AI has penetrated almost every industry, from healthcare to marketing, logistics, retail, and even banking and financial services, where it has provided a faster and more accurate assessment of the financial borrower. It has also redefined financial planning. Artificial Intelligence is changing financial planning, helping companies and people draw a more practical roadmap connecting their current financial state to their goals. Over the past few years, we have seen companies leverage AI to build AI-powered finance platforms/apps that can help analyze client profiles more effectively and bring them closer to their financial goals. One such platform is FitBUX.
FitBUX is a financial platform built in 2015 that uses Artificial Intelligence to help users optimize their financial plans based on changing market trends and changes in a member's financial or personal situation. The platform analyzes the member's profile, including answers to key questions about their financial situations, their aspirations and goals, which it then uses to provide recommendations on a range of financial decisions like how much down payment you need to save for a home, how to prioritize repaying student loans, whether it is financially advisable to purchase a home, and whether to focus on paying off debt or investing. Their approach makes them different and convenient for young professionals.
FitBUX provides available financial routes and step-by-step guidance from the data collected (FitBUX score). You can track all your finances from budgeting to repayment, monitor your financial plan for monetization opportunities, and adjust your plan as your life changes.
Additionally, the FitBUX platform helps you decide whether to contribute more to a 401K or a Roth IRA based on your paycheck. It uses unique data points that help you build custom financial plans, making investing, planning for life's special moments such as weddings, and paying off debts easier.
The company currently manages over $2.2B in assets and debts and has helped over 14,000 young professionals make good decisions on student loans, retirement, home buying, and so much more. FitBUX members use the platform to pay off millions in mortgages, save for retirement, and eliminate student debts.
According to Joseph Reinke, the founder, and CEO of FitBUX, their goal is to ultimately reduce money-related stress, especially for young professionals, and help people achieve financial freedom through smarter financial planning. While money is a significant part of life, many people avoid talking about it, which has contributed to the current situation. Many people don't know how to manage their finances, and seeing that money topics are considered taboo in many cultures, people shy away from asking questions, Joseph says.
Through FitBUX, Joseph created a safe space meant to help young professionals learn more about their financial standing and take control of their finances. By sharing simple information such as your education, background, and financial situation, the platform provides recommendations based on your current standing. The platform also provides expert coaching to assist members with a human touch. FitBUX has made it part of its mission to help others better understand finances and how to manage finances, especially in volatile market conditions. FitBUX members can schedule calls with a FitBUX coach anytime. For more information about the platform, click here.
