What you see...

If I were to tell you 38 million people in the U.S. live paycheck to paycheck, you'd probably assume that most of them must earn an income below the poverty line. But, did you know that 2/3 of those same people have a median income of $41,000? That's well above the threshold for poverty in America of $23,550 for a family of four. This phenomenon of taking everything as we see it, or as it is presented is called "What you see is all there is." It's like having an onion. But instead of peeling back all of the skin and external layers, we just take a bite and assume that's all there is. For example, you can now easily find this stat that might make you feel better about saving. Workers the age of 30-49 are saving, on average, $200/month. The narrative around this will be something like, "finally they are working towards their future." Which, taken at face value, sounds good. But, in reality, this turns out to be $230,000 after 35 years of saving, which equates to $1,000/month in income. That's not nearly enough for retirement. The perception around financial wellness nowadays is that millennials are uniquely poor at savings, budgeting, and investing. After peeling back the layers, we see that this isn't entirely accurate.

Think about all of the incredible things technology allows us to do presently. We can communicate with someone across the world instantaneously, request a car to come pick us up through an app, and even find love by swiping right. And yet, with all of the advances we've made one thing that has stayed the same is the way we budget. In fact, budgeting advice and the way it's delivered has been the same for hundreds of years. Of course, multiple different platforms and products have been developed to help us better set, track, monitor and gain insights to our budget. But nothing has peeled back the layers and looked at the root problem of the way we’ve budgeted. No focus has been given to creating genuine engagement and long term saving habits of the user. Sure, we can't just throw away the stats. The statistics tell a story. Just not the story we've been led to believe. The problem isn't that the millennial generation doesn't like to budget or isn't making enough money. The problem is the platform. The problem is the antiquated nature of finance.The problem is that budgeting as we have known it is too complex, too burdensome, too restrictive and lacks long term adoption or acceptance. Think about it; it's a daunting task to sit down and list your spending and set limits on specific categories.  Even if you did that, then you'd have to track it (whether manually or automatically). Lastly, you'd have to figure out how to move one category budget to another category. Like take from your haircut budget to allow for you to eat out towards the end of the week. Where's the fun and flexibility in that?

One of my biggest pet peeves is someone who states a problem but doesn't offer a solution. So, I wouldn't do that to you. So here's our solution: A daily spend limit. A simple, flexible number that creates engagement and easily integrates into your everyday life.Because, in the end, does it really matter whether you spent $500 or $200 on coffee for the month? As long as you're still able to pay for your core expenses and save for your short and long term goals like taking a trip or saving for retirement, then you're making progress. That’s why we developed the daily spend limit. To simplify budgeting. We break it all down to one number. ONE number. And that's the amount that you can spend every day. NO MATTER WHAT. Spend it on whatever you like; it's your money. If you don’t spend it all, then you get to carry it over. If you spend more of it, then you have to control yourself the next day. We put the power back in your hands. So you never again have to worry about where you are spending your money as long as it's in your Daily Spend Limit.