On Nov. 15th, a Personal Finance headline in the WSJ read, "There's a Reason a Killer Money-Savings App Still Doesn't Exist." Or is there? Rosemarie Groner, The Busy Budgeter, shared in a YouTube video, "I teach budgeting for a living and I can't tell you how excited I am about this technology. When I first heard about it, the idea was so revolutionary, and I knew it would change everything about personal finance."
With the announcement of the closure of the budgeting app Mint, the trailblazer of the personal financial management (PFM) industry will join a packed list of companies that have failed trying to help people spend less money. This has many scratching their heads and asking what it is about the existing banking and budgeting apps that aren't giving people what they really want. Additionally, why are people reluctant to pay for services to help them create better habits with their money?
