Have you heard of “mystery money?" It’s the cash you can’t quite remember spending. Maybe you bought several lattes at Café Umbria and then had a few beers at Migration, but you didn’t realize how quickly it all adds up. According to a PSU personal finance professor I interviewed for a story recently, the average person can’t keep track of about $150 a month. Well, a local startup called Simple may help change that.
The online and on-your-phone financial service makes your spending easily searchable, but that's not the only feature. After all, the company is called “Simple” because it’s supposed to be a (gasp) straight-forward banking service with (gasp again) fewer fees. It seems promising and has even gotten national attention.
I have an interview scheduled with the founder later today (Thursday) and will feature Simple in a KATU News story at 5pm. I can’t wait to see if this is really the bank of the future and learn about the people making it happen right here in Portland.