GREENSBORO, NC -- When you look at someone, maybe you notice their new car, designer purse, jewelry. It would appear their life, or at least their finances, may be in better shape than yours.
“People don't walk around with their balance sheet tattooed on their forehead. And it's normal for all of us to assume that everyone else has no debt, “ says Certified Financial Planner Matt Logan. “You don't know if they go home and eat Ramen every night or have debt up to their eyeballs. You don't.”
But you can. Logan says you can now share your money story. I mean you share what you ate for dinner, where you went on vacation or your latest Pinterest accomplishment, so why not?
“There are apps that will allow you to share your financial information anonymously and compete against others in savings and things like that.”
Status Money is one of those apps. Investor Junkie reviewed it and gave it an 8 out of 10, scoring it high in ease of use, customer service and cost (it’s free!).
How can you benefit? Knowing whether you're getting the same interest rate as others with the same credit score or average rent for your city. Not to mention how you compare on saving, spending and debt.