FinTech News
Personal Finance App Fruition Adds Zero-Based Budgeting Feature
A personal finance tool is bringing a new budgeting feature to its platform.
About Fruition and the New Feature:
This week, Fruition announced that it was adding a zero-based budget tool to its service. The new feature is now available to all Fruition members.
With this Budget tool, users can first link their accounts to get real-time transaction data and balance updates. From there, they can create a custom budget that allocates every dollar (hence zero-based). Members can also create an Auto Budget at Fruition, which will pull in three months of transaction data to generate a personalized budget.
Beyond this feature, Fruition offers a variety of other personal finance features to its members. These include a debt paydown tool, retirement calculator, and more. Plus, members can speak to a financial mentor for an additional fee, with 20-minute sessions available for $49 and 50-minute meetings available for $99.
Currently, Fruition offers subscriptions for $9.99 a month or $99 per year (when paid upfront).
What They’re Saying:
Discussing the concept behind zero-based budgeting and this feature, Fruition’s VP of Product Joshua Bauder explained, “Most budgeting tools tell you what you spent. Ours shows you how to spend with intention. By combining zero-based budgeting with AI-enhanced transaction accuracy, we’re delivering more than just an expense tracking experience for members, we’re illuminating possibilities.”
Meanwhile, the app’s VP of Growth Lauren FitzHugh noted, “Building a budget is about progress, not perfection. According to Federal Reserve data, only 51% of adults are spending less than their income. Naturally, financial futures feel uncertain and our Budget tool makes financial progress achievable.”
FitzHugh added, “Wherever you are on your financial journey, building a budget is a critical first stride to finding financial wellness.”
My Thoughts:
As I’ve stated before, since the death of Mint, it seems that there are several platforms competing to take the service’s place. You can now add Fruition to that list.
Turning to the new feature, while Fruition isn’t the first to offer zero-based budgeting support, this addition could clearly be useful for members. It also looks as though the app supports a variety of customization options, which is a big plus in my book. Additionally, I’m intrigued by the option to talk to a real person and get some advice for a one-time fee.
Overall, Fruition sounds like an intriguing personal finance tool — and one that I’ll need to check out for myself in the future.
Author
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