Singaporeans lack financial literacy which is why they tend to spend excessively and unnecessarily.

We used the current banking app as a spring board. The app can be improved in terms of providing the user with a clear representation of their expenses and understand how to manage their money better.

Below is the summarised version of the entire project. 

Click here to view the full research and data collected

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