Spending within your budget can be very hard for many. You can set budgets, write down expenses and keep track of them all day long, but when it comes down to making a purchase, some people just can’t resist spending. And sometimes it isn’t even a matter of willpower; sometimes, people simply do not realize how much they are spending until after they’ve made the purchase. The Feedback Card is looking to change that.
The Feedback Card is a single card that can be synced to multiple checking accounts. This alone is nothing new, however, its ability to display, in real-time, the amount that its user can spend is something that has potential to completely change how we save our money.
How Does It Work?
The entire process is all quite simple. The accompanying mobile application creates a uniquely tailored budget that factors in the user’s savings, expenses and income. Once the budget is created, users add a checking account to the application and simply tap the card to their smartphone, and the information is synced. The card itself actually displays the amount of money that users can spend for the remainder of the day. The card can even display the remaining budget for the week and even the month.
By offering a method of instantaneously checking on expenses, the Feedback Card has the potential to completely revolutionize budgeting as we know it.
How Will This Revolutionize Budgeting?
Most people who try to budget do not have a set amount of money that they can spend in a day. And if they do, they can easily forget how much money they’ve spent in the day if they’ve made several purchases. In order to organize their expenses, they would normally have to collect their receipts and calculate all of that information into a calculator and record the sum either on paper or on a banking application. The Feedback Card instantly calculates how much money you’ve spent after any purchase, and deducts it from your daily, weekly or monthly budget. This spares you from having to do the legwork of calculating and record-keeping. Having this information at any moment can truly influence the way people spend their money.
The Feedback Card is not yet available, however, if you visit their website, you can sign up for updates on the card’s release date.