Stop Me from Spending! Facebook Application Helps Users Save More Money

Context Optional’s latest app, Stop Me from Spending!, launched yesterday, is designed to help users gain a better understanding of the economy with tips while helping them set financial goals and avoid spending “temptations.”

The app was created by San Francisco-based Context Optional in collaboration with Youth Radio (Youth Media International) as part of a public media initiative backed by the Corporation for Public Broadcasting meant to educate people about the economy.

Stop Me from Spending! includes links to financial stories from Youth Radio — from information about investing to student loans to savings — and also a variety of other resources pointed to helping users understand the economy.

A user of the app has three different tools at their disposal: the Temptation Converter, the Goal Tracker and Tips on being financially savvy.

The Temptation Converter is an interesting tool because it transforms a desire to spend into a visual element, which is then posted to your wall, so that your Facebook friends can make comments, potentially helping you avoid unnecessary spending.

After typing in what you want, how much it costs, what category it falls under (entertainment, for example) and uploading a picture, the app allows you to post the result to your profile or the profiles of your Facebook friends.

Goal Tracker is another tool the app offers, visually assisting the user plan and attain financial goals. The user enters a financial goal, such as building up your savings, then they users lists the stops needed to achieve this goal, such as put money away each week or not eating at restaurants so often.

The resulting visual diagram allows the user to see their financial goals in a diagram format which evolves visually as you begin to complete steps towards your financial goals.

Finally, an entire section of Stop Me from Spending! is dedicated to educating the user on a variety of financial issues with radio stories from Youth Radio, financial games and various educational financial information.