Cashmere Guest Post: The Millennial Savings App
In a tech industry led by millennial workforces and young creatives, the fields of finance and digital technologies are set to overlap more and more in the coming years. To help us get ahead of the curve, we spoke to Cashmere, a smart social savings app for millennials, to find out just what we need to be saving our earnings for, and how our fashion indulgences could actually be helping us invest our precious cash.
Cashmere is a smart social savings app that helps trendy millennials save towards and buy luxury fashion ‘guilt-free’ and without having to dip into their personal savings. The vision is to get millennials saving smartly with their friends for their luxury ‘guilty pleasures’.
When we talk about saving, we always talk about saving for a house, a car, a pension, etc, which are all important things to save for, but I also believe in being able to enjoy the luxuries of life.
It’s all about balance!
The Cashmere idea came from my undying love for fashion and luxury but having a limited budget to fund these loves regularly and without feeling guilty. I was in Harrods with my friends, we walked into Shoe Heaven and I saw a pair of Christian Louboutins that I instantly fell in love with. Then I saw the price tag… Although I had the money to buy those shoes, I couldn’t justify impulsively dropping £625 on a pair of shoes that I didn’t budget for. So I made the responsible decision to not get them. That evening, while feeling sorry for myself because I hadn’t bought the shoes, I thought to myself , ‘if I had a special stash of cash that I had saved up purely for these sort of impulsive purchases, then I wouldn’t have felt guilty about making that purchase’.
And that’s how the Cashmere idea was born!
I decided to create something that enables you to put a little money away towards something you’ve been lusting over that you didn’t think you’d be able to afford or couldn’t justify buying, whether it’s that Givenchy ‘Antigona’ bag or the Valentino Rockstud shoes!
I’m very inspired by Natalie Massenet, the founder of Net-a-Porter, as she was one of the ﬁrst to bridge the gap between luxury and digital technology, two things that have not worked as well as they should have in the past. I think there’s even more potential for these two worlds to coexist even better especially now that my peer group identiﬁes a lot more with digital technology.
Cashmere is built for the modern millennial, the fashion fanatic, the stylish sartorialist. I believe I can revolutionise the way we young adults consume luxury without breaking the bank or resorting to using a credit card and my goal is for Cashmere to be the go-to app for saving towards and owning luxury fashion goods guilt-free!
To join the waiting list, visit www.cashmereapp.co.uk.