Spending is a more natural behaviour for most young people, and it is difficult for them to save money. Sqrrl, a DIY investment app is helping young Indians from urban and semi-urban areas save, by taking the concept of 'micro saving' to a whole new level with it's revamped Sqrrl Away 2.0 feature.
A feature that automates saving, every time someone spends, Sqrrl has taken on the challenge of making savings truly micro by automating and simplifying the process of investing in mutual funds for young Indians.
Sqrrl allows its users set up a habit of rounding up every spend/transaction to the next Rs.100 or Rs.500.
The platform tracks every transaction that the user is making through NetBanking/Debit Card/Credit Card/Wallet and automatically creates a transaction either on daily or weekly basis as defined by the user in the underlying Liquid Fund scheme.
This enables users to continue spending the way they normally do, while Sqrrl helps them save their money effortlessly.
"The genesis for this feature came from our interaction with our customers itself. We found that it is hard for people to save money in a disciplined way, as the entire ecosystem is conspiring to help them consume/spend. We found that savings and spending's are divorced. The user who spends does not save and one who needs to save needs to curtail spending. We took that as a challenge to see how can we marry both. How can we create every spend into an opportunity to save. The objective of this feature is to help millennials build a healthy habit of saving small, aspiring big," said founder and CEO, Sqrrl Fintech, Samant Sikka.
The round-up Sqrrl Away feature is now live on the Android app.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)