Sasha sent a message to Ajaypal Singh Banga – President and Chief Executive Officer of MasterCard – Email Address that said:
My name is Sasha. I am an ambitious business student at the University of Alberta in Canada. I believe I have the basis for a revolutionary idea in the world of money. Spending incredible amounts of money on unnecessary clothing, technology and food is a massive problem in today's world. In fact, often it is the reason for much of the debt people find themselves in. My "Save My Money" idea is one that helps financially motivated people to get their spending habits back on track.
I understand that I am young, but please read through what I am about to present to you with an open mind!
Even for someone of your status and caliber, I am sure that you have had cravings before - whether that be for the McDonalds Crispy Chicken or for well fitted suits from TOPMAN. Regardless of your wealth, it probably is not the best habit to give in to cravings whenever they appear in your mind. I myself have this problem. Working part time at a shoe store, I do not have much money to spare. However, on my regular walk through Southgate Mall to get to Browns, I encounter the aromatic, irresistible waft of Tim Hortons coffee. After looking at my watch and mentally calculating the amount of time it would take for me to stand in line, I usually end up grabbing a coffee. A small coffee is only about $1.50, so what harm is that?
I came to see where the problem was when I checked my bank account one day. The endless list of daily Tim Hortons coffee and donuts shocked me. What could I do to stop myself from spending so much money on silly cravings? I thought about leaving my card at home to stop myself from spending in general, but that was unpractical considering I had other necessary expenditures throughout the day.
That is when a revolutionary idea popped into my head. Many people around the world recognize their spending problems, and usually the spending occurs at one or two places regularly. As humans, self control can only take us so far before we give in and continue our detrimental habits. What if someone like me, a Tim Hortons coffee addict, could register online to have my credit card company block my card usage at Tim Hortons for an irreversible certain number of days. I would walk by Tim Hortons, get attracted to the smell, but this time rather than battling a mentally weak and collapsible barrier, I would be literally forced by my credit card company to just walk on by. Yes, it is true that one can take money out of their account to buy what they want without limit, yet this program is one for those who are ready to change their habits and need but a slight push. This is still a very rough idea, but I believe that with the right help and guidance it can become very influential in today's world.
The money saving industry is much needed in the world, and has an exponential potential to grow. The majority of the world has financial problems, and these people need more than just counselors to maintain their good habits. It is said that a habit can be formed in just 21 days. Think of what may happen if for 30 days someone had a limit to prevent them from shopping somewhere. Most likely when their freedom to purchase items from that store is once again available, they will be less likely to abuse that power.
Thank you for taking the time to read through this email, and please let me know what you think!. I would love to be able to work with someone from your company to make my vision come to life.
One other thing I would like to add is - being a young ambitious Indian entrepreneur, I am deeply inspired by you and all of your successes.