CONCRETE BUDGETING

• US 20100268629A1
• Filed: 04/20/2009
• Published: 10/21/2010
• Est. Priority Date: 04/20/2009
• Status: Abandoned Application

• Current Assignee: Dan Ariely
• Original Assignee: Bank of America Corp.
• Inventors: Schumacher, Hans D., Dooley, Kathleen L., Jones, Sean M., Ross, Erik S., Ariely, Dan, Garcia, Ray
• Application Number:
  US12/426,403
• Publication Number:
  US 20100268629A1
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

Apparatus and methods for supporting a budgeting process are provided. A method according to the invention may include operating an electronic information processing platform to receive an electronic confirmation of one of a purchase, a savings transaction, and an investment transaction. The method may further include performing a reevaluation of a future savings goal in response to the confirmation. The method may also include performing one of the following in response to the reevaluation: 1) presenting an alternative to the future savings goal and 2) auto-executing a process. The auto-executing may be based on pre-determined rules.

Claims

1. One or more computer-readable media storing computer-executable instructions which, when executed by a processor on a computer system, perform a method for determining the effect of a purchase on a budgeting goal, the method using an electronic information processing platform, the method comprising:

receiving information from a participant regarding the intent to purchase an item;

determining the effect of the purchase on the goal;

in response to an occurrence of the purchase, recalculating a goal strategy; and

in response to a registration of a failure to purchase, logging the purchase intent.

2. The media of claim 1 wherein, in the method, the registration of a failure to purchase comprises allowing a predetermined amount of time to elapse without receiving information corresponding to the execution of a purchase.

3. The media of claim 1 wherein, in the method, the registration of a failure to purchase comprises receiving a notification of a decision not to purchase.

4. The media of claim 1 wherein, in the method, the determining the effect of the purchase on the goal is based at least in part on a peer comparison.

5. The media of claim 1 wherein, in the method, the determining the effect of the purchase on the goal is based at least in part on a financing recommendation relating to the purchase.

6. The media of claim 1 wherein, in the method, the occurrence of the purchase transmits an electronic message via the electronic information processing platform to execute a finance selection.

7. The media of claim 1 wherein, in the method, the occurrence of the purchase transmits an electronic message via the electronic information processing platform to calculate the effect of the purchase on a rewards decision.

8. The media of claim 1 wherein, in the method, the occurrence of the purchase transmits an electronic message via the electronic information processing platform to calculate the effect of the purchase on a scheduled event.

9. The media of claim 1 wherein, in the method, the occurrence of the purchase transmits an electronic message via the electronic information processing platform to calculate the effect of the purchase on a future notification.

10. A method for operating an electronic information processing platform, the method comprising:

receiving an electronic confirmation of one of a purchase, a savings transaction, and an investment transaction;

performing a reevaluation of a future savings goal in response to the confirmation;

and performing one of the following in response to the reevaluation;

presenting an alternative to the future savings goal and auto-executing a process, said auto-executing being based on pre-determined rules.

11. The method of claim 10, the performing a reevaluation comprising performing the reevaluation based at least in part on a peer comparison of the user to a relevant peer group.

12. The method of claim 10, the performing a reevaluation comprising reevaluating based at least in part on financing recommendations.

13. The method of claim 10, the performing a reevaluation comprising reevaluating based at least in part on a rewards determination.

14. The method of claim 10, the confirmation comprising an event trigger.

15. The method of claim 14, the event trigger initiating a notification process.

16. The method of claim 10, the confirmation initiating a notification process.

17. The method of claim 14, the event trigger initiating an evaluation period.

18. The method of claim 10, the confirmation initiating an evaluation period.