Absolute vs. Relative Standard of Living: What is Enough?

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I’m currently reading University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting by Daniel Pecaut and Corey Wrenn. As opposed to a rehash of the BRK shareholder letters, it contains highlights from listening to Warren Buffett and Charlie Munger live during the shareholder meetings in Omaha, Nebraska from 1986-2015. (The equivalent of a live Beyonce or Springsteen concert for investing geeks.)

I’ve always appreciated that Buffett and Munger are very rational and practical people, and one theme that I picked up from this book was the concept of absolute vs. relative standard of living.

What is enough? You’ve probably heard some variant of the phrase “live like a college student” when talking about how to save money. I certainly used this tactic successfully for many years, and Buffett explains why it makes sense:

Buffett contended that the average college student has the same standard of living as he does. Same food. No important difference in clothes, cars, TVs. After you have enough for daily life, all that matters is your health and those you love. Likewise in work, what really matters is that you enjoy it and the people with which you work. Munger concluded humorously, “What good is health? You can’t buy money with it.”

Ask yourself: Does this make me healthier? Does this let me spend more time with the people I love? Does it give me valuable knowledge? Think about how a large portion of the luxury world exists without actually improving your quality of life: luxury cars, designer clothing, fancy purses, fancy watches.

Stop comparing yourself to others. Buffett reminds us that envy is the worst among the seven deadly sins. You feel miserable with no upside at all. (The rest are gluttony, greed, lust, sloth, wrath, and pride.)

If someone else is getting rich, so what? Someone else will always be doing better. He asserted that the notion that an investor or investment manager should be “required” to beat everyone else is nonsense. The real key is to know what you really want to avoid and give those things a wide berth (such as a bad marriage, an early death, and so on). Do this and life will go much better, he advised.

I think this concept is under-appreciated in the investment world. You manage to lose a little less money than a benchmark and you still “win”? Think about the people who have quietly gotten rich with rental properties. They don’t worry about benchmarks, they just make sure the rent checks come in and the building is maintained. When they can, they buy another property. Over the long run, it works out just fine. You could do something similar by regularly buying a Vanguard Target Retirement Fund, Vanguard Balanced Fund, or even Vanguard Wellington Fund.

Money vs. Quality of Life. Make no doubt about it, Buffett enjoys having a lot of money. I imagine he treats it like a video game with dollars instead of points. However, he separates money and quality of life. That’s what has let him decide to give almost all of it away to charity. He’s donated over $27 billion already, with a total amount that could be over $100 billion (depending on the future value of Berkshire stock):

Buffett added that as far as he’s concerned, he hasn’t given up anything. He hasn’t changed his life. He couldn’t eat any better or sleep any better, so he really hasn’t given up anything. Someone giving up a trip to Disneyland to make a donation is the one making a real sacrifice.

These simple quotes can provide a basic outline for early retirement. First, try your best to stop comparing yourself to others, as that’s a game you’ll never win. Besides, if you act and spend like everyone else, then you’ll be working as long as everyone else. Next, decide what kind of daily lifestyle is “enough”. Does that require spending $30k a year? $50k a year? $80k a year? Now work to save 25 times that amount. $30k a year = $750,000. $50k a year = $1.25 million. (You might want to revisit the “enough” question after doing this multiplication…) That’s a nice rough number. Now work on the income side of the equation while keeping your spending side in check. In the meantime, enjoy your awesome quality of life. Appreciate the good stuff like nourishing food, hot showers, comfortable beds, nature, air conditioning, friends, and family.

The Intangible Benefits of Saving Money: Flexibility and Robustness

tardisNeed a break from the charts? Morgan Housel has an insightful article Let Me Convince You To Save Money that includes no historical data, no survey results, no fancy infographics. Read the whole thing, but here’s my favorite excerpt:

But the best reason to save is to gain control over your time. Everyone knows the tangible stuff money buys. The intangible stuff is harder to wrap your head around, but can be far more valuable and able to increase your happiness. Savings gives you options and flexibility, the ability to wait and the opportunity to pounce. It gives you time to think. Every bit of savings is like taking a point in the future that would have been owned by someone else and giving it back to yourself.

In my experience, every incremental bit of savings changes your life in intangible ways. Going from paycheck-to-paycheck to having $1,500 in the bank lets many things become minor speed-bumps instead of derailing your life. It’ll also make you happier according to (sorry!) the research: Does Cash Make You Happier Than Income or Paying Down Debt?

Continuing onward, going from having a basic emergency fund to $10,000 gives you the ability to take career risks without fear of starvation. You feel like you can put your full effort into a new business, or take a different job with less stress. I personally made a life-changing career switch at about $50,000 net worth.

Finally, going from $10,000 to $100,000 is amazing because that’s when you realize that reaching financial independence is a matter of WHEN, not IF. It’s a sign that you’ve put in the dirty work and figured out the hard bits. To put it crudely, “The first $100,000 is a b****.”

In biology, the term robustness refers to the “persistence of a system under perturbations or conditions of uncertainty”. In computer science, robustness is the ability to “cope with errors during execution and cope with erroneous input”.

In today’s world of questionable safety nets, having adequate savings improves the robustness of your family’s lifestyle. First, you can endure an expected car repair. Then you can endure a temporary blip without a job. Finally, you can go without a job whenever you wish (aka retirement). Your savings rate fuels all of that.

Who Maxes Out Their 401k, And Where Do They Make Sacrifices?

piggybank_plainThe Principal Financial Group surveyed “younger” retirement plan participants ages 23-51 who contributed at least 90% of the annual 401(k) maximum limit. That means they put away at least $16,200 each (limit was $18,000 for 2016/2017). These “young super savers” made savings a high priority, so they were asked about the areas in which they made sacrifices. Here are some of the top answers:

  • Cars. 47% of “super savers” drive older vehicles in order to help maximize retirement savings.
  • Housing. 45% of “super savers” choose to live in modest homes to boost savings. 18% of millennial supersavers are renting.
  • Vacations. 42% are opting to travel less than they would prefer.
  • Work. 40% say they put up with work-related stress. 27% put in extra hours instead of spending time with friends and family.

In a separate survey, Vanguard found that overall 10% of plan participants contributed the full maximum to their 401ks. (Note that “plan participants” means people offered a Vanguard 401k option that then also chose to participate.) Here’s how these 401k “super savers” broke down by income and age:

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If you make a modest income and max out your 401(k), you are definitely doing something differently. Roughly 95% of people who make less than $100k aren’t maxing out their 401(k).

The Incredible Shrinking Cell Phone Bill

iphonepixel200If you wanted to shave $1,000 a year off your housing expenses, you’d have to move or at least refinance a mortgage. That takes a pile of paperwork and lots of time. Meanwhile, with a few clicks on a website and a SIM swap, many people on a major carrier plan can easily save $1,000 on their annual cell phone bill. I just transfered my service to Sprint’s Free Year of Unlimited promotion (extended to 7/30) and my new bill is $3 a month per line including all taxes and fees. Took maybe 15 minutes of my time.

The average cell phone bill has dropped by over 12% from a year ago. If you haven’t shopped around in a while, you might be missing out on big savings. The WSJ article The New Sticker Shock: Plunging Cellphone Bills (paywall?) shows us how cell phone bills are dropping across the board:

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Verizon, AT&T, and Sprint have all been losing net customers this year. Most went to either T-Mobile or various MVNO/prepaid providers which can provide 95%+ of the coverage at a fraction of the cost. (MVNOs don’t have the same roaming agreements as a postpaid major carrier.) Sprint was both a smaller competitor and losing customers, so apparently they felt they had to do something drastic.

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I expect to switch to either T-Mobile or an MVNO after my year is up, unless Sprint can come up with another deal.

Chart: Amazon Prime vs. Cable TV Subscribers

If you’re wondering why Amazon is pushing Prime membership so hard, check out this chart from Recode:

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Within the next year or two, there will be more Amazon Prime members than cable TV subscribers. There is already roughly the same number of Costco memberships as Prime memberships. People may not sign-up for Prime solely for the video streaming, but I do still get value out of that feature (primarily for the kid’s videos, especially now that you can download them for the airplane and road trips). Amazon Prime Video is good enough for my needs that I don’t pay for Netflix.

Digit Review: “You Won’t Even Notice” Automated Savings Account

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Update April 2017. Digit is now a paid service. After a 100-day free trial, Digit will charge a $2.99 monthly subscription. If you are a current user, you also get another 100 days free but after that they will start taking $2.99 out of your linked checking account automatically. If you don’t want this to happen, you need to close your Digit account at this link. All your Digit balances will be moved back into your linked checking account.

I am disappointed Digit couldn’t make their business model work by simply earning interest off people’s savings balances. While some people criticized that aspect, I thought it was a fair trade-off. Although transparency is good in theory, my prediction is most people will balk at paying $3 a month. Digit has increased their Savings Bonus to 1% annualized (previously it was 0.20%). However, you can earn that at online banks elsewhere.

Updated full review:

Want to save more, but don’t want to actually think about it? Digit is a fintech start-up that combines a FDIC-insured savings account that want you to give it permission to tuck some of your own money away for you. There’s mindless eating, mindless spending, and now mindless saving.

How does it work? Instead of rounding up your card purchases or getting you to commit a regular savings schedule, Digit is like a helicopter parent sneaking into your wallet/purse and taking out money when it thinks you won’t notice. Okay, so it’s more about an algorithm that tracks your income and spending patterns… and then takes out money when it thinks you won’t notice. It keeps on depositing that money into a savings account until hopefully one day you have something substantial Here’s a slick video about it:

SMS Text-based interface. After you link up an existing checking account, ongoing interactions with Digit can be done almost completely by text message. If you prefer apps, Digit now has an iOS app that offers a little bit of extra polish to your normal text message program. I thought it might be redundant, but I actually prefer using the app now. A few screenshots:

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Free. $2.99 a month. Digit used to make money by keeping any interest that might be earned on your savings balance. As of April 11, 2017, they now offer a 100-day free trial and then will charge a $2.99 monthly subscription fee. The good news is that you now earn more interest, currently a 1% annual Savings Bonus (details below). They still promise not to sell your transaction data.

Minimum balance protection. I actually started using Digit a few months ago, but turned it off when I found out they didn’t (at the time) have a minimum balance protection feature. For example, you might have a bank account that requires a $1,000 minimum daily balance to avoid a $10 monthly fee. Digit used to have no way of knowing that, although they did promise to refund any overdraft fees. Now, you can set a minimum value that Digit will not allow your account to go below.

Savings Bonus. Essentially, Digit pays you interest on your balances with them including your Rainy Day balance and any Goalmojis. Every 3 months you will receive a Savings Bonus from Digit based on your average total balance over the previous 3 months. Currently Digit pays a annual 1% Savings bonus. So for example if your average balance was $4,000 over the last 3 months you would get a $10.00 savings bonus that quarter.

My personal experience. Every few days, random amount like $5.22 or $11.35 would be debited from my checking account. Honestly, for some who likes to be in control, having all those extra entries on my bank statements got to be a bit annoying. After a couple months though, I had over $300 saved up. Was this amount more than I would have saved anyway? Would I be better off with a formal budget? It’s hard to say. I can imagine some people really liking the feeling of “found money”, though.

Recap. Digit offers mindless automated saving, which is definitely a unique proposition. After a 100-day free trial, Digit will charge a $2.99 monthly subscription fee. You’ll have to balance that fee with their ability to save you money that you wouldn’t otherwise. You might prefer giving someone else the steering wheel. You might not. If previously-reviewed Qapital was “set-your-own-rules”, Digit is more “leave-it-up-to-the-robots”. You could even use both apps at the same time.

New Year’s Resolutions: Nudge Yourself Towards Success

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It’s now late January. According to “the internet”, over 30% of people have already failed at their New Year’s Resolution. Well, I say let’s have a do-over since I haven’t even got around to making mine yet. Jonathan Clements has an excellent post called Committed where he outlines some strategies to help improve our chances of success. I’ve re-worked them below according to my own tastes. In my view, all of them involve making failure painful and/or inconvenient (really the same thing, just different levels and frequencies of pain).

  • Tell everyone. Announce your resolution on Facebook, Instagram, or other widespread manner. Somebody (frenemy?) will likely follow-up. You’ll want to avoid the mild shame from lots of people you know sorta well.
  • Tell just one important person. Share your resolution and deadline with a person whose opinion you care about. You’ll want to avoid that acute shame from a close friend or relative.
  • Tell nobody, but bet money on it. You could set up a bet with a friend, or use a website like DietBet. You’ll want to avoid the financial pain from losing money.
  • Put hurdles between you and bad habits. Want to spend less? Use cash for everything. Institute a cooling-off period of 1 week for every $100 of cost. Cut up or freeze your credit cards in ice. Cancel any “bad” subscriptions, and make yourself pay for it manually each month. (Try Trim if you need some help canceling things.) Remove junk food from the house, so you’ll have to go out and buy it. Make it a hassle.
  • Make it automatic. Make “good” subscriptions. Set up (or increase) an automatic paycheck withdrawal for 401(k) and/or IRA retirement accounts. Set up an automatic transfer to your savings account. Sign up for a service like Digit. After the initial setup, the lazy thing is now the good thing.

You might use one, or you might use all of them, depending on your specific goal.

Photo credit: Angus and Phil comic by Annie Taylor-Lebel.

Qapital App Review: Rules-Based Automated Savings Account – Free $5 to Start

qapital0Before we let them take over the world, computers must first prove their worth by helping us become better savers and investors. Importantly, we humans have a horrible tendency to put off saving when we have to manually do it each and every time.

Fintech start-up Qapital intends to fix this by automatically setting aside money based on a customized selection of rules. At it’s core is a free, FDIC-insured savings account held at Wells Fargo with no minimum balance or monthly fees. They are also giving out five bucks to start (details below).

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Here are the current rules available:

  • Round-up Rule: Round up your purchases and save the difference every time you buy something. Ex. You can round to the nearest $1, $2, $3, $4, or $5.
  • Spend Less Rule: If you spend less than your target budget amount, then save the difference. Ex. Spend less than $15 at Starbucks during a week, then save the difference towards a goal.
  • Guilty Pleasure Rule: If you buy something you’re trying to resist, Qapital will automatically save some money for you. Ex. Save $10 every time you make a purchase at McDonald’s.
  • Set & Forget Rule: A traditional rule where you save a fixed amount daily, weekly, or once a month. Ex. Save $50 every week.
  • Apple Health Rule: If you hit your fitness target, Qapital will save towards your goal. Ex. Save $50 towards vacation goal every time you take 500 steps.
  • IFTTT Rules: Use the IFTTT service to trigger a money transfer.
  • Freelancer Rule: Every time you receive a large deposit, save 30% of it towards taxes.
  • 52 Week Rule: Save $1 the first week, $2 the second week, and so on for 52 weeks. (This adds up to $1,378 by the way!)

You must be 18 years old and link up an existing US-based checking account as the funding source. Trial deposits are used for verification using account and routing numbers. To prevent a million little transactions, withdrawals from your checking account to your Qapital account are only done twice a week. You can make move money back into your checking account at any time.

You can also add a credit card such as Citi, Chase, or American Express to trigger the rules, although you can’t use it as a funding source.

If Qapital is free, then how do they make money? They don’t charge any fees directly. They make money by keeping any interest that might be earned on your savings balance. Given that the top savings accounts pay roughly 1% APY, that means for every $100 in the account you’re losing out on $1 a year. They promise not to sell your transaction data.

Get $5 free to start. Right now, Qapital has a refer-a-friend promotion where a new user can get $5 if they are referred by a current user and open a new Qapital account with a least one deposit. Here is my special $5 referral link. Thanks if you use it!

Recap. Qapital is another iteration of “let me save for you” concept, previously seen in the “Keep the Change” program from Bank of America and the “round up to the nearest dollar” system from the Acorns app. Qapital differs in that they offer a wider variety of rule-based triggers, they are free while working with any credit card, and your only option is an FDIC-insured savings account (no stock investing). Overall it is a nice execution, although I predict that this idea will become more common across many different financial institutions over time (i.e. other people gonna copy it).

Setup is relatively easy and the user interface is good; I’ve set up a few rules for myself. I like that you can round up purchases into a simple savings account instead of the tax complexity of buying tiny bits of ETFs. There is no phone number, but there is in-app chat and e-mail support. My question was answered within an hour during their business hours. The app has worked fine so far while rounding up my purchases, but I’ll be interested to see if it keeps my attention several months from now.

More screenshots:

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Next up: Digit.

Nickel: Kid Allowance App + Debit Card + Set Your Own Custom Interest Rate

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If you’re reading this, you obviously value financial knowledge and creating a secure life for you and your family. If you have kids, then you want them to develop the same skills. The NYT bestseller book The Opposite of Spoiled explored the many modern ways to teach kids about money. One recommendation for allowances is to split it up into three jars: savings, giving, and spending.

For that saving jar, an additional hack would be to pay your kids interest on their savings. For example, you could pay a monthly interest rate of 10%, which is huge in the adult world, but for a kid you need it to be large enough to be “felt” and hopefully teach them the following concepts:

  • Regular, automatic savings. Let’s say you give them $10 a week that is automatically saved. (They don’t manually move money over every week, it just happens like a 401k plan.) Even with no interest, two and half months later, they’ll have a hundred bucks!
  • Passive income. Now you could introduce the concept of paying interest. When they see their $100 pay $10 in interest at the end of the month, perhaps they will start to understand the power of passive income. “I could keep the $100 in there and still get to spend $10 every month forever!”
  • Compound interest. Now show them how they can get interest on their interest. If they start with $100, don’t take any money out, don’t save a penny more, at 10% monthly interest they will still have $314 after 12 months of compounding.
  • Compound interest + regular savings! If they start with $100, don’t take any money out, keep saving another $10 a week, at 10% monthly interest they will have $549 after a 12 months of compounding. This is starting to become serious money!
  • Passive income revisited. A year later, that passive income isn’t $10 a month anymore, it has become $55 a month! This would be a good time to tell you that parents pay the interest, so if you have a little Warren Buffett at home you should set a cap on interest payments upfront. 😉

There are a growing number of “allowance apps” to cater to this market, but Nickel (iOS only, Android “not yet”) is one of the first services that I’ve seen implement this custom interest rate feature. Designed for kids age 8 and up, Nickel offers a reloadable debit card and a smartphone app for you and the kid. The parent can view all transactions and control things like allowance amount, one-time transfers, and interest rates.

Much like adult prepaid cards with 5% APY savings accounts, there are two buckets of money: the “Card” account which is available to spend via Mastercard debit, and “Pocket” account which earns interest. Here’s a 1-minute video explainer and some screenshots of the interest rate feature:

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Finally, apps are cool, but let’s not forget the core values and character traits that lead to good behavior in general.

Weight Management vs. Money Management: Taking the Long-Term View

nodietI’m currently reading Smart People Don’t Diet by Charlotte Markey. The book offers a “science-based approach” to weight management backed by academic research from scientists, doctors, nutritionists, and psychologists. Sounded good to me. The main takeaway from the book so far is exactly what the title says: Diets don’t work.

Why? You can’t achieve permanent weight loss with a temporary plan. A diet is almost always a short-term gimmick, like “no carbs” or “eat only this smoothie for lunch” or buying meals from Nutrisystem. Once you go back to your original eating habits, you’ll go back to your original weight. Therefore, any changes you make should be something you can maintain for the rest of your life. Can you really not eat bread ever again? Or eat processed frozen meals forever? For a few people yes, for most people no.

Looking at everything through the long-term “rest of your life” filter encourages you to consider carefully and find changes that are sustainable. Skip the ideas that are unreasonable (for you). These days, there is no way I am waking up early to work out every day. I will probably never be a vegan or even vegetarian. However, I can exercise twice a week in the evenings and reduce my portion sizes.

It feels natural to compare weight management and money management. For weight loss, you are consuming and burning calories. For personal finance, you are earning and spending money.

  • In terms of consuming less calories, this meant consciously choosing food that truly give me joy, and cutting back significantly on the rest. I love cheese, crusty bread, and roasted vegetables. I discovered that I could reduce the following to once a week or less without significant pain: beer, desserts, and red meat. Research supports the idea that for weight loss, eating less is far more important than exercising more.
  • In terms of managing my spending, I tried to identify the things that truly give me joy, and cutting back significantly on the rest. I plan to always spend a big chunk of money on travel every year. On the cutting room floor: I spend very little on clothing and entertainment, I never go to bars or clubs, and I dine out at restaurants less than once a week. Here, your savings rate is most critical, which places high importance on your income levels as well.
  • One-time actions can also be sustainable as you don’t have to use up your willpower over and over, such as moving into a smaller house (lowering housing, maintenance, insurance, and utility costs all at once). In terms of eating, simply never allowing certain tempting foods to enter your home will help you avoid eating them (salty, crunchy things like potato chips are my weakness).

Can I keep all of this up forever? I don’t know, some stuff I’ve already kept up for years, and others have only lasted the last 6 months or so.

  • I suppose you could argue that if you manage to accumulate a big enough pile of money, you could never have to work again. But even that assumes a certain level of long-term discipline, as many people with many millions of dollars still manage to go broke all the time.
  • No matter how much or how long you starve yourself, there is nothing that will allow you to eat junk food all the time without gaining weight again. On other hand, this also means that even if you eat horribly for a day or even over a month, you can still recover. Now I don’t feel too bad about that bag of Cheetos I had for “lunch”. 🙂

Which reminds me… taking the long-term view also means you need to expect failures, both financially or weight-related. The important thing is to accept that you stumbled, pick yourself up, and keep moving forward. You’ve got the rest of your life to go, right?

Feel Like You’re Always Eating Out? You’re Not Alone.

Here are some charts illustrating a couple of interesting food trends in the US.

Americans are spending a smaller percentage of their income on food than ever. From America’s Shrinking Grocery Bill:

In 1984, the average U.S. household spent 16.8 percent of its annual post-tax income on food. By 2011, Americans spent only 11.2 percent. The U.S. devotes less of its income to food than any other country—half as much as households in France and one-fourth of those in India.

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But you see that big orange slice of the chart?

We are also spending a larger percentage of our food budget on food prepared away from home than ever. From Cheap Eats: How America Spends Money on Food:

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Looking at the chart, it seems like only a matter of time before we eat out more often than we eat in.

Our peak period of eating out was after the birth of our first child. It felt like we were whipping out the binder of take-out menus nearly every day. More recently, we completed the Dinner Boot Camp which contained a week-long plan for easy home dinners, and since then we’re on our 4th consecutive week of cooking dinner (and the following day’s lunch) at home at least 5 times a week. It’ll be hard to keep up, but doing a bit of planning before every week really does go a long way.

Manilla Shutting Down. Online Bill Management Alternatives?

checkappA few readers e-mailed me to let me know that bill management website Manilla.com announced that they will be shutting down. Surprising, as they were just mentioned in Money magazine last month!

Manilla will be closing on July 1, 2014. This was a hard decision given that, over the past three years, Manilla has won many awards […] but was unable to achieve the scale necessary to make the economics of the business viable.

As noted in my now-useless Manilla review, many people enjoyed having all of their bills located in a central place. It was also nice that they offered to store all your old bills forever… or in this case September 30, 2014 after which they will be destroyed.

What are good Manilla alternatives? Here are several services that offer similar features in no particular order, please feel free to add more in the comments. I haven’t gotten to try them all out yet, so share your experiences as well.

  • Finovera – “Our mission is to make the process of receiving, managing, paying and organizing household bills and documents simple, automatic and effortless.”
  • Enfold – “Enfold is a free-for-life virtual filing cabinet where you can safely store and organize all your important documents and account information.”
  • MoneyStream – “Not just an organizer or bill-payer, MoneyStream brings everything together in one secure place—and then shows you a future view of your money so you can see at a glance where you stand and where you’re going.”
  • Check (formerly PageOnce) – A free smartphone app that both organizes and tracks balances, with the added feature of letting you pay your bills through the app. I don’t think it stores past statements past a certain time period.
  • Mint – Owned by Intuit, Mint is more budget-centric and tracks all of your transactions. You can’t pay bills through the software (although it will send you bill reminders) and it doesn’t store actual monthly statements.
  • Mobilligy – “Mobilligy puts all of your bills in one app that lets you review, manage and pay your bills for free – anytime, anywhere.”
  • FileThis – “FileThis is like a personal assistant for your paperwork. It automatically collects, files, tags, and organizes your online documents in a digital filing cabinet. Never lose another bank statement, legal paper, tax form, insurance document, or other important piece of paperwork.”
  • Doxo – “All your provider accounts and information together at last. Back up all your critical documents automatically to your personal cloud storage. Receive and pay bills from connected providers with doxoPAY.”
  • Personal Capital – similar account aggregation focus as Mint, plus some investment portfolio analysis features.
  • Zumbox – “Your postal mail delivered online. Your documents stored securely, forever.”
  • Intuit Paytrust = “PayTrust’s all-in-one online bill pay allows you to easily receive, track, and pay all your bills online.”
  • MyCheckFree – “Receive and pay your e-bills at one easy, secure location.”
  • Yodlee Labs – “This is a site where Yodlee will launch (and test) all of its latest (account aggregation) products before they are launched anywhere else in market.” If you just want most recent, most-refined version, sign up at Yodlee Moneycenter.

With Manilla and Everpix, I am reminded that any offer to store your stuff “forever” really means “as long as we keep making enough money”. Personally, I’m still using my bank’s Online Billpay service along with AutoPay with credit card where possible. For archival purposes, I download any paperless bills in PDF format to a folder on my computer, which is automatically backed up daily to my external hard drive and also instantly synchronized with my free Dropbox.com cloud account. However, if I can truly view and pay all my bills in one simple mobile app and a few taps, I’d be up for that.