For a lot of recent grads, managing your money sounds as fun as an 8am meeting on Friday. Checking your slowly growing bank account can be depressing, especially if all you really want to know is if you can afford to go out with your friends tonight or buy those shoes you’ve been eyeing for a week.
The Level Money app is your new best friend. This app, developed by a former Visa engineer and an Intel board member, simplifies your financial life into three circles, telling you how much you can spend today, this week and this month.
Drill down a little deeper and the app lets you know how much you saved (by not hitting your spending limit) helping you work on long term financial goals like building up your rainy day fund or save for a new car.
So how does it work?
When you download the app, you’ll need to sync it with your bank account. While that may sound sketchy at first, there’s no need to worry. Level has partnered with Intuit to provide the same 128-Bit Encryption many banks and financial institutions use to facilitate safe transactions, so your information never leaves your device and is always secure.
Once the app is loaded, it will scan your past transactions looking for patterns to determine how much you have to spend on things like bills and student loan payments. It then uses this information to help you break your spending into buckets like bills, savings and spendable income.
You can check the app anytime for a real-time update on your current spending and see how much you have for the rest of the month. For help managing your cash flow and avoiding nasty over-draft fees, Level Money is a great app.