Hot New FinTech Start-Ups for the Saver, Investor, and More

FinTech Startup Competition at FinCon15

There is no shortage of new and up and coming financial technology to support you, the personal money manager. Each of these new tools are worth considering to help you simplify investing, save more money, teach kids about money, and improve the management of your finances.

The companies are participating in the FinTech Start-Up Competition at FinCon. The goal of the competition is to expose early – stage businesses to the consumer-facing financial media work (personal finance bloggers, podcasters, etc.) and provide FinCon attendees with new material to review via their media channels.

Some of these tools and services are not yet available and some of them are free to early adopters. We recommend reviewing the list and visiting the ones that interest you the most to see what works best for your situation.

Hot New FinTech Start-Ups

wherewithalWherewithal – With Wherewithal, you save money by shopping online with Wherewithal online partners.  The nice thing about this service is that you earn credits that get deposited directly to your savings account.

Obviously, saving money is a smart move. Just make sure you’re not overspending in order to save more. Use this service when it falls within your budget and you have a need to shop for.

DraftDRAFT – An investing tool that seeks to help people understand their portfolio mix (conservative, moderate or aggressive) and fees as compared to other investors. It addresses a common problem of the complexity of the investment industry. With this information you can fill allocation gaps and save on fees.

Just when you think you have investing down, you might be surprised to see what you’re paying in fees. We like this service because exposing hidden feeds means avoiding the erosion of your earnings!

TickerTagsTickerTags – A monitoring service for the social web and flagging phrases or tags that represent market movements.  TickerTags has identified certain tags that correlated to public stock tickers. When there are movements, you receive alerts.

This can be a fun service to follow. Just remember that the best strategy is a long-term strategy. While trends are helpful to understand, don’t let this service tempt you into short-term trading.

FamZooFamZoo – FamZoo helps teach kids about earning, saving, budgeting and spending money. You create your own family economy and track payments to kids for completing jobs. Use either IOUs that represent money that will be moved to a real checking or savings account, or prepaid debit cards for a fee.

Overall, this is a handy tool to start involving kids in money decisions at an early age and teaching them the value of work. What better way to do this than having an electronic family economy to manage together.

myFinancialAnswersmyFinancialAnswers – This financial planning software looks at your unique financial situation and provides recommendations based on your goals. Recommendations are provided in a personal action center or checklist to help you stay organized and make progress.

Is this new online financial planning service right for you? You can check a 60 day free trial to determine if it can replace that which your current financial planner offers.

SimplyWallstSimplyWallst – Founded on a fundamental belief that investing can be made simple and everybody can be a successful investor in a stock market that averaged a yearly return of 10% over the last 100 years. Interestingly, SimplyWallst provides a new visual way to invest. They provide a visual snowflake, or Infographic that based on 30 checks helps you decide if it’s a company worth researching further and ultimately investing in.

The uniqueness of this approach alone is worth checking out. Sorry spreadsheet lovers. This probably isn’t for you.

HipMoneyHipMoney – An app that helps you save money daily. You set your savings goals and HipMoney analyzes spending and makes recommendations for you. You can also see how a community of people are saving so to learn from others. The app is connected to your bank accounts and saving is done with a simple swipe based on the recommendation you receive.

Swipe and save. We like the simplicity of that. The community feature can also provide a lot of incentive here, especially when you’re lagging behind the crowd.

dymeDyme – A text powered savings tool app that works with your bank and helps you save more money. Key features include ability to save via text messages, bank account integration and partnership to find the best deals. Dyme can alert and encourage you twice per week with ways to save more money and will move the money to your savings account for you.

You can’t go wrong with setting savings goals and having a friend remind you of how to save more money. Encouragement and reminders are good.  Just don’t spend to save.

PennyPenny – A personal finance app that seeks to help you spend smarter, save more and according to their website, live happier. The app identifies spending across all areas and puts transactions into 4 simple categories to track. At the end of the day, Penny’s goal is to help you know everything about your money in a simple and easy to read app while also helping you pay closer attention to where your money is going.

With the valiant goal to simplify the money management process, this app is worth checking out. We like the idea of knowing more about where our money is going in a simplified way.

SweepSweep – This app helps you forecast your future spending and set necessary money aside. It claims you’ll never need a budget again which may be attractive to some people. As with any budgeting process, Sweep tracks bills that are due, helps you set aside money in savings buckets and then lets you know how much money you have available to spend worry free.

With this app, you’re likely still planning and budgeting but wouldn’t know it because of the automation. And that can be a good thing for those intimidated (or annoyed) with budgeting.

Final Thoughts

Keep in mind that most of these companies are new to the financial technology space and some are technology folks and not necessarily financial experts. While we haven’t dug deeply into each one (this is just an introduction), you’ll want to do your own due diligence and experimentation of their products and determine if they are worth adding to your financial tool belt.

At the end of the day, these companies are about automation which can reduce the overhead associated with managing your finances. With that, just remember no tool can or should take away your responsibility of being a good manager of your finances. Stay in the driver seat and use tools to support your hard work.



Last Edited: September 9, 2015 @ 7:36 am The content of ptmoney.com is for general information purposes only and does not constitute professional advice. Visitors to ptmoney.com should not act upon the content or information without first seeking appropriate professional advice. In accordance with the latest FTC guidelines, we declare that we have a financial relationship with every company mentioned on this site.
About Jason Price

Jason Price is a husband, dad, budget coach and blogger. He shares personal money management tips and tools to help people make progress on their financial journeys. Connect with Jason on Twitter or read more of his PT Money articles.

Comments

  1. Nice roundup! Great money management apps are super timesavers and help you stay firmly in control of your money – I look forward to test-driving these.

  2. Awesome, looking forward to checking these out at FinCon

  3. Awesome list. I’d never seen the sites TickerTags and SimplyWallst before, so going to check those out.

    TickerTags is super interesting to me, it’s similar to an idea I had thought about adding to my app (see profile), but trying to base chart indicators on trends from social media.. but I have so many other features to finish first, haha.. Great stuff.

  4. Very cool. It’s definitely been a fintech bonanza out here in San Francisco. I hope the funding keeps flowing!