Status Money 2021 review • Pros, cons and more • Benzinga

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You’ve probably wondered how your emergency fund, debt level, progress towards financial milestones, and overall financial health compare to your peers. Unfortunately, you may rarely share this information, even with your close friends and family, which can make it difficult to assess whether you’ve set the right goals, like owning your own home or saving for your own. retirement.

Status money offers a unique money management platform that allows you to anonymously compare their finances to those of their peer group members, as well as additional investment and savings services. Benzinga’s Status Money review will help you learn more about what sets this app apart from the competition and help you decide if Status makes sense for your money management needs.

If you’ve used a budgeting or financial planning app before, you might already understand most of the services that Status Money offers. Some of our favorite services that Status Money currently offers include:

  • Financial comparisons: If you’ve just started saving for retirement or you’ve put money in an investment account for years, you’ve probably wondered how your holdings compare to savers your age. Status Money allows you to compare your saving, investing and spending habits anonymously with other users in your peer group and also compares it to national averages. The averages are always completely anonymous and the projections you see are happening through partnerships and panels with large financial institutions.

Wondering how your spending compares to people your age? Status Money allows you to anonymously compare your habits to national averages and spending by your peer group.

  • Social savings tools: You don’t have to be alone to plan for retirement, save for your first home, or pay off debt with Status Money. In addition to projection tools and tracking features, Status Money also offers social investing and savings features that allow you to connect anonymously with other platform users. Ask for tips and earn badges for participating in the community.

Status Money doesn’t just help you project your future net worth and plan ahead. You can also easily and anonymously ask for advice and help others with the platform’s Social Trading features.

  • Free credit score monitoring: Tracking your credit score remains an important part of balancing your finances and achieving your future financial goals. Status Money allows you to track your credit score for free and you can also activate alerts that notify you whenever a new item is added to your credit report.
  • Personalized recommendations and cash rewards: Status Money’s algorithms analyze your spending, interest rates, and fees you regularly pay on your accounts. The platform then recommends low-interest options to help you pay less for the cards and services you need. You’ll also earn cash rewards when you follow recommendations or when friends join the platform. You can claim as many rewards as you want just for saving and inviting friends to save.

Unlike some other budgeting apps, you don’t need to subscribe to a paid Status Money account to use the platform’s services. Status Money offers basic free features (including calculating net worth, credit monitoring, and social community features). The company makes money by providing you with sponsored offers, analyzing your spending and serving ads. For example, if Status Money has an advertising partnership with a credit card that offers lower interest rates for users like you, it offers you an ad for its partner card.

If you want to unlock advanced features of Status Money, you can also join Status Money Premium. Status Money Premium allows you to benefit from:

  • Advanced mapping: Status Money Premium accounts include advanced graphical options that allow you to better visualize spending and saving habits.
  • Individual coaching: Status Money Premium users can chat one-on-one with a financial planner once a month via video. It can help you stay on track to achieve the goals you set for yourself.
  • More customization features: Do you think your auto-generated peer group doesn’t exactly match your lifestyle? Premium users can further customize their peer group and comparison features.
  • Credit Report Updates: Premium users can access their full credit report on a weekly basis directly through their Status Money platform.

Status Money Premium costs $ 10 per month when you choose monthly billing and $ 96 per year when you choose a single annual payment. Premium subscription with an annual plan saves you 20%.

Status Money currently offers 1 method that you can use to get in touch with its customer service team – via email. To contact the Status Money customer service team by email, send a message detailing the issue to [email protected] For the fastest possible response, use the email account you used to sign up for your Status Money account.

We would like to see Status Money continue to expand its customer service options to include services such as live chat and phone support.

Status Money’s financial app mimics all of the office functionality. Track your investments, access social trading features and even manage your rewards with Status’s intuitive mobile interface. You can also enable two-factor authentication to secure your account when you access Status Money through public WiFi.

Status Money has taken steps to ensure that (even when using the mobile platform) your data remains secure. The app uses 256-bit encryption to keep data out of the hands of hackers, which is the highest level of convenient encryption that can be used for everyday use. It offers the same services as the desktop platform and a fully synchronized system so that you can switch from your computer to your mobile device seamlessly and securely at any time.

With a quick signup process, unique tools you can use to benchmark your finances against your peers, and a simple, straightforward platform that transfers easily to mobile, Status Money offers a great option if you want to better track your value. net and your budget. You can also access affordable one-on-one coaching and advanced services through Status Money for less than $ 10 per month with an annual plan. While we would love to see the company continue to expand their offerings and customer service options, Status Money remains a low cost option for fund managers.

Status Money vs Competitors

Status money offers a few unique advantages over its competition, including:

  • Financial comparisons: Status Money allows you to anonymously compare your finances with those of your peers to ensure you stay on track to achieve your goals.
  • Social investment features: Login anonymously, give and get advice, and earn badges throughout Status Money’s social investor community.
  • Affordable one-on-one sessions with financial planners: Some companies charge hundreds or even thousands of dollars to meet with a financial planner. With Status Money Premium, you can video chat with a certified financial planner once a month to help keep you on track to achieving your goals.

Frequently Asked Questions

Is Status Money available outside of the United States?

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Is Status Money available outside of the United States?

request

Sarah horvath

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No, you can only use Status Money in the United States.

answered

Benzinga

Do I have to link my credit report to use Status Money?

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Do I have to link my credit report to use Status Money?

request

Sarah horvath

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No, associating your credit report is optional and you do not need to link your bank account information to open your account with Status. However, the company recommends that you link this information for the best possible user experience.

answered

Benzinga



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