Credit union’s app improves budgeting skills

Small paychecks or irregular pay schedules can wreak havoc on workers’ budgets.

But an innovative app helps consumers maintain a balanced cash flow and avoid check cashers or short-term, high-interest loans.

The nonprofit Neighborhood Trust Financial Partners—which is associated with Neighborhood Trust Federal Credit Union, a $10 million asset community development credit union in New York—is piloting the PayGoal app, a virtual financial planner that allows users to take a proactive approach to their finances.

The app tracks users’ income and outstanding bills, making sure they set aside some money for upcoming expenses and don’t overspend.

“We’re seeing a lot of people we believe could get by with the right money moved around at the right time,” says Eric Cantor, PayGoal vice president of product development.

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