GREENSBORO, N.C. - The Wyndham is all about competition, are you better than the next golfer. We can all relate as we all compare and track progress. The best example of this is fitness trackers like the fitbit. There's an estimated 19 million fitbit users out there, and that doesn't even take into account the other makes and models. So what about using that kind of thinking for your money and your saving?
Check out what certified financial planner Matt Logan found.
“It's kinda fit bit for your money. you can compete against friends, it's a neat concept that uses the award system and it's trying to incentivize you into good money habits,” Logan said about HelloWallet.
HelloWallet gives you a wellness score that pits you against your peers, so you have that number looking at you. But it also gives insights into what bank fees you've paid, where you spend the most money, and which category you spend the majority of your money.
Next up: an app called stickK.
“If you don’t stick to your goal, you were penalized. the penalty was pretty high. it actually takes money out of your account and sends it to a charity you don't support as an incentive to stick to your goals. It's a little aggressive but if you need real hardline motivation, that might be the one for you,” Logan said.
And don’t forget money apps for the kids. PiggyBot is for kids 6 to 8. It simulates getting an allowance.
“Money is an abstract concept for kids, so making it into a game is a way to teach financial literacy,” Logan said.
Logan’s top pick is Greenstreets. This is more like a video game that allows kids to earn money by planting a garden or by tossing items in a treehouse using a catapult.
“They think money grows in mommy's or daddy's wallet. so budgeting is not an easy concept to teach. They just want stuff and this allows them to think it out and put it to a game is a neat way to do it,” Logan said.