Budgeting is a pain. Apps like Mint can make things easier, but not everyone needs, wants, or cares to track and categorize every expense by type. They just want to know one thing: How much money do I have to spend without going in the red?
These are the folks Level Money is designed for. After linking bank accounts and credit cards, the app determines how much money you can spend today, this week, and the rest of the month, making it easy to ensure you've got savings stowed away for a rainy day.
Level CEO Jake Fuentes thinks of Level Money as Fitbit for your wallet, keeping track of its activities in a simple, straightforward way. Putting things into buckets like 'food' and 'entertainment' - the traditional budgeting way - is not necessary for many of today's mobile users (namely, the Millennial demographic), he says.
And so the experience is super simple. When you open the app, three bubbles show how much money you have to spend today, this week, and the rest of the month. Tapping on one provides a deeper look at where money has gone during each time period. Through a menu on the left, you can also get a list of pending and posted transactions to your accounts. You have the ability to mark them as normal, unusual, or a bill to help the app better determine your spending limits.
For those (rightfully) concerned about their financial data getting into the wrong hands, Level Money is architected with bank-level security standards, and uses Intuit to manage your bank information.
Again, Level Money isn't as comprehensive as other money management apps, but that's by design. It's budget handling at its very simplest, and from our experience, it does a good job of it.
Level Money is iOS-only for now, but an Android version is on the way. You can grab it from the App Store today.
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