Level Money Announces The Release of Their New Feature, Level Goals.
The mobile-first financial service company, Level Money, has recently announced the newly integrated feature, Level Goals, on to its flagship Android application. The saving specific tool draws a direct line from members daily actions to their goals allowing them to see how they can save over times for items they wish to purchase.
The Level Goals offering enhances Level Money, a free application that transforms the smartphone into a mobile money meter and allowing members to easily track their spending in real time. The new savings tool is launching on the Level Money Android app first, with iOS coming soon.
Level Money members are encouraged to designate a specific percentage toward savings at the start of each month through the already-existing “Autosave” feature. Recently, with Level Goals, they are also able to set up savings goals for specific items – from a summer vacation to a favorite pair of shoes or a home down payment – roll over unspent money directly towards those savings goals, and watch the money accumulate. With this new tool, Level Money is helping members clearly see the benefits of positive spending behavior.
“The hardest part of savings is getting started. The second-hardest part is actually sticking with your plan,” said Level CEO and Co-Founder Jake Fuentes. “With Level Goals, we have created the easiest, simplest way to start saving and make progress, automatically. We draw a straight line from everyday decisions to long-term achievement. Just set a goal, monitor your everyday spending, and achieve balance. It’s as simple as that.”
Key features of Level Goals include:
- Customized goals profile: Members can designate specific items they want to save for, and these items are added to a customized goal’s profile showing the total amount needed to save. From there, a member can add a photo of the item they are saving towards to stay motivated and visualize their success.
- Automatic “rainy day” fund: Since it’s important to save for a rainy day, Level Money calculates a smart suggestion for a “rainy day” fund goal, with a recommended amount based on income.
- “Rollover” funds towards your goals: At the end of each month, Level Money informs members of how much spendable income they have leftover after everyday expenses. Level Money members can then put this “rollover” towards their personalized goals, designating exactly how much money they want assigned to each goal.
- Tracking success: When members accomplish a goal, Level Money rewards them with positive feedback. Level Money remembers when a user sets and completes a saving goal, showing how much they saved and how fast they saved.
- Social sharing: Establishing a social support system can help people achieve their goals. Level Money members are offered the option to share their savings accomplishments with friends to help stay on track.