RIGHT is a financial technology platform that automates budgeting and spending management by preloading a daily spending allowance onto a debit card, helping users avoid overspending. The platform also tracks expenses, automates bill payments, and provides personalized meal planning, enabling families to save an average of $500 per month.
Funding
Funding not disclosed
Founders
Product
Problem
Many individuals and families struggle to maintain consistent budgeting practices, leading to overspending, difficulty in saving, and reliance on credit, ultimately hindering their long-term financial goals. Existing budgeting methods often require manual tracking and lack personalized insights, making it challenging to adhere to a budget effectively.
Solution
RIGHT is a fintech platform designed to automate budgeting and spending management through a daily spending allowance preloaded onto a debit card. The platform analyzes users' spending habits and income to generate a personalized budget, which includes scheduled bill payments, daily spending limits, and even meal planning with grocery lists. By automating these processes and providing a clear view of upcoming expenses, RIGHT aims to help users avoid overspending, eliminate late fees, and achieve their savings goals. The system also categorizes expenses, tracks spending patterns, and identifies potential savings opportunities, such as unused subscriptions.
Target Audience
RIGHT primarily targets individuals and families who want to gain better control of their finances, reduce overspending, and achieve their savings goals through automated budgeting and personalized financial insights.
Features
- Daily spending allowance automatically loaded onto a RIGHT debit card to prevent overspending.
- Automated bill payment to avoid late fees and interest charges.
- Personalized meal planning with grocery lists to reduce food costs.
- Spending categorization and tracking to identify spending patterns and areas for improvement.
- Integration with bank accounts and credit cards for a comprehensive financial overview.
- Proactive alerts and notifications for transactions and budget management.
- Family accounts to manage finances for children and promote financial literacy.
- FDIC/CDIC insurance up to $250,000 per account.