After the confetti settles, many of us use the new year as an opportunity for some healthy personal reflection. How are we doing? What could we do a bit better? Resolutions, or Goals, are our answers to these questions.
For all of our good intentions, the fact remains: growth is hard. Bad habits are stubborn and making a change often requires spending or saving money. Whether you’re after classes to master a new skill, gear for the great outdoors, saving to put a down payment on a home, or building your safety net, we know that when money is involved, things can feel a few degrees more difficult.
That’s why we created Simple, to help our customers feel confident with their money. Goals can serve as a free self-accountability tool to help you reach those resolutions year-round. In fact, in 2015, our customers crushed 15 times as many Goals as in 2014. We’ve been blown away by their resolve to decrease financial baggage and make big dreams a reality.
To date, more than half of our customers have set a Goal. Rent/Mortgage, Savings, and Vacation continue to lead the pack. But what’s more exciting is the rate of savings. On average, Simple customers hold 35% of their account balance in Goals, which has helped them achieve a personal savings rate of 10%! You guys, this is a big deal! Why? Right now, the United States Personal Savings Rate is less than 5% and for people aged 25-38, it drops to -2%. Yep, that equates to debt and we’re all about swapping financial stress for confidence.
To kickoff the start of a new year and all the promise and optimism it holds, we’re taking a moment to step back and celebrate a few Simple customers who’ve used Goals to do some truly amazing things: crushing $24,000 in debt, rebuilding after bankruptcy, financing a new album, and orchestrating the world’s cutest proposal (get your tissues ready).
Check out their stories below!
Getting Out of Debt: Will P’s $24,000 Sprint
Good financial habits eluded Will until one day it clicked in a huge way: he used Goals to pay off $24,000 of debt in nine months.
Making the Best of a Worst Case Scenario
In the wake of declaring bankruptcy, Whitney used Goals to successfully budget, rebuild, and overcome a history of financial confusion.
Funding Her Second Album: Kait B’s Next Big Move
Kait aimed her saving strategies at a back-burnered dream and used Goals to fund her second album.
Gabe’s Adorable Theme Park Proposal
Gabe used Goals to save for the perfect ring and a professionally filmed wedding proposal, then tweeted us a heartwarming thanks.
It’s also been a big year for Simple: we’ve more than tripled our team to 287 and we’re supporting more than double our customers over last year. And good news, growth is stronger than ever! But what really pushes our resolve for the next year, is the success of our customers and the support of our community.
Thank you for being a part of it all, we wouldn’t be here without you and we can’t wait to see what 2016 has in store!
Cheers to a new year! -The Team at Simple
P.S. If you’re looking to get started with Goals, give this blog post a read or for something a bit more entertaining, immerse yourself in the below Goals tutorial for both financial and world domination.
Disclosure: Hey! Welcome to our disclaimer. Here’s what you need to know to safely consume this blog post: Any outbound links in this post will take you away from Simple.com, to external sites in the wilds of the internet; Neither Simple nor The Bancorp Bank, our partner bank, endorse any linked-to websites; We didn’t pay/barter with/bribe anyone to appear in this post. And as much as we wish we could control the cost of things, any prices in this article are just estimates. Actual prices are up to retailers, manufacturers, and other people who’ve been granted magical powers over digits and dollar signs.