Qube Money - a bank and a budgeting tool in one app

Qube Money is the new way one can use the services of the bank with the value add of having one’s finances managed well

- Mohan

Qube Money is a fintech startup in the US with an app at its core that combines the functionalities of a bank and a controlling system on spending and avoiding debt. It employs the concept of an envelope budgeting system where one can cash out his income and separate the money into different budget categories. Some money can be earmarked for longterm envelopes like buying a house or a vacation, and other money for fast-spending envelopes like medicare, educational expenses, or groceries or restaurants. The unique thing about the app is that it combines a digital cash envelope budgeting method with a full banking suite. Budgets are digitized as ‘Qubes’ and consumers can set limits under different Qube budgets, like for example buying groceries or procuring clothes or entertainment. There is a physical Qube Money debit card that gives customers access to their pre-budgeted Qube funds.

FREEING FROM TYRANNY OF MONEY

Qube Money claims its mission is to ‘free people from the tyranny of money by breaking the paycheck-to-paycheck cycle and eliminating personal debt’. At present it is available to qualifying customers in the U.S. The Qube’s premise is simple: It turns the envelope budgeting method digital and layers it on top of the consumer’s bank account for a seamless digital budgeting.