SpendPal

SpendPal is designed in collaboration with Dr. Dan Ariely’s world famous behavioral science lab, the Center for Advanced Hindsight (CAH), at Duke University. With the help of the CAH's team of researches and the lab's generous investment, we have designed SpendPal to leverage concepts such as choice architecture, mental framing and others to create a banking environment that helps people naturally make better decisions with their money. Here's how it works: Instead of viewing your money all lumped together in a single checking account, SpendPal shows the money you have on deposit, divided into Categories that are meaningful to you. When you open the SpendPal app on your phone and select a Category for spending, your next purchase is automatically deducted from that category as soon as you swipe your card. Backup Categories are one of SpendPals best features. Backup Categories are displayed directly below the Category you selected for spending and show you exactly what Category (or Categories) money will be stolen from if you overspend. For example, if you select your Clothing category and see you don't have enough money to buy a new pair of shoes, you might also see that if you buy the shoes anyway, the money to complete the purchase would be stolen from your daughter’s birthday category. Seeing something important you'd have to give up helps you avoid overspending on things you'd regret and helps you save more money for the things that really matter most to you.