Top-rated PrismMoney bill pay app simplifies mobile budgeting and bill pay
Did you know that 2/3 of U.S. households have less than $1,000 in the bank and live paycheck to paycheck while averaging 11 bills due per month? Or that, according to Bankrate.com, about 62% of Americans lack emergency savings, with the majority saying they don’t have money for things like a $1,000 emergency room visit or a $500 car repair. Yikes!
To the rescue comes PrismMoney, the free bill pay and budget app that gives consumers a single platform to track finances, manage money and/or pay all of their bills from their mobile device. Prism is available as an iOS, Android, Windows and Kindle app as a free download.
Bill paying should be simple and intuitive, but balancing paychecks and bills is the most frustrating challenges consumers face. Americans spend more than $22 billion a year on credit card penalties, and more than $32 billion a year on overdraft fees!
PrismMoney believes that most of those fees are accidental or could be dramatically reduced if people had a better handle on what fees they were facing and at what time. By completely eliminating the complex arithmetic of payments, Prism delivers a personal finance/bill pay experience unlike any offered today by banks and other bill payment tools.
PrismMoney works on top of traditional banking and billing interfaces, seamlessly consolidating bank accounts, credit cards, billers and paydays into a single and holistic bill payment interface. Rather than using a third party to process payments, Prism works directly through the biller’s web site. This insures that the biller credits the account for payment almost instantly and provides a completely intuitive experience for the consumer.
For example, the PrismMoney user interface makes it instantly obvious how much each bill represents relative to the others due and relative to your paycheck. One look at the Prism home screen and users can see the entirety of their monthly bills and how each bill fits into their budget and income.
Drag and drop sliders automatically calculate how much income would be taken up by any bills recently paid. Users can also track paydays to better synchronize with bill payment due dates; a new tap function enables users to view instant status on individual billers and users can also see how paying individual bills late/early will affect income and budget, before they actually start paying bills. To pay more or less on a given bill, users drag a slider which then visually approximates the amount/effect on the entire monthly budget.