PAY YOURSELF FIRST WITH REVENUE GENERATION

• US 20100324986A1
• Filed: 08/06/2010
• Published: 12/23/2010
• Est. Priority Date: 11/06/2000
• Status: Abandoned Application

• Current Assignee: Liberty Peak Ventures, LLC (Dominion Harbor Enterprises, LLC)
• Original Assignee: Consumer and Merchant Awareness Foundation
• Inventors: Thomas, Tracey R.
• Application Number:
  US12/852,272
• Publication Number:
  US 20100324986A1
• Time in Patent Office: Days
• US Class Current: 705/14.27
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/384 using social networks
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 30/0215 Including financial accounts
• CPC Class Codes: G06Q 30/0226 Incentive systems for frequent usage, e.g. frequent flyer miles programs or point systems
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

The system identifies a revenue producing opportunity for a user. The system obtains information related to the user'"'"'s income, income sources, user'"'"'s debts (e.g., bills) and user'"'"'s goals. The system identifies a revenue producing opportunity for the user by matching user information with information regarding the opportunities. The system further provides recommendations related to the prioritization of paying certain bills and the amount to pay for each bill based upon, for example, savings goals, a community recommendation, minimizing penalties/fees associated with user'"'"'s debts, minimum amounts due, due dates and available income. The system and/or the user may then determine a payment hierarchy which includes transferring funds to the user'"'"'s savings account prior to paying all or a portion of certain bills, wherein the transfer of funds may include different funds transfer systems and methods.

Claims

1. A method comprising:

receiving, at a merchant computer, a request from a consumer for a layaway transaction; and

sending, from the merchant computer to a user personal finance computer, layaway information for the layaway transaction,

wherein the user personal finance computer includes the layaway information and consumer debt information associated with the consumer,

wherein the user personal finance computer determines a payment hierarchy, based upon the consumer debt information and user income information,

wherein the payment hierarchy determines a layaway amount based upon the layaway information, and

wherein the layaway amount is transferred from a user account.

2. The method of claim 1, wherein the layaway amount is transferred prior to other debts associated with the consumer debt information being paid.

3. The method of claim 1, wherein the determining a payment hierarchy comprises determining a layaway amount and, in response to the layaway amount being transferred, determining the payment hierarchy based upon adjusting the user income information to account for the layaway amount.

4. The method of claim 1, wherein the layaway amount is transferred to at least one of a user savings account and a merchant associated with the merchant computer.

5. The method of claim 1, further comprising receiving, at the merchant computer, at least one of the layaway amount and a notice of the layaway amount being transferred.

6. The method of claim 1, further comprising, in response to the receiving, the merchant computer, determining a reward based upon the layaway amount.

7. The method of claim 1, wherein the reward comprises at least one of a discount and loyalty points.

8. The method of claim 1, wherein the personal finance computer analyzes the user debt information to determine a plurality of pending debt payments and determines a plurality of penalties by analyzing, for each of the plurality of pending debt payments, and wherein the payment hierarchy minimizes the plurality of penalties.

9. The method of claim 1, further comprising generating, by the merchant computer, the layaway information, wherein the layaway information comprises a layaway timeframe, a layaway transaction price and at least one of a layaway product and a layaway service.

12. The method of claim 1, wherein the personal finance computer analyzes, in response to savings amount being transferred, the user debt information to determine a plurality of pending debt payments and determines the plurality of penalties by analyzing, for each of the plurality of pending debt payments, a penalty.

13. The method of claim 1, wherein the receiving the request comprises receiving at least a portion of the user information.

14. The method of claim 13, wherein the social network computer performs a search of the social network based upon the portion of the user information, wherein the search identifies an entity comprising at least one of a social network member and a social network group.

15. The method of claim 14, further comprising receiving approval from the member to provide social network information to the personal finance computer.

16. The method of claim 14, wherein the social network information comprises member financial information associated with the member.

17. The method of claim 14, wherein the personal finance computer associates the social network information with the personalized financial advice network of the user.

18. The method of claim 1, further comprising updating a status associated with a social network account of the user, wherein the status is associated with at least one of the user goal information, the savings amount, the transfer of the savings amount and the personal finance rules.

19. The method of claim 1, further comprising sending, by the social network computer and to the personal finance computer, charity donation pledge information associated with the user, wherein the personal finance computer includes the charity donation pledge information in the user debt information.

10. A system, comprising:

a network interface communicating with a memory;

the memory communicating with a processor; and

the processor, when executing a computer program, is configured to;

receive a request from a consumer for a layaway transaction; and

send, to a user personal finance computer, layaway information for the layaway transaction,

wherein the personal finance computer includes the layaway information and consumer debt information associated with the consumer,

wherein the user personal finance computer, determines a payment hierarchy based upon the consumer debt information and user income information,

wherein the payment hierarchy determines a layaway amount based upon the layaway information, and

wherein the layaway amount is transferred from a user account.

11. A method comprising:

receiving, at a social network computer and from a personal finance computer, a request for social network information associated with a member, wherein the social network computer is associated with a social network; and

sending, from a social network, the social network information to a personal finance computer,

wherein the personal finance computer analyzes the social network information and user information to determine personal finance rules for a personalized financial advice network of a user, wherein the user information comprises at least one of user goal information, user income information and user debt information, and wherein the user information is associated with the user,

wherein the personal finance computer determines a savings amount based upon the personal finance rules and at least one of the user goal information and the user income information, wherein the savings amount is transferred to a user savings account, and

wherein the personal finance computer determines a payment hierarchy based upon the savings amount, the personal finance rules wherein the payment hierarchy minimizes a plurality of penalties associated with the user debt information.

20. A system, comprising:

a network interface communicating with a memory;

the memory communicating with a processor; and

the processor, when executing a computer program, is configured to;

receive, at a social network computer and from a personal finance computer, a request for social network information associated with a member, wherein the social network computer is associated with a social network; and

send, from a social network, the social network information to a personal finance computer,

wherein the personal finance computer analyzes the social network information and user information to determine personal finance rules for a personalized financial advice network of a user, wherein the user information comprises at least one of user goal information, user income information and user debt information, and wherein the user information is associated with the user,

wherein the personal finance computer determines a savings amount based upon the personal finance rules and at least one of the user goal information and the user income information, wherein the savings amount is transferred to a user savings account, and

wherein the personal finance computer determines a payment hierarchy based upon the savings amount, the personal finance rules wherein the payment hierarchy minimizes a plurality of penalties associated with the user debt information.