Mobile App Tracks Spending and Savings for Personalized Goals | Be Korea-savvy

Mobile App Tracks Spending and Savings for Personalized Goals

First-of-its-Kind Android Tool Tracks Spending and Savings for Personalized Goals, Giving Users a Simple Way to Draw a Direct Line from Everyday Spending to Financial Success (image: Kobizmedia/ Korea Bizwire)

First-of-its-Kind Android Tool Tracks Spending and Savings for Personalized Goals, Giving Users a Simple Way to Draw a Direct Line from Everyday Spending to Financial Success (image: Kobizmedia/ Korea Bizwire)

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SAN FRANCISCO, June 06 (Korea Bizwire) – Level Money, the mobile-first financial services company, today  announced the addition of a new feature, Level Goals, to its flagship  Android app. The savings-specific tool draws a direct line from members’  daily actions to their goals, enabling them to see how they can save  over time for the things they want.

The Level Goals offering enhances Level Money, a free app that turns a  smartphone into a mobile money meter and enables members to easily track  their spending in real time. The new savings tool is launching on the  Level Money Android app first, with iOS coming soon. The update is  available in the Google Play store today.

Level Money members are encouraged to designate a specific percentage  toward savings at the beginning of each month via the already-existing  “Autosave” feature. Now, with Level Goals, they are also able to set up  savings goals for specific items – from a summer vacation to a favorite  pair of shoes or a home down payment – roll over unspent money directly  towards those savings goals, and watch the money accumulate. With this  new tool, Level Money is helping members clearly see the benefits of  positive spending behavior.

“The hardest part of savings is getting started. The second-hardest part  is actually sticking with your plan,” said Level CEO and Co-Founder Jake  Fuentes. “With Level Goals, we have created the easiest, simplest way to  start saving and make progress, automatically. We draw a straight line  from everyday decisions to long-term achievement. Just set a goal,  monitor your everyday spending, and achieve balance. It’s as simple as  that.”

Key features of Level Goals include:

  • Customized goals profile: Members can designate specific items  they want to save for, and these items are added to a customized  goal’s profile showing the total amount needed to save. From there, a  member can add a photo of the item they are saving towards to stay  motivated and visualize their success.
  • Automatic “rainy day” fund: Since it’s important to save for a  rainy day, Level Money calculates a smart suggestion for a “rainy day”  fund goal, with a recommended amount based on income.
  • “Rollover” funds towards your goals: At the end of each month,  Level Money informs members of how much spendable income they have  leftover after everyday expenses. Level Money members can then put  this “rollover” towards their personalized goals, designating exactly  how much money they want assigned to each goal.
  • Tracking success: When members accomplish a goal, Level Money  rewards them with positive feedback. Level Money remembers when a user  sets and completes a saving goal, showing how much they saved and how  fast they saved.
  • Social sharing: Establishing a social support system can help  people achieve their goals. Level Money members are offered the option  to share their savings accomplishments with friends to help stay on  track.

In a world where most money is represented digitally rather than as  physical cash, Level Money provides the mobile equivalent of opening up  a wallet to see how much money is available to spend. With Level Goals,  members can now also see at a glance how much they are saving for their  aspirations and how their spending habits are helping them hit their  mark.


Level Money is dedicated to building a financially sustainable society  for today’s young adults. Level Money’s approach begins with everyday  decisions: the Level Money application provides an instant, at-a-glance  read on financial health. Level Money applies the “quantified self”  approach to finances, eliminating the need for budgets. Level Money’s  mission is to create a fully-integrated, next-generation financial  services company designed for the 21st century. Level Money is led by a  team with deep experience in design, mobile engineering, and finance,  all oriented towards a common objective: setting up the next generation  for financial success. Named a top startup to watch in 2014 by Mashable  and Business Insider, the company is funded by Kleiner Perkins Caufield  & Byers and is headquartered in San Francisco, California. For more  information, visit

Source: Level Money (via BusinessWire)

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