![]() When you want to make a purchase - either by typing your card info in for online checkout or by swiping your debit card - you have to unlock a qube in the app to instantly fund your card. Your debit card doesn’t carry a balance until you choose a qube to unlock from the app. The secret to changing your spending habits with Qube is that you have to make real-time spending choices. For online bill pay, the app draws from an assigned qube automatically based on customized rules that you set in the app. Before you spend, you must unlock a qube to let the app know which bucket of money to draw from for your purchase. Once you set dollar amounts for each qube, the app funds each category as you add money to your account through money transfers or paychecks. You can even dedicate qubes to paying off debt to make sure you set aside enough every month before you spend it elsewhere. Use goal-based qubes to help you save money for purchases like a vacation, wedding, or new car. You can also create qubes based on where you shop, like Amazon, Target, or Sephora. ![]() You can create qubes for spending categories, such as groceries, clothing and fashion, transportation, drinks and dining out, and entertainment. For example, you can create qubes for typical budget categories like rent, electricity bills, cable bills, cellphone payments, and car loan payments. Like an envelope-based budgeting system, you create a qube for anything you want to use your money for. It aims to help you create a proactive budget that encourages you to set aside money for expenses, debt payoff, and savings before you spend. The key to this app is the “qube,” a virtual envelope that designates each of your dollars for a specific job. “Qubes” for Budgeting, Saving, and Paying off Debt Qube’s premise is simple: It turns the envelope budgeting method digital and layers it on top of your bank account for seamless digital cash envelope budgeting. The fledgling banking-and-budgeting app lets you visualize and manage your budget, control spending, and automate saving through its signature “qubes.” To determine whether this is the solution for your banking and budgeting needs, get to know its features. Utah-based entrepreneurs Ryan Clark and Shane Walker founded Qube Money - or, simply, Qube - to address this need. Popularized by Dave Ramsey decades ago, the system assigns a job to every dollar you bring in - where to spend it, save it, or use it to pay down debt - by literally putting cash into envelopes for designated expenses.įew of us use actual cash for the bulk of our purchases anymore, however, so fintech has had to adapt to bring this useful budgeting system into the digital age. The cash envelope budgeting system solved this problem for a lot of people. Setting limits on spending feels restrictive and difficult to adhere to.
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