What Is Standing Cash?
Standing is a brand new firm, based in 2016. From their FAQ:
With Standing you’re capable of join the app to your whole related monetary accounts. Hyperlink your checking, financial savings, funding, bank card, mortgage accounts and extra.
As soon as your accounts are linked and your information downloaded, you’ll be given a collection of dashboards the place you’ll be able to examine the way you’re doing in numerous areas of your funds. You’ll get web price monitoring, simple budgeting instruments, revenue and debt dashboards, money circulation projections, credit score monitoring and extra.
Not solely that, however you’ll be capable of examine the way you’re doing compared to your friends, the nationwide common, folks in your space, folks in your age group.
Earlier than we get too deep into what you are able to do with Standing, let’s have a look at the method to join an account.
Signing Up For An Account With Standing Cash
What do you want to join an account with with Standing Cash? You’ll simply want some primary data.
- Full title
- Electronic mail handle
- Password
- Your date of start
- Annual gross revenue
- What sort of housing, personal or lease.
- Vehicles you personal
- Final 4 digits of your Social Safety quantity to confirm who you’re.
- Tackle (for use to confirm you by way of your Transunion credit score profile).
As soon as you present all of that data and are confirmed, you can begin including and linking your monetary accounts.
In testing out the positioning I used to be ready so as to add financial institution accounts from 3 separate banks, a mortgage firm, a 401(okay) account, and a robo-advisor. I had no points linking accounts, it was a seamless course of.
As soon as your accounts are linked it can begin pulling your information and analyzing it for you.
Standing Cash Options and Performance
So what instruments, options and performance can be found to you within the app?
A number of the belongings you’ll discover in Standing Cash:
- Web Price Monitoring
- Simple Budgeting
- Money Circulation Projections
- Free Credit score Monitoring
- Curiosity Charges Evaluation
- Account Alerts
To search out these items in your app you simply must navigate from your property dashboard, or click on on the navigation column to the left. In there you’ll discover hyperlinks to the next pages:
- Spending
- Earnings
- Money owed
- Belongings
- Web Price
- Credit score Profile
- Alternatives
- Rewards
Spending
Within the spending web page you’ll discover a breakdown of your total spending for no matter time-frame you’d like – the present month, previous 6 months, a 12 months. It has some stunning graphs exhibiting simply how a lot you’re spending, the way it pertains to your revenue, after which it can examine it towards your friends, nationwide averages and so forth.
It’s going to additionally break down your spending by class and provide the alternative to re-categorize transactions for those who suppose they didn’t get it fairly proper. You may also set spending “trackers” which is able to hold tabs in your month-to-month spending, primarily based on a spending aim you set.
Lastly they’ll offer you fast “good to know” details about your spending. Issues like “Groceries was the biggest class of your spending” or “Your common spending ranked decrease than that of your friends”. There are additionally “alerts” that pop up with data that must be delivered to your consideration.
Earnings
The revenue web page is much like the spending web page, but it surely offers you in depth details about your revenue. It offers you a graph exhibiting the development of your revenue over no matter time interval you need. By default it reveals the final 6 months.
The subsequent part on the revenue web page offers you a breakdown of your revenue classes, exhibiting what share of your revenue comes from a wage, how a lot from investments and financial savings, and the way a lot from different sources.
You’ll be able to set revenue trackers as nicely for the totally different classes of revenue, or for whole revenue. In case your revenue is variable and also you’re aiming to enhance your revenue, this generally is a good device to remain on prime of the way you’re doing.
Money owed
The Money owed web page offers you a “money owed development” graph on the prime of the web page, exhibiting how your debt balances are trending over time, and the way your balances examine to these of your friends or the nationwide common.
For instance, our solely debt is our mortgage. We will see that whereas our debt steadiness is $80,000 decrease than our friends usually, in our space our debt steadiness is definitely fairly a bit larger than common.
Decrease on the money owed web page there may be an rates of interest monitoring device. The device will have a look at the charges on your whole debt accounts and inform you how they examine to the charges that different folks have. Our mortgage charge is fairly low, and the device confirms that “The rate of interest you’re paying in your debt account is aggressive in contrast along with your friends. “
In case your charges aren’t that nice, the device will direct you to their “alternatives” web page the place you’ll find presents for loans with a decrease charge than your present ones.
Belongings
The property tab offers you a ten,000 foot view of your whole property, whether or not it’s money and financial savings, investments, properties, automobiles or different property.
Once more, you’ll be able to examine your property and holdings versus your friends, or different demographics.
The “Curiosity Charges” part will as soon as once more check out the charges in your financial savings and CD accounts to see for those who might be incomes extra in curiosity. It’s going to have a look at your investments and see for those who’re paying too many charges. If you’re lacking out, it can hyperlink you to the alternatives web page the place you’ll find some options.
Web Price
The “Web Price” web page will check out your total web price, your property minus your money owed.
It’s going to present you a development line for the way it has been trending not too long ago, and offers you some “good to know” tidbits telling you the way you stack up.
Credit score Profile
The “Credit score Profile” web page offers you a fast have a look at your credit score rating from TransUnion, inform you the place your credit score rating falls in relation to your friends, after which offers you an total view of what your total credit score scenario is.
What kinds of debt do you maintain? What number of open accounts do you’ve got? What’s your whole debt steadiness?
Alternatives To Save
On most of the pages from revenue to money owed to property, Standing offers you a hyperlink to a web page the place you’ll be able to view “alternatives to save lots of”.
The “Alternatives” web page can have every kind of financial savings alternatives. It’s going to have listings for auto insurance coverage, bank cards, house fairness loans, funding web sites and even decrease value cell phone suppliers.
The alternatives are all methods that you could lower your expenses versus your present selections. It also needs to be famous that many of those alternatives – whereas they might be good selections – are additionally paid listings that may earn cash for Standing. For instance, if somebody indicators up for a Fundrise funding account, whereas it could be an awesome possibility for you, Standing will seemingly be incomes a referral charge of some kind. It’s a technique they earn cash for his or her free to make use of web site.
So purchaser remember – that whereas there could also be some superb alternatives to save lots of in Standing, it could pay to go looking a bit extra outdoors of the device to seek out if it’s the best possible possibility.
The alternatives web page additionally has a ton of presents that carry a “reward” with them. For instance, for those who open a brand new Uncover bank card by way of their web page, you’ll get a $50 reward. Let’s look a bit nearer at rewards within the subsequent part.
Earn Money Rewards
You’ll be able to earn money rewards in your Standing account. How do you earn rewards?
- Refer your pals to Standing: In the event you refer a buddy to Standing along with your distinctive URL they usually join and hyperlink their credit score file to the positioning, you’ll get a $1 credit score.
- Discover golden reward badges and full their necessities: On the alternatives web page and elsewhere on the positioning you’ll discover rewards badges that may earn you credit score for signing up for third get together companies, getting quotes or offering an e mail handle. Every provide is totally different and has differing necessities. Make sure that to view every provide to seek out out what you have to do to finish the provide and earn the rewards.
One instance of a proposal on the positioning at the moment is for Mint Cellular, a service we suggest right here at Bible Cash Issues. They offers you a $10 reward for those who click on on Standing “Study Extra” button, after which full a purchase order inside that very same session. In the event you do this, inside 30-60 days the reward might be added to your account.
Standing will affirm that you’ve got fulfilled the necessities of every reward and you may monitor your reward’s progress on the “Rewards” web page in your menu. When you earn $10 in rewards you’ll be able to money out with a free ACH switch.
Once you be a part of the positioning by means of our hyperlink you’ll get a free $5 credit score to begin you off, and whenever you hyperlink your first account you’ll get one other greenback. Hyperlink your credit score file and also you’ll get one other greenback – for a complete of $7. Meaning you’ll solely want one other $3 in rewards to money out whenever you be a part of by means of our hyperlink.
Standing Cash Chrome Extension
In the event you add the Standing Cash chrome extension to your browser you’ll have entry to greater than 100 new rewards.
Use the extension whenever you store on-line to earn money rewards on related web sites.
You’ll get notifications when there are related presents or rewards for a given web site, and you may view and browse all out there presents by means of the extension as nicely. It’s simply a simple means to make more cash rewards with out having to do any further legwork.
Standing Cash Cellular Apps
The cellular app for Standing is an exquisite app, with a feel and appear similar to the web site. It’s out there on each iOS and Android.
Once you login to your app dashboard you’ll first see a “Your Highlights” part on the prime, supplying you with some insights into your cash scenario. Mine tells me that a few of our financial savings accounts might have higher charges if we switched banks, that we’re holding an excessive amount of cash in checking (we’re about to purchase a automotive with money proper now), and that we spent a bit greater than regular this month.
After the highlights you’ll get a abstract of your web price and the way you rank nationally.
After that you just’ll get an entire abstract of all of your trackers that you just’ve setup, after which a short have a look at every spending, revenue, debt, asset class. It’s going to additionally give an outline of your credit score profile.
All the things you’ll be able to see on the primary desktop web site can also be out there within the app.
Standing Cash Pricing
So how a lot does Standing value to make use of?
It’s FREE.
You’ll by no means must pay something to make use of the product, it is freed from cost.
How Does Standing Make Cash If The Account Is Free?
So how does Standing earn cash in the event that they don’t cost a subscription charge? Right here’s what they are saying of their FAQ:
Their adverts on the positioning and presents within the “Alternatives” web page are what pay the payments. So for those who just like the service, and wish to join with an alternate financial institution or cellular supplier, they’d admire it for those who did so by means of their hyperlink.
Is Standing Cash Protected And Safe? Is It A Rip-off?
How are you aware in case your information is protected with Standing Cash, and the way are you aware it’s not a rip-off?
From their FAQ:
Standing makes use of 256-bit encryption to guard your information, and your private data is stored personal. They’ll by no means promote your information.
Standing solely has learn entry to your linked monetary accounts. So the cash in your accounts might be protected even when your Standing account is ever compromised. Plus, nobody at Standing has entry to your account and financial institution credentials, and their servers are protected 24/7.
Abstract
I’ve used plenty of private finance apps, and web price trackers up to now few years. However none of them that I can recall do what Standing does, permitting me to check my monetary image to my friends, to nationwide averages and to these in my space.
Standing cash has given me a extra full image of simply the place I’m in relation to my friends in the case of my mortgage debt, my financial savings and investments and my web price.
It additionally helps me to observe my credit score file, and see how I’m doing there with a free credit score rating.
Having extra data is all the time higher than the choice, and I can see how utilizing Standing Cash might be extraordinarily helpful, particularly because the device is obtainable to customers freed from cost. I undoubtedly suggest giving it a attempt.