October 22, 2012
Personal finance — we all love to hate it. After paying for the essentials, how much do you have left to spend? And an even better question — how much do you have to spend today?
Thanks to TruBalance, your questions are answered. In fact, your budget is your friend. Users simply enter in their recurring bill amounts, income, bank balance, and the minimum buffer. Through their app, TruBalance aggregates this information and sets one maximum amount you can spend each day.
The idea was born out of a frustration with existing tools that analyzed recent spending habits. “What didn’t exist was a 30-, 60-, 90-day forecast into the future that tells you how you can spend everyday,” explains Jana Harper, co-founder and developer of TruBalance. Users can make sure they don’t dip below their lowest comfortable balance.
“We are trying to position ourselves as the anti-budget,” said Keith Harper, TruBalance designer. “Most people are more passive and don’t keep up with their initial budget goals because it’s a lot of details to manage.” TruBalance solves this problem by giving them the information without daily maintenance.
Jana and Keith founded TruBalance after participating in a 54-hour StartupWeekend event in Seattle. The team launched the beta version and is currently gathering feedback. Future plans include integrating with banks so that users can link their accounts to the app. Keith explains, “There’s so much negativity around bank fees that are imposed on people who are also bombarded with credit cards. TruBalance is pro-giving people the information they deserve.”
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