An FKD Feature exclusive

Introducing Level Money, a personal finance app that turns your jumbled mess of income, expenditures and (hopefully) savings into a simple, real-time picture of your cash flow.

Popcorn brain is a thing dude, speak quickly.

As CEO Jake Fuentes told GenFKD, “This generation does not want to spend time managing money. We want to do the things that matter – experiences; those are the things that matter. Money is just a tool. We want it to fade into the background.”

Sounds about right.

What would you say, you do here?

After downloading the app for free, you need to give Level Money access to the places where the cash comes in and goes out. Input your banking information and plug in those credit cards you love swiping so much. Then submit your income, expenses and monthly savings goals.

Level Money will then present you with daily, weekly, monthly and annual overviews of your finances, and even lets you breakdown how much you’re able to spend on specific items. It’ll let you know whether you can splurge on that Magic Hat like a boss or go cost-efficient with some PBR tall boys – all without judging you too hard.

I’m what some would call “financially illiterate.” Can I use this thing?

Think of it this way: Level Money does the thinking so you can do the spending – preferably without having to sell your “spare” kidney to pay for rent at the end of the month.

“We tried to create an experience like opening your wallet and seeing the money in there,” explains Fuentes. “That feedback loop existed until very recently. Now you see a bunch of cards and maybe grab a receipt from an ATM and try to do math on it. We wanted to create the simplest possible way to manage money and know where you stand.”

Have your morning coffee. Keep your bodily organs. Everyone goes home happy.

I’m not my dad. I don’t own a desktop computer. I don’t use Quicken.

Level Money is a “by millennials, for millennials” app, so you don’t need stacks of manila folders, a desktop computer and a rolly chair to use it (though you definitely should use it in a rolly chair, cause rolly chairs kick ass).

As Fuentes tells it: “We realized two things. First, historical ways to save money and manage money aren’t relevant anymore. Savings passbooks aren’t around anymore, no one’s hanging around balancing checkbooks.

“In the meantime though, it’s gotten way easier to spend money – one click on Amazon, hop in an Uber, get dinner on Seamless. We want to manage it in a non-traditional way because detail-by-detail buckets just don’t work anymore.”

Can you hear me now?

Since your phone seemingly exists to bleed you dry financially and remind you of how awful a person you are ignoring calls from your family, Fuentes and Co. decided to use it for some good.

“Your phone is almost the only thing you have on you all the time. We look at that as the easiest way to deliver a financial pulse,” he said.

“The user case we think about is if you’re standing in line at Starbucks or going grocery shopping, you wanna know ‘Am I generally doing okay?’, not ‘Am I going shopping?’ Checking your phone takes eight seconds.”

Everyone’s idea is the greatest. Anyone else care about Level Money?

Level Money has been downloaded over 800,000 times and currently manages more than $25 billion. The service has been so successful that it was even acquired by traditional finance giant Capital One.

It’s hard to argue with Fuentes when he says, “This is the first step in a next-generation banking experience.”

Time is money jabrone, this better be worth it.

A free, safe and easy-to-use tool that helps you manage your finances without a brain cramp? You can thank us later.


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Header image: Shutterstock


Posted 10.07.2015 - 02:39 pm EDT

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app jake fuentes level money Millennials Personal finance saving

Written by

Matt Averna