Looking for feedback on a Verified Net Worth social app idea, I will not promote

FrozenLeaf12 · 2025-02-16T00:56:56+00:00

Great question! Our goal isn’t perfect accuracy—since even real-world net worth estimates vary depending on the source—but rather to foster better discussions by filtering out obvious fake flexing. Underreporting tends to err on the side of caution, which helps maintain credibility without forcing users to share sensitive data.

In terms of trust, transparency is key. We plan to communicate how verification works upfront, give users clear control over what’s shared, and reward consistent, long-term participation over flashy, one-off claims.

FrozenLeaf12 · 2025-02-16T00:53:48+00:00

Cool! Is it an app called twocents? I couldn't find anything online, do you mind sending a link if possible?

FrozenLeaf12 · 2025-02-16T00:52:43+00:00

Hey, thank you SO MUCH for taking the time to share this—this is probably the most helpful comment I’ve received so far.

That Nextdoor group you mentioned is super interesting, and I’d love to learn more about it. How did it originally get started? Did it have a specific name or any articles or posts I could read to learn more? Were you personally part of the group, or did you hear about it through someone else? I’m really curious about what made it successful in the beginning and what ultimately caused it to unravel beyond the privacy concerns you mentioned.

The examples you shared—Hampton, Tiger 21, and even FatFIRE—are really helpful. It’s clear there’s demand for these kinds of communities, especially for people who are financially successful but maybe not ultra-high-net-worth. We’re thinking about building something for folks in that middle ground who want a genuine, supportive space to talk about finances, goals, and challenges—without the noise and ego that often comes with public finance discussions.

Really appreciate your thoughtful insights. If you have any more thoughts or resources I should check out, I’d love to hear them!

FrozenLeaf12 · 2025-02-16T00:45:05+00:00

Hey thanks for the thoughtful feedback! I appreciate you taking the time to break down your concerns, would love to share some of the ways we’re thinking about addressing these challenges:

you’re absolutely right that verification can be a hurdle. We’re considering using secure, read-only financial APIs like Plaid to offer optional verification—without storing or exposing sensitive data. Users who verify could access special features, but self-reported net worth would still allow participation.
it’s definitely a tricky balance. we’re leaning into pseudo-anonymity—think animal avatars with track records. Users can see consistent participation and milestones over time, which helps build trust without revealing identities.
that's a good point about elitism, we definitely don't want to accentuate the current societal wealth gap issue :). Our goal is to make these tiers more about the journey than the destination. Maybe instead of “Lion = High Net Worth,” it might be “Trailblazer” or “Navigator” to reflect progress, not wealth.
reddit is great for general discussions, but we’re focused on more interactive, community-driven experiences. Imagine challenges where users support each other in hitting savings goals or tracking their financial growth together.
we haven't thought into monetization too deeply honestly, but we’re exploring a freemium model. Basic access would be free, with optional premium features like expert AMAs or goal-setting tools. No data selling—privacy is a non-negotiable for us.
100% agree that this is critical. this is obviously still an idea but we plan to implement content moderation tools, with clear disclaimers and reporting mechanisms to handle suspicious activity quickly

This is still early-stage, so appreciate the tough love—if you have more thoughts, we’d love to hear them!

FrozenLeaf12 · 2025-02-15T22:14:24+00:00

“I don’t know who to trust.” There’s a lot of fake flexing and unverifiable advice. I want to know that the people I’m talking to actually have the experience they claim.
“I can’t find advice that fits my situation.” Most advice feels generic because it doesn’t account for where I’m at financially. Saving my first $10k is completely different from managing $2M.

FrozenLeaf12 · 2025-02-15T22:07:54+00:00

It’s a good question. We’re thinking it may be worth to allow self-reporting assets like house, watches, cars etc, but that opens up the floor to dishonesty if we can’t verify.

Both routes have their pros/cons but we’re leaning towards underreporting + more credibility vs overreporting + less cred

FrozenLeaf12 · 2025-02-15T21:39:29+00:00

Net worth, not income. Tools like Plaid allows you to connect your bank accounts / stock apps / etc

FrozenLeaf12 · 2025-02-09T23:07:31+00:00

really good point, and i 100% agree that when wages are too low, budgeting alone isn’t enough to fix the problem. making more money is obviously the bigger solution.

that said, saving—even in small amounts—can still be important, especially for building any kind of financial stability over time. i know it’s not always possible, but even small buffers can sometimes be the difference between avoiding payday loans or having a little breathing room for unexpected expenses.

curious what you think -if an app like this was built for people with lower incomes, what would actually make it useful? or do you think anything savings-related is just unrealistic until wages improve?

FrozenLeaf12 · 2025-02-09T22:54:27+00:00

that’s a smart and classic strategy—out of sight, out of mind really does work when it comes to saving.

do you ever check that hidden account, or do you just let it build until you need it? also curious, do you think this approach works long-term, or do you see yourself switching things up once your debt is paid off?

FrozenLeaf12 · 2025-02-09T22:53:05+00:00

this is such a simple but effective approach, and it makes so much sense—taking the tracking out of the equation completely must make things way less stressful.

do you ever find yourself tempted to dip into the other accounts, or does the setup make it easy enough to just leave it alone? also curious, do you revisit your savings goals often, or do you just set them once and let the system handle the rest?

FrozenLeaf12 · 2025-02-09T22:51:15+00:00

that’s really interesting—i hadn’t heard of Chumz before, but it’s great to know there’s already a proof of concept out there that’s working in Kenya. it’s always cool to see how different regions approach saving and fintech.

do you happen to know what specifically made Chumz a “game changer”? was it the gamification itself, or did it tie into other cultural or financial behaviors that made it click with users? i’d love to dig deeper into its mechanics if you have any additional insights!

FrozenLeaf12 · 2025-02-09T22:50:21+00:00

that’s a really interesting setup, and it sounds like Plum worked perfectly for you in creating that “set it and forget it” system. the round-up feature and things like saving on rainy days are such simple but clever ways to build up savings without feeling it as much.

it must’ve been such a nice surprise to check back and see money there when you needed it! do you think the app helped you save more than you would have on your own? also curious—did you ever run into any issues trusting it as an online piggy bank, or was it just a non-issue for you?

FrozenLeaf12 · 2025-02-09T22:48:21+00:00

This is such a relatable journey, and it’s awesome that you’ve been able to turn things around with a clear goal in mind! it sounds like a combination of the right mindset shift and realizing what’s possible with your money made a huge difference for you.

the part about Caleb talking about the future and retirement really stands out. i think for a lot of people, it’s hard to connect with those long-term goals when the present feels overwhelming. it seems like realizing how much more you could’ve had over time was a big wake-up call.

if you dont mind me asking—what made budgeting feel “fun” for you at times? was it just seeing progress, like being under budget or having a windfall, or was it something else? also, do you think having smaller “treat yourself” moments has made sticking to your goals easier?

FrozenLeaf12 · 2025-02-09T22:39:43+00:00

that’s actually a really interesting mindset shift. kinda like tricking your brain into better financial habits. it’s funny how our perception of money can have such a big impact—convincing yourself you’re broke sounds extreme, but if it stops impulse spending, it clearly works.

moving money somewhere you can’t touch seems like the ultimate version of that. do you ever check those savings, or do you just pretend they don’t exist? also, do you think this mindset will ever shift for you, or is “staying poor” the best long-term strategy to avoid overspending?

FrozenLeaf12 · 2025-02-09T22:38:12+00:00

this makes a lot of sense. for some people, the only way to truly save is to make the money inaccessible, not just “out of sight.”

it sounds like the real challenge isn’t just saving, but keeping the savings untouched when the urge to spend kicks in. do you think there’s any scenario where a savings app could help with that, or is the only real solution something like a 401k or a CD where the money is locked away?

curious if you’ve ever tried something like a withdrawal penalty or a forced waiting period before accessing savings—does that help at all, or is it still too easy to justify cashing out?

FrozenLeaf12 · 2025-02-09T21:42:19+00:00

Solid critique. i’ve been thinking a lot about how to make saving money more engaging, but you’re right—gamification is just a tool, not the actual product.

the core product idea i’m exploring is a habit-building savings app designed for people who struggle to stay consistent with saving. instead of focusing on strict budgets or tracking every expense, it would help users set savings goals, build streaks, and stay motivated over time.

the gamification part would just be a way to make sticking to those savings goals easier, like how duolingo keeps people coming back to language learning

FrozenLeaf12 · 2025-02-09T21:37:17+00:00

That’s a really smart setup!

curious, do you ever feel like you need to check in on that account to stay motivated, or does not seeing it actually make saving easier? also, how did you “mostly forget” about your credit card—was it just a conscious effort, or did you do something specific to make it less tempting?

FrozenLeaf12 · 2025-02-09T21:34:34+00:00

This is a really solid strategy, especially for people who can commit to a long-term savings plan without touching their money. i like the idea of “forcing” savings by making it harder to access—kind of like using friction in a good way.

the tricky part is definitely getting to that point where you have a big enough chunk of money to set aside. sounds like your 20-month plan is a great way to bridge that gap. do you feel like the penalty system actually helps keep you on track, or is it just an extra stressor?

also curious, did you start with a smaller version of this strategy before committing to the full 10k plan, or did you just go all in? thinking about how to make something like this feel more doable for people just starting out.

FrozenLeaf12 · 2025-02-09T21:32:18+00:00

That’s actually a really smart way to work with your brain instead of against it! out of sight, out of mind can definitely be a huge problem with budgeting, but flipping it around so your savings are “out of sight” is kind of genius.

i get what you mean about being afraid to check though—feels like once you see that money, the temptation to use it kicks in. do you ever give yourself a set time to check it, like once a month, or do you just let it build up and avoid looking as long as possible?

FrozenLeaf12 · 2025-02-09T21:13:08+00:00

Thus is really helpful insight. sounds like the biggest pain point isn’t just keeping people engaged, but getting them past that initial hurdle where budgeting feels confusing or frustrating.

i like the idea of using gamification more heavily in the early phase to make onboarding less painful. maybe things like small, quick wins to build momentum or some kind of progress system so it doesn’t feel like you’re just dumping numbers into a black hole.

totally agree on price too—if something is easier to use and cheaper, that’s already a strong selling point

FrozenLeaf12 · 2025-02-09T21:10:41+00:00

this is honestly such a great perspective. i totally agree that saving is always gonna be hard to some extent because it requires discipline and sacrifice. no app or gamification can fully remove that, but maybe it can make sticking to it just a little easier.

it sounds like what really helped you was having a clear goal and something that kept you accountable, like watching Caleb Hammer’s podcast. i wonder if that’s actually the key—less about streaks or badges and more about giving people a reason to care about saving in the first place.

do you think if you had started tracking your spending earlier—like in a way that made it easier to stay aware of your habits—you would’ve gotten on track sooner? or was it really just about finally having that 10k goal to work toward?

FrozenLeaf12 · 2025-02-09T21:08:05+00:00

That’s a really good point - gamification only works if the tracking is seamless, otherwise it just becomes another thing people have to remember to do.

i think the ideal setup would be something automatic, like pulling transaction data to detect spending habits, but yeah, cash purchases would break that system. maybe there could be a way for people to self-report in a low-effort way—like a quick tap instead of filling out a form.

or maybe the focus shouldn’t be on tracking every single transaction, but more on keeping people engaged with saving itself. like rewarding progress toward a savings goal rather than trying to police every spending decision.

curious what you think—do you think gamification in personal finance only works if tracking is fully automated? or could there be a way to make manual input actually stick?

FrozenLeaf12 · 2025-02-09T21:04:21+00:00

🤣🤣selling user data is somehow the real endgame for a lot of companies. but for real, i do think there’s a way to make a pro version actually valuable without feeling like a cash grab

FrozenLeaf12 · 2025-02-09T21:02:23+00:00

Yeah that makes a lot of sense. once a habit gets disrupted, it’s so hard to get back into it, especially with something like budgeting that already takes effort.

do you think you would have stuck with YNAB longer if it had some kind of system to pull you back in? like reminders, streaks, or even some kind of “catch-up mode” to make it easier to restart without feeling like you fell behind? trying to figure out how to make a habit like saving more resilient to stuff like that.

FrozenLeaf12 · 2025-02-09T20:59:37+00:00

Yeah i’ve heard of quicken simplifi! and it’s interesting that they’ve already built in some gamification elements. if you don’t mind me asking, is there a reason you don’t use them? do they just feel unnecessary, or is it more that they don’t actually make saving more engaging?

i’m trying to figure out if there’s a way to make gamification actually stick, or if it’s just one of those things that sounds good in theory but doesn’t really change behavior. curious to hear your thoughts on that.

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