Feel free to sign up for the waitlist now. If you’ve gone to the Qube Money website, you’ve probably seen that there is currently a waitlist to try the product. Designed for power users, some of the features of this level include: This level is coming soon and is $25 per month. The Teen and Kid cards give children freedom while also allowing parents to guide them in their money-making decisions. Parents and caregivers can help the younger generation build smart spending habits using innovative technology that’s easy to use.” Parents can then invite a secondary account holder such as a child or someone they support and give them their own debit card. A primary account holder must be over the age of 18 and they will have access to all features within the app.
“Teen and Kid Cards require a primary account holder. This plan includes everything from Qube Money Premium plus:Īccording to Henderson, the Teen and Kid cards are set up differently than the adult cards. Qube Money Family is $15 a month and covers your family’s budgeting needs. The best features here include everything from the basic account plus: Qube Money Premium is $8 a month and is a good fit for individuals with more budgeting needs or couples. You can get Qube Money Basic for free, which is ideal for one person with basic budget needs. Qube Money offers four different plans with differing levels of service and cost. Articles such as “13 Main Budgeting Categories & 3 You Don’t Want to Forget” as well as “How to Change Your Money Habits” can help you become a better money manager. Not only do they give updates on Qube Money, the product, but they also share useful articles that help readers learn to better manage their money. Qube Money truly seems to be interested in helping customers change and improve their financial behavior - both through the Qube Money app and their blog, which is well worth the read. You can see in real-time how much money is in each Qube.
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As soon as you spend money from the category you designate, Qube Money shows your remaining balance. No discipline is required to track your expenses to keep your budget up to date. No more “Where did all my money go?” feelings. You can see detailed purchases in each Qube, so it’s easy to track how you’ve spent your money. Whenever I’ve tried to only buy things with cash, I find myself frustrated because I can’t easily track my spending as I can with a credit card. Qube Money has a number of features that make it much easier to use than actual cash. You purchase your gas, let’s say for $40, and when the purchase is done, the remaining balance, in this case $260, is transferred back to your bank account. Your entire available balance in that category, in this instance $300, is loaded onto your card. When you pull up to the gas station, you go to your cell phone and click on the gas category in Qube Money. The debit card has a zero balance to help prevent unplanned spending or theft. For instance, you may add $1,000 for groceries, $300 for gas, and $200 for spending, to name a few. When you set up Qube Money, you take your available money and separate it into different “Qubes” or spending categories. We partner with a bank that’s been in the industry for over 100 years and all funds are secured in an FDIC insured account. To use Qube, you’ll need to transfer funds from your bank into Qube. How Qube Money WorksĪccording to Scott Henderson, Marketing Manager at Qube Money, “When you create a Qube Money account, you’re opening a new bank account that comes with your own debit card. Designed by financial planners and coaches, Ryan Clark and Shane Walker, the program was originally marketed under the name, ProActive Budget. Qube Money is a digital cash envelope system that gives you the discipline of using cash envelopes with the convenience of using a debit card. Some people forget the envelopes or feel unsafe carrying around a large amount of money. However, getting into cash habit can be tough. Using cash envelopes is espoused by many financial experts such as Dave Ramsey and the Budget Mom. Without the boundaries of cash, many people routinely overspent, and credit card balances increased. However, as credit cards became more popular, fewer people used cash. For every item she added to the cart, I had to add the price to the calculator to make sure that she didn’t spend more than the cash she had available. I still remember when I was young going to the grocery store with my mom. Years ago, our mothers went to the grocery store with cash to buy the week’s groceries.
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