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Looma Savings Chronicles – Part 1

We are so excited to tell some figures to show how Looma helped our friends to save during the past two weeks.

So we launched the private beta on April 6. We reached out to our friends in California and asked them to check the app and give some feedback. Well, honestly we were not expecting these results but here are some key figures we want to share with you.

Before diving into the numbers, we would like to tell you a little bit about Looma and the rules. Basically, Looma helps people to save money when they spend. It’s neither a magic, nor a scam. It all happens with the help of the saving rules. A rule is nothing than a simple condition. It’s the same like saying to Looma: “Hey if I spend on a specific spending category like Eating Out, Clothing, Nightlife and Bars, etc., then save X percent of that amount for me, every time!”. This makes Looma deposit a saving from your checking account right after you spend money on something you have already selected.

Now about the numbers: please keep in mind that we are live for only two weeks now and currently available only in private beta.

saving categories

 

  • Our 6 heroes saved 288$ during April 6-April 23.
  • After 81 transactions Looma made savings with an average amount of $3.6 each
  • Some saving rules(in picture above) that are worth to be mentioned for the highlighted period were:
    • Users set an average 37% rule for Eating Out which saved $87 for them.
    • For Shopping an average saving rule was 15% that saved $41 for them.
    • $27 was saved on Oil and Gas, with an average saving rule 18%.
    • People also saved $133 while spending on grocery shopping, transportation, taxi fees, coffee shops, utilities and other expenses.
  • The highest rule for saving was set on Eating out – 50%.
  • The lowest saving rule was set on Coffee shops – 5%.

The numbers might seem pretty small, but there is a lot more to come. We are going to regularly keep you updated about our progress.

By the way, if you want to try Looma, feel free to subscribe to our waiting list on getlooma.com.

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