* This is a sponsored post that contains affiliate links.
With all of the mobile apps and online tools out there to help you manage your finances, there is a newcomer on the scene- Cinch Financial.
What is Cinch?
The creators refer to Cinch as “your personal, always-on, always-loyal CFO.”
Even though it’s still in beta, I can see why they say that. I had the pleasure of taking this service for a test drive, and I had a great experience! I’m excited to share my insights.
For those of you looking for a tool to help you get a handle on your debt and savings goals, or understand your term life and auto insurance options, among other things, Cinch is indeed an option worth considering. Not only because it can do the job of multiple apps and tools in one place but also because it makes everything so easy.
When I first opened up Cinch, I loved the simple user interface. The menus are minimal and clear. The form fields are easy to navigate and super responsive. I enjoyed the simplicity of the straightforward onboarding process. Here’s what stood out to me the most:
- Accuracy: After syncing the information from all of my accounts and cards, Cinch was able to aggregate all of the information accurately without any duplicates. Since it can automatically reconcile all of my financial information, it eliminates the risk of errors from manual input. Also, I totally didn’t feel like typing all of those numbers in so this was perfect!
- Aesthetics: When I think about anything fintech, I instantly think of beautifully colored graphs and charts. While Cinch certainly has those available for users, the main dashboard has illustrated images to represent the different financial categories like debt, savings, and cash flow. I personally really enjoyed the creativity and artistic flair! It may not be for everyone, but for me, it was much more attractive than pie charts. I think having both makes it more approachable for learners who aren’t fans of graphs and charts.
- Beginner friendly: Finance can be dry, boring and confusing. But, Cinch avoids all of the tricky jargon by keeping the language straightforward and super simple. You won’t need a dictionary to use this app! Even if you’re brand new to the personal finance world, Cinch is a great place to start.
- FAST! I have tried a few other apps, but Cinch is the fastest by far. In less than 10 minutes I was able to load all of my information into the app and get recommendations. The automation of this app makes getting started quick and easy.
- Clear, actionable steps: One thing that many people find challenging about managing personal finances is knowing where to start. It can be very overwhelming to look at a bunch of numbers and make an educated decision about how to proceed. Cinch takes the guesswork out of that by prioritizing their recommendations to help you reach your goals and stay on track.
What kind of information does Cinch collect from users?
As I mentioned earlier, Cinch collects bank account information and allows users to import transaction data for real-time updates on your progress and recommendations. Additionally, the app asks for the last four digits of your social security number to confirm your identity and access your credit report.
Who should use Cinch?
Cinch could be a nice match for anyone who is:
- Comfortable with technology and linking mobile apps to your bank account. Cinch is super user-friendly, so you don’t need to be tech savvy to get started. As long as you can gather your financial information and enter it into the form fields, you can use it!
- Uncertain where they stand financially and looking for an easy way to get some insight. Cinch quite literally makes it a cinch to get these answers at the speed of light!
- Disciplined enough to make decisions and stick to the plans you choose in the app. If you need more accountability, the app on its own may not be enough to get you where you’re trying to go.
Cinch wants to help YOU.
For those of you who have never heard of the word “fiduciary,” it’s a good one to know! What does it mean?
According to Google, fiduciary means “involving trust, especially with regard to the relationship between a trustee and a beneficiary.”
Anytime you see the word fiduciary floating around, know that the entity you’re working with has your best interests at heart. How does Cinch accomplish this?
- Always giving you options along with the information to make the best choice for you.
- There are no ads nor are other companies allowed to purchase the opportunity to be a suggested partner.
- Thoroughly researching and vetting the tools, strategies, and resources they recommend to their users.
Be sure to visit cinchfinancial.com to browse their website and learn more about Cinch!
Questions? Comments? Leave them down below!
*I received compensation in exchange for writing this review. Although this post is sponsored, all opinions are my own.