After the process of generating ideas, it was now time for the selection of ideas.
We did this by giving each of the ideas points. All group members gave each of the ideas points from 1-5, and then we sorted them based on which idea had the most/least points.
After this, we were left with three ideas that we wanted to explore further.
The first idea we came up with was a service to provide the basics like food and clothes”. This could be something similar to “Adams Matkasse” where students could buy a start-up package with food and clothes, and maybe other basic items.
The second idea was an app for showing students on what and where they spend their money. The idea behind this is to make students more aware of their spendings, and maybe help changing bad habits.
The third idea in our top three was an app for showing students how much they could’ve saved if they followed a set budget.
Later we decided that we wanted to remove the third idea, and switch it out with something more creative and fun. We came up with the idea of a student bank card, which is connected to an app. In the app they can set a limit for how many times they can use the card in certain stores. For instance, they can only use the card in Rema 1000 four times a month, which would force them to plan and maybe buy food for the whole week. They could also set a limit for take-out shops, or clothing stores for limiting their own spending, which again will force them to remove bad habits. We could also see this card having different possibilities, such as micro save where a small set amount is transferred to a savings account each time you use the card.
We then sat down together, and talked about the pros and cons of each of the ideas, and which of the ideas we wanted to work further with.
We then chose the Smart Card idea because we feel that it’s more helpful for the students, and it´s the idea that actually solves the problem in our problem definition. We can see from the data we have previously gathered, that students make a lot of unnecessary buys and maybe we can help them by “forcing” them to limit their spendings through the Smart Card app. It might be easier to limit your spendings and managing your budget, if you have some actual limits you have to pay attention to.
When you can see the numbers on a screen, and it becomes more tangible, it’s easier to acknowledge.
We think that the Smart Card idea can help the students with changing their behaviours and getting better control of their budgets.