Simple Introduces Goals

Simple Logo

Ian Collins:

My favorite way of describing Goals is comparing it to its antithesis: credit cards. Buying things on a credit card requires no thought or planning up front–you can swipe to your heart’s content. The planning part usually comes well after the money is already gone. This sort of reverse financial planning can be tricky, especially when it turns out you’ve spent more than you’ll earn before the payment is due. This, of course, is how credit card companies make their money–by charging you interest if you carry a balance. The items you purchase end up costing you more.

We wanted to turn that idea on its head. Credit cards can be discouraging. That’s why, in order to inspire and facilitate saving, we wanted to make something encouraging, something effortless and automatic. The tool should do the hard work for you and make saving so fun and easy you can’t help but do it. And of course, you’ll actually earn a bit in interest through our bank partner, too. Encouragement is why we built Goals to set aside money daily, as opposed to monthly, or per-paycheck. By saving gradually, you feel the financial pinch a lot less, and the success of saving a lot more.

In a rather aptly timed posting on its official blog, Simple has introduced its unique take upon the traditional matter of savings and personal goals.

Essentially, with Goals, Simple has taken much of the appeal of Mint, and applied it to an actionable state within the walls of its own service. Rather than developing impotent goals external to your bank account, Simple may now execute such goals in a typically attractive, delightful, and intelligent fashion.

For those still unconvinced by Simple, I would highly suggest reading through Mr. Collins’ posting in its entirety. Outlining this functionality — regardless of how basic it may seem — betrays the intense care the Simple staff hold for the prosperity and viability of their company. As a consumer, the transparency such rhetoric provides is of the utmost assurance, and further emphasizes the engorging rift between Simple and its traditional competitors.

Apologies for so frequently harping on about the service on each of my outlets, but I’m just stunned by how pleasant and affable the Simple experience is.

Banking with Simple

Simple Card

James Duncan Davidson:

For the last few weeks, I’ve been kicking Simple’s tires by doing the things you normally do with a Visa debit card. Buying stuff, getting cash at an ATM, paying bills online, and pushing money around between my other banks. Nothing earth shattering. In fact, it’s as boring as you’d expect it to be—at least until you see your transactions pop up almost instantaneously on the iPhone app or on the website where you can nicely categorize your spending in a modern and nicely designed UI made for easily staying on top of your cash flow. Sure, other banks have websites and iPhone apps, but Simple’s works the way a modern web app should.

Upon hearing of the BankSimple concept back in 2010, the service frankly sounded too good to be true. Tasked with dismantling the frustrations endemic to the contemporary banking experience, the notion of removing fees, lending principles of design to financial reports, and providing a definably positive experience appeared utterly bound by the ethereal clouds of vaporware.

And yet, about one month ago, I had the distinct pleasure of opening my BankSimple — now Simple — account. Out of the country and all-too-familiar with the excruciating process of transferring funds internationally, I reached out to the folks at Simple’s Support desk, via the delightful communication bar in the web interface, in the hope that the service may aid in this field. To my astonishment, Simple charged me nothing for an international wire transfer.

From this precipice, I’ve happily taken the plunge, and submerged my financials into the fledgling service. Of course, given its age and relative nascence, such a decision may be considered with a certain degree of skepticism. But, as many will know from reading this site or listening to Bionic, I’m irrevocably invested in the environment of innovation and change.

As my Chase Business account continues to incur repeated fees, Simple provides for a proverbial gust of welcome fresh air. In my experiences over the past few weeks, dealing with my financials has become — miraculously — an endeavor in enjoyment and pleasure, rather than a mired sty of confused depression. Such an experiential shift provides — for me — a priceless quantity of appreciation and admiration for Simple.

Subduing the negativity I associate with financials, Simple has provided some semblance of affability to the banking experience. With the service’s age in mind, that fact is enough to instill a great deal of hope and confidence in me as a consumer, and I find myself endlessly fascinated to watch Simple continue to progress into the future.

Accordingly, my intention is to move the vast majority of my dealings into the Simple environment. With few fees, easy money transfers (both domestic and international), and a great many other perks, I simply cannot think of a reason not to switch, particularly considering the promise of impending enhancements in the coming weeks and months.

For more information, visit Simple.