Nearly 70% of Americans have less than $1,000 in savings, and a third don’t have anything saved for retirement.
That means keeping score of income, expenses, savings and any debts that need to be paid.
It gives users a consolidated dashboard of their financial standing.
It also keeps track of monthly spending on overhead expenses like bills, food and dining, transportation and even entertainment.
The traditional way of doing is this putting funds in jars or envelopes marked for specific purposes.
This compartmentalizes their money so that users do not spend what is set aside for groceries to pay phone bills and vice versa.