Using Personal Metrics to Help Americans Reduce Their Debt
The personal debt crisis that many Americans are facing is becoming unmanageable and life-changing. First, people lose sight of their total debt picture. They have no idea what their true debt is because all the information is decentralized and often difficult to access. Second, people begin to believe that paying off their debt is impossible. This happens because they lose focus of the little steps they need to take, the simple monthly payments. Third, people are emotionally drained by their debt. There are no small wins along the road of getting out of debt, just the though of another bill showing up next month.
One company is trying to change this. ReadyForZero is a new service that aims to help people get out of debt by providing a transparent view of their debt, creating actionable steps, and tracking progress. User’s come to the secure website, enter the credit card information for the cards they want to pay off. Then, ReadyForZero creates a dashboard that provides personal data visualizations, metrics, and feedback. User’s can see a bar chart of how much they have paid off, and how much is left. They can see when the next payments are due as well as tips on lifestyle changes to manage their debt.
Think of ReadyForZero as the Mint.com of getting out of debt. One of the most important aspects of the ReadyForZero service is the simplicity of the concept but also the interface. The clean, intuitive, and friendly design makes a previously intimidating and daunting task of personal finance seem exciting because of the visualizations and progress shown.
ReadyForZero is just getting started. However, their team completely understands how to design an experience that is based on the concepts of Personal Metrics. Check it out at www.readyforzero.com