Budgeting Apps: Qube Money Review [Digital Envelope System] 💵

hey there Tiffany Thomas with the
wealthy Tiffany dot com and in today’s video we’re going to be talking about a
budgeting app called cube money and before we dive in if you guys are ready
for financial freedom right now comment freedom below in the comments or give me
some other comment to help out the YouTube algorithm so we can get this
video out to more people and before we dive in you guys I’m working on a new
background so tell me in the comments if you like it or if you don’t like it and
I’ll probably be making minor changes here and there but this is kind of my
new setup alright let’s dive in and talk about budgeting because I know a lot of
people struggle with budgeting they have a hard time keeping their budget up to
date or even setting up a budget so if you find it hard to stick to a budget
you are not alone because less than half of Americans actually have a budget and
nearly 40% of Millennials have gone into debt because they didn’t have the money
needed to buy something but they bought it anyway so you are definitely not
alone if you struggle with budgeting or managing your money and by the end of
the video what we are going to hopefully have a solution for you that will be
really beneficial to you we want to budget so we can actually reach our
money goals that we are setting hopefully we’re setting money goes but
budgeting will help us with that so you know we can take a trip to Italy or
Hawaii or you can buy that car that you’ve been wanting to purchase a whole
bunch of different things but if we aren’t really budgeting our money then
we aren’t going to be able to reach those things and we’ll continue to
overspend and continue to accumulate debt which is not good because we want
to you know eventually retire or become financially free to have that option to
retire if we wanted to so we could spend all of our days in Hawaii or traveling
the world or maybe just spending more time with family there’s quite a few
different apps out there that claim to help you budget and some of them have
really good benefits and there’s even you know a couple that I use like
mint.com or personal capital com but there’s quite a few difference
between those apps that are out there right now versus the cube money app so
that’s why I wanted to talk about this application and it used to be called
proactive budgeting I think it’s what it was and you can tell why they changed
the name because when you hear proactive at least when I hear proactive I think
of the acne medicine proactive anyway it’s now called cube money and I just
wanted to explain how it works and some benefits that they have essentially the
cube money app is a digital money envelope system with the traditional
envelope system you have a number of envelopes that you set up and you think
of each category that you would need to spend money on so for example you’re
gonna need to make a car payment or rent or insurance or your phone bill all
different things like that and you would set up all of these
different envelopes and we would figure out what your budget amount is and you
would put that amount in cash into each envelope and then you would only spend
the cash that you have in each envelope for each category so if you had a
clothing envelope and you spent you know maybe you had a budget of $100 and you
spent $90 on your clothing budget and you want to buy a pair of shoes for $30
you wouldn’t have enough money in your envelope so ideally you would put those
shoes back and not purchase them because you wouldn’t have enough cash in that
envelope but you may find yourself transferring some cash to over to that
envelope from a different envelope that you haven’t used yet and while this is a
good system for some people a lot of people don’t really want to carry around
that cash all the time I know I don’t want to have that much cash on me and
it’s kind of easy to switch that cash over to something else or not really pay
attention to what which envelope you’re taking the cash out of and so with cue
money they’ve made a digital envelope system and this way you can just
download their app onto your phone so you would link your bank account to it
and you would a different number of cubes or
categories for each of your budgeting amounts and this way it is digital so
you’re not carrying around all of that cash but when you go to make a purchase
you open the app and you can see exactly how much money you have in each category
so if you you know had those shoes that you wanted to buy and you already spent
ninety dollars in your clothing budget and they’re $30 so you only have ten
dollars left so you’d be short twenty dollars you pull out the app and you can
see Wow you know what I don’t have enough for these shoes and I feel like
it would be easier to kind of put those back rather than if I was to have the
cash then I would just pull that cash out of my purse and be like okay well I
can just take that from my grocery budget and purchase these shoes but with
the app you actually have to UM you know pull up your app and it’s not just cash
right in your hand you would have to go in and switch over a certain amount from
a different category to that clothing budget and then you could be able to
purchase those shoes if you wanted to but it kind of puts that barrier so you
can you know hopefully see ok maybe these shoes aren’t that important and I
really need to stay on track with what I have budgeted for but if you did have
enough to purchase those shoes then you can just pull up your app and you can
see okay yeah I have enough in there and select that this purchase is going
toward that category and then what they do is they give you a card like a debit
card and you would just swipe the card and make your purchase so it is nice
because you would just have one card that you would be using for all of your
different categories everything that you’re spending money on and you’re not
carrying around all of that cash and unlike the other budgeting apps that are
out there this one actually stops you from spending the money from
overspending because with the other apps you’re kind of looking at it when the
purchases have already happened and you’re analyzing it after you have spent
the money but with cute bunny you have that up to date right there
and you have to select the category that you want to be spending from and it’s on
your phone it’s just in that app and so you can see exactly where you’re at with
your money and it really reduces that anxiety at the end of the month thinking
you’re gonna be running out of money because you know exactly what you’ve
spent and it helps to decrease that overspending because you have to select
the category that you’re making that purchase for and it will deduct right
out of that category also this works great because you can use it with your
spouse so they’ll give you two debit cards and you can have one for you one
for your spouse and then you can also include your kids on this if you want to
do the family plan and they can request to spend money in a certain category so
you can teach your kids about budgeting as well you can have goals set in there
and you can see you know how much you have and maybe your trip to Italy how
much you have in that fund and you can continue to add to that and instead of
buying a pair of shoes you can think no I really want to go to Italy and focus
on what’s really important to you instead of that instant gratification
all right what I can see from this app is that it can be super helpful if you
struggle to budget or even set up a budget or struggle budgeting with your
spouse or even teaching your kids about money this can be really really helpful
because it stops you from overspending right away it’s not something you’re
looking at once you’ve already made purchases it’s a day-to-day thing where
you can constantly see it and see exactly how much you have in each
category and then you’re not overspending on your categories or even
overspending in general because you won’t have enough money in there and
they do have a cost for this app but think about how much money you’ve
actually overspent this past year and how much this app could save you and
maybe it’s not for you maybe you’re doing fine with your budgeting but if
you are struggling with overspending and you want something that could help you
then I think the price is totally worth it and plus it is just a lifetime
membership so you’re not paying a monthly fee or even a yearly fee it’s a
lifetime purchase so you purchase it once and you have it for a lifetime
which is awesome and right now they’re running a special 15% off for the
premium plan which will put you at 152 dollars or the family plan which will
put you at $212 so just over $200 and if you guys want to get an extra 25% off I
will leave my referral link below the video and you can use that and get 25%
off so if you’re interested feel free to use that link anything now is a great
time to set up your budget because we’re about to go into the new year so you can
really start the new year out right you can have all of your categories set up
all of your budget amounts and start working toward your money goals and it’s
kind of fun because it’s a local company it’s a Muta which is where I live
so I like supporting local companies as well if you guys found this video
helpful please hit the like button and share it with someone else who would
like to hear this information and please hit the subscribe button to subscribe to
my youtube channel that would really help me out and we can get this content
out to more people and just as a side note if you guys are looking to get some
free stocks wiebel is running a promotion right now
if you set up a brokerage account which is free you will get one free stock and
then if you deposit $100 into the account you’ll get a second free stock
valued up to $1,000 so I will leave my referral link below and you can sign up
for weevil with that link and get your two free stocks and you can purchase
another stock with that hundred dollars you deposited or do whatever you would
like with it thanks so much for watching and I will see you guys the next video you

2 thoughts on “Budgeting Apps: Qube Money Review [Digital Envelope System] 💵

  1. How does Qube work with writing checks? For example my rent only takes checks, the PTA and Child Care.
    Also is there a round up to keep the change on the purchases? Is there a savings and what is the APR?
    They want us to pre pay for this but they're still not giving all the details. What if your spouse takes the main bank card and uses it instead of the cube card?

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