Cinch Financial. All opinions are 100% my own.
Have you heard of Cinch? You may remember them from when I first talked about them back in 2015.
Well, they recently asked me to review their updated platform. Their offering has changed a bit, and it’s now better than ever.
Here are some quick testimonials for this app before I explain to you what exactly it is that they do now:
“I like how it acts like a personal financial advisor. It allows you one less thing to worry about, and takes the stress of managing your money out of your hands.”
“My initial reaction was: ‘Man, I need this in my life!'”
“I like that Cinch is actually different. I love that you don’t take money from vendors.”
“It makes so much sense that it’s almost hard to believe something like this isn’t already out on the open market.”
Cinch can help you to manage your money better, all from your cell phone. They operate as a fiduciary, which means they are completely unbiased and actually are thinking only about you and your financial situation.
The one thing that I love about Cinch is that this tool actually does something for you and is helpful. Cinch doesn’t just show you charts and graphs of how much you spend in different categories. Nope, it goes way further than that to help you improve your financial situation!
Cinch spends time providing actionable guidance that actually has an impact so that you can improve your financial situation and actually start saving more money.
They don’t believe that simply cutting out coffees from Starbucks is the secret to financial success and saving millions of dollars. Cinch believes that having specialized advice for YOU, and a dedicated expert looking out for your best interests and regularly analyzing your financial behaviors is important.
Cinch uses crazy innovative technology and behavioral science to help you to improve your financial situation. This tool will help you with how much money you should save each month, how you should eliminate your credit card debt, and more.
The Cinch Service
As you can see from these simple financial health checks that Cinch does in the screenshots above, they make it very easy to see how much debt you have, your credit score rating category, your spending flow, how your rainy day fund is going, and more.
I really like how comprehensive Cinch is. You can see your whole financial picture all in one spot. Instead, of logging into numerous apps to check how you are doing, Cinch makes it super easy.
Some of the areas that Cinch can help you with include:
Managing your student loan debt;
Analyzing your spending behavior;
Starting spending challenges;
Building an emergency fund;
Eliminating your credit card debt
Some features that they are working on adding to their platform includes helping with a mortgage purchase, health insurance, expense allocations, household/joint financial management (yes, it will help you manage finances with a significant other!), and more.
And, if it doesn’t get any better, Cinch has been featured in The New York Times, Forbes, CNBC, Money, and more.
It’s easy to improve your financial situation with Cinch.
This screenshot (below) I took off their website is something I absolutely love. So many people are fine with spending money in so many other areas and have apps on their cell phone for everything out there, but don’t think enough about their financial situation.
A tool like Cinch can help you to start working on your financial situation and it’s EASY.
How does Cinch make money?
Okay, after reading all of the above, I am sure you are wondering what the catch is when it comes to Cinch.
Cinch isn’t paid by banks, credit card companies, leads, insurance companies, etc. There are no ads and your data won’t be sold. Instead, Cinch has 90-day free trial before charging a $4.99 monthly fee.
So, yes, they do have a monthly fee. However, if you are looking to start improving your financial situation, I’m sure that you could save much more than $4.99 by having a Cinch account each month.
I am a huge fan of the fact that they are not biased. There are so many companies that I am signed up for that are only pushing products toward customers – they don’t seem very interested in actually helping solve problems. That’s what is different about Cinch – they want to help you improve your financial life; holistically and comprehensively.
How can you get started with Cinch?
You can get started with Cinch by following these easy steps:
They are currently in Beta testing. But, you can sign up for the waitlist to access it as soon as possible.
After you are accepted, you will need to link your information with Cinch.
Understand your financial situation. With Cinch, you’ll be able to save more money!
Yes, it’s that easy to get started with Cinch!
What do you think about Cinch? What feature of Cinch do you find the most helpful?