Patent ID: 8577764

Claim:
A method comprising: receiving, at a computing device of a financial institution, data relating to a user defined goal, wherein the user defined goal includes a negative consequence that is applied to a user for which the goal is set if the user does not meet the goal and a reward that is given to the user if the user meets the goal; receiving, by the computing device, information identifying one or more funding sources from which a collection of funds is to be obtained for the goal, wherein the reward specifies a first action to be taken with the collection of funds and the negative consequence specifies a second action, different from the first action, to be taken with the collection of funds; determining, by the computing device, whether the user defined goal has been met based on the received data; in response to determining that the user defined goal has not been met, determining whether the user purchased goal insurance; in response to determining that the user purchased goal insurance, determining whether one or more insurance qualification parameters have been met; in response to determining that the one or more insurance qualification parameters have been met, preventing the negative consequence, including the second action to be taken with the collection of funds, from being applied; and in response to determining that the one or more insurance qualification parameters have not been met or determining that the user did not purchase goal insurance, authorizing, by the computing device, application of the negative consequence including the second action.