New app promises a weekly payday

By John Atkins

Do you live paycheck to paycheck?

Would saving money over a seven day period be easier for you than saving money over a fourteen day period?

With Even, a new financial app in beta stage, you can do just that– get paid on a weekly basis and your employer never has to know! The cost of using Even is set as a flat fee. It only costs $5 per week to use. The flat fee gives you access to a Paycheck boost, Emergency Assistance, and budgeting features.

It’s great for people working in the service industry, as a freelancer, and for anyone living paycheck to paycheck.

Even For The Service Industry

Even’s app has a feature on it called Paycheck Boost. With this feature, Even lends you the weekly amount that you are earning. Even’s app connects to your checking account, detects how much you’re getting paid every two weeks, and gives you half of it, up front.

When you finally do get paid, Even automatically withdraws the exact amount that was given to you the week before. Essentially, Even is allowing you to get paid weekly.

This feature is perfect for anyone in the service industry who is living paycheck to paycheck, has had their hours cut recently, or is not getting the tips they deserve.

Even For The Freelancer

The app also has a feature that provides you with Emergency Assistance. This feature is for when you are short on cash and need a little help. Just like with the Paycheck Boost feature, Emergency Assistance doesn’t charge interest on the amount that you are lent.

This feature is perfect for anyone who doesn’t have a steady income, such as a person working as a freelancer.

Even For Everyone

In addition to lending money, Even’s app also budgets your money automatically, and it can recognize when you have enough money in your checking account that can be set aside for your savings.

This feature is perfect for anyone who has saving money

Interested in Even’s App?

The app is not available to the public, but if you visit their website, you can request an invite from them.

As of January 2015, Even had raised $1.5 million in funding according to CrunchBase. Hopefully, this recent funding will help them push their app public.

About the Author

John Atkins is the former community manager for Self.

Written on June 29, 2016

Self is a venture-backed startup that helps people build credit and savings.
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Disclaimer: Self is not providing financial advice. The content presented does not reflect the view of the Issuing Banks and is presented for general education and informational purposes only. Please consult with a qualified professional for financial advice.

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