CentWise: Micro Investments, Macro Gains
Inspiration
The idea behind CentWise was born from the realization that small, everyday expenses can add up over time without us even noticing. We wanted to take those small fractions of a dollar from daily transactions and turn them into something meaningful. By rounding up each micro transaction and investing the remainder into penny stocks, we aim to make investing accessible and effortless for everyone—using the money you'd normally forget about.
What it does
CentWise rounds up your purchases to the nearest dollar and pools the extra change into a wallet. Once the wallet hits a certain threshold, the app automatically invests the collected amount into a simulated stock portfolio. Although we are not yet using real stocks or real money, this system helps users build their portfolios effortlessly. The goal is to create a portfolio over time without the user having to consciously think about investing.
How we built it
Initially, we aimed to build a mobile app with a React Native frontend and Flask backend. However, due to time constraints, we pivoted to a web app built with Flask, HTML, and CSS. Flask manages the backend functionality, including user authentication, wallet tracking, and stock simulation. For now, we are using simulated stocks as placeholders until we integrate real financial data in the future.
Challenges we ran into
One major challenge was the initial plan to build a mobile app with React Native, which we had to abandon due to time limitations. Shifting focus to a web app helped us deliver an MVP within the deadline. Another challenge was designing the system to automatically invest from the wallet once it reached a certain balance. We also needed to create a simple, intuitive way for users to view their account, transactions, and portfolio performance—all while working with simulated stocks instead of real ones.
Accomplishments that we're proud of
We're proud of having built a Minimum Viable Product (MVP) that captures the essence of our original idea: making investing accessible with minimal effort. Even though we aren't yet working with real money or stocks, our platform simulates the experience and provides users with a glimpse into how small amounts can grow into larger investments.
What we learned
Through this project, we learned the importance of adaptability, especially when faced with time constraints. The shift from mobile to web allowed us to focus on core functionality and deliver an MVP. We also gained a deeper understanding of financial algorithms, portfolio management, and how to simulate stock investments in a way that users can easily interact with.
What's next for CentWise
Moving forward, we plan to integrate real stocks and real money into the app once we refine our current features. We'll also explore options like mobile app development, adding more investment options such as ETFs or crypto, and optimizing our stock selection algorithms for better returns. The MVP is just the beginning—we're excited about where CentWise can go next.
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