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How meticulous are you about saving your spare change? This app can help

(TECH NEWS) We all know that keeping track of pennies and nickels can get annoying so Cents has been created to help you save you some time and effort.

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Cents add up

Many people today are pretty careless with their change, often just sort of leaving it about until it somehow disappears. (My theory is that it goes to the same place that at least one sock always seems to go after being put into the dryer.)

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Those who keep some sort of a change bank, however, can likely attest to the value of saving your spare change. You might be surprised at how quickly it seems to add up.

Digital piggy bank

Life happens, as they say, and especially during those times when you’re scraping by on your last dollar, it’s always great to remember you’ve got an extra couple bucks stashed away. There’s a reason Coinstar machines are as prevalent as they are, after all.

For those that may be unaware, app developers and baking institutions have taken note of the value of spare change, in turn creating their own digital piggy banks. The most common shared feature among these apps and programs is the idea of “rounding up” debits.

Essentially, they round up debits to the nearest dollar amount, and place the change in a separate account.

Some, such as apps like Digit and Qapital, place the change into a savings account. Others, such as Acorn, invest the spare change in the stock market. Newest to the bunch is the aptly named app, Cents.

New app on the block

Much like the app Qoins, Cents rounds up the users’ purchases and places the change into an account that is then used to make payments toward the users’ pre-existing debt of choice.

Commenting on the similarities between the two apps, Lead Developer Robert Preston states that the “primary difference is in execution.

“From day one, we’ll support over 10,000 financial institutions that we can connect to and pull your data from including bank accounts, credit cards, student loans, auto loans and mortgages.” Further, he adds that they have “spent a lot of time perfecting the UX/UI of (our) onboarding process to make it smooth and quick to complete.” As such, he hopes that the vast number of institutions they are able to work with, as well as the ease of use and design of the app will give Cents the edge over its competitors.

One caveat

Full disclosure, I cannot vouch for any of that. I have tested neither Cents, nor Qoins. However, I can very much say that the idea has merit. Saving my spare change has saved my bum on several occasions.

And, like many, I am better acquainted with debt than I would like to be.

Pitting one’s spare change against the Hydra-esque monster that is debt may seem like an unfair fight. And, true, you will not pay off your school debts with the spare change saved from debit purchases alone. However, you may be surprised at the comparatively large chunk of debt that may begin to disappear overtime. Who knows- you may find that you are able to pay off that six-year loan in four years. And really, that’s still a completely valid win.

Battle of the apps

Again, I have tested neither of the apps, so I cannot honestly state which one I prefer. However, I can say that while Qoins is currently $1.99/month and Cents is $1/month.

So, if you’re really pinching pennies, there is that piece of information to help you decide.

#Cents

Andrew Clausen is a Staff Writer at The American Genius and when he's not deep diving into technology and business news for you, he is a poet, enjoys rock climbing, monster movies, and spending time with his notoriously naughty cat.

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2 Comments

2 Comments

  1. Robert Preston

    May 4, 2017 at 11:12 am

    Thanks for the article Andrew! We’ll drop you a line when you can test it out yourself.

  2. Pingback: Millennial women share about how they spend (and save) money - The American Genius

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Facebook Ads Manager unreliability keeps dumpster fire rep alive

(SOCIAL MEDIA) The Facebook Ads Manager isn’t exactly reliable, refunds aren’t offered, and social media practitioners hate the (still) necessary evil.

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If there is one thing upon which we can rely when it comes to Facebook, it’s disappointing us. Sure, it is clear that the platform has done amazing things to connect people from all over the world. It allows the sharing of passions, photos, ideas, lifestyles, and pointlessly hilarious memes. But we have all glimpsed the dark underbelly of the social media giant.

Facebook regularly shows us the ugliest side of ourselves. This is a topic that is covered ALL. THE. TIME. How many of us have expressed our regret that Auntie posted insensitive views with the same pride she shares her great-grandchild’s first touchdown in the junior divisional beauty pageant and peewee football game?

But the content created by users is not Facebook’s latest letdown.

Ad buyers are regularly unable to see the analytics of their campaigns. For example, on October 29th, a number of digital media professionals found the Facebook Ads Manager to be unresponsive for hours. This lapse in availability is devastating to those who purchase ad space. This was aggravated by the fact that many campaigns were time sensitive, as they focused on the midterm elections.

Further, online advertisers rely on instant feedback and data to inform their next decisions. Many have expressed that the October 29th outage is a fairly regular occurrence with Facebook and continues to make their jobs nightmares.

Additionally, refunds were not offered for the time advertisers had purchased and not been able to use.

This recent occurrence appears to be the longest shutdown of FB Ads Manager, contributing to the dumpster fire of a reputation Facebook ads have cultivated.

We continue to ask – how can such a wealthy and dominating platform not get this issue into check? Or is it part of a broader design to lower expectations and soak up money like an adult child living in their parent’s basement, with no end in sight?

Facebook continues to decline commenting on their unreliability. Perhaps they know that all the Baby Boomers and Gen Xers will continue to use, share, swoon, and offend regardless of internal issues, and that advertisers will not (for some time) be able to subsist without reaching these groups.

For now, it seems Facebook is still in the driver’s seat. Whether or not they know how to drive this dumpster on wheels is another matter.

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Silicon Valley created tech for your family that’s too addictive for theirs

(TECHNOLOGY) Tech inventors are big on innovating and advancing tools, but a growing parenting trend in tech circles seems hypocritical.

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I consider myself an older Millennial. I was slowly but surely introduced to technologies as they became mass-marketable, but they didn’t affect every moment of my day-to-day life. I learned how to use computers in elementary school, I chatted on AOL as a preteen, and when I was 16, my parents gave me my own cell phone “for emergencies.” I promptly dropped it under the car seat, where it remained for a year, before I or my parents even noticed that it was missing.

In less than a generation, our relationship to cell phones has transformed completely. For one thing, my first cell phone didn’t have a touchscreen. It didn’t have an internet connection. Hell, for an entire year, I didn’t even use the damn thing.

Fast forward to 2018, when your children can learn to use an iPad at the same time that they learn to use a toilet.

Interestingly, the tech whizzes who designed much of the technology that now pervades nearly every moment of our lives seem wariest of the negative impact screen time might have on kids. The NYT reports that the trend amongst Silicon Valley parents is to severely limit or even ban cell phone use by their children.

Parents in all echelons of the tech industry are limiting their kids’ exposure. Steve Jobs kept iPads out of the hands of his young children. The Gates offspring didn’t receive cell phones until high school (just like me, in 2001), and Tim Cook discourages his nephew from using social networks.

These concerned parents describe the addictive potential and negative consequences of screen time in increasingly pessimistic terms.

Athena Chavarria, a former Facebook employee, believes that “the devil lives in our phones and is wreaking havoc on our children.”

Chris Anderson (yes that Chris Anderson), former editor of Wired and founder of GeekDad, says that when it comes to screens, “On a scale between candy and crack cocaine, it’s closer to crack cocaine.”

Parents are even making contractual agreements to make sure their kids don’t use screens while under the supervision of their nanny or babysitter.

Like basically every human idea or invention ever, connected, screened devices reveal that our ability to create new technologies far outpaces our ability to understand the consequences – positive or negative – of that tech.

Those closest to the situation – the inventors themselves – are often the first ones to sound the alarm when they realize that their hard-won advancements may not have been such a great idea after all.

Said Chris Anderson of the addictive nature of cell phones, “We thought we could control it. And this is beyond our power to control.”

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Why entrepreneurs are flocking to the pet technology space

(TECH) Pet technology is a burgeoning, $70B industry, but what makes it so attractive to entrepreneurs aside from kittens and puppers?

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According to science and/or math, the internet is fueled by pet pictures. We all love pictures of animals, but more than that, we love our actual tangible animals, and as a culture, we’ve used social media to do more than share – we’re all learning from each other about best practices and products.

We’ve noticed that the pet technology space is figuratively blowing up right now, so we asked Greg Tariff, Founder and CEO of Fetch my Pet why the industry’s blossoming in such a way.

In his own words below, Tariff effectively explains why entrepreneurs are making their way into the $70 billion industry:

This growth is driven in part by millennial consumers: about 75% in their 30s own a dog and about 50% own a cat—and 44% see their pets as “starter children.” In other words, millennials not only own more pets than any other generation, but offer a better standard of care and are changing the pet business landscape with their buying habits. Millennials think of pets as family.

It’s a great time for entrepreneurs to be making their way into the pet technology space. Studies show consumers are willing to pay more for higher quality food and pet products, and they are ready to engage in experiences with their pets. Now it’s up to pet brands to connect with these pet owners on a deeper level, and I believe technology can bridge that gap. Here’s how technology is improving pet ownership thanks to a number of new innovations and a shift in consumer trends:

Humans can interact with pets remotely. Marketed as “digital daycare for pets,” technology like PetChatz lets pet parents interact with their pets from outside of the home. The need for this type of technology is driven in part by our view of pets. We no longer see pets as owned objects, but rather members of our family. How we classify pets has a ripple effect on the pet ownership experience. Consumers are more willing to pay for high quality products and services, and businesses will have to offer the highest-quality experiences to retain customers. Plus there’s a market for technology like PetChatz that allows us to interact with our pets from a distance in real time.

Making pet life management simple for pet parents. Worldwide online sales of pet food increased from 6 to 14 percent in 2016, with sales of dog and cat food rising at least 14% in the U.S. alone. It’s very easy for pet owners to click to order food, find places to walk and play with their pets, and connect with other pet owners. For example, Fetch my Pet is learning about customers and their pet needs to make more contextual suggestions. If you have an 7-year-old Golden Retriever, your technology shouldn’t tell you to buy puppy food or puppy Chew toys. As pet life management technology continues to advance, the pet ownership experience will become more personalized and intuitive.

Artificial Intelligence enables predictive fulfillment. As more data is collected on pets and their habits via makers of the products and services consumed by pet parents, we will soon have the ability to embark on preventative pet healthcare and predictive fulfilment of products and services for our pets. What if Petco sent you a notification once they had a new sustainable dog food in stock because they knew you were low on kibble? We’re inching close to this reality.

Paving the way for brand and ingredient integrity. The more innovation that occurs in the pet space, the more selective consumers can be about what they purchase and why. We care very deeply about what we feed our pets. According to Purina, young adults are more likely than other groups to research foods when designing their pet’s diet, and they like to have options that include natural ingredients and real meat.

Companies like BareItAll Petfoods are taking food-sourcing one step further by selling food products made from Asian Carp, which threaten to harm waterways including the Great Lakes. Businesses are doing their part to get smarter about ingredient integrity – and consumers are being more selective.

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