BMO DollarGPS

Get empowered to improve your wealth and reduce your debt interest

DollarGPS can empower you to manage your finances effortlessly and efficiently with the potential to improve your wealth and reduce your debt interest.

DollarGPS has been developed by reputed finance and tech executives along with an advisory board of world-renowned academics including two Nobel Laureates. It is delivered in collaboration with BMO.

The app provides you with access to advanced financial tools once reserved for elite institutions. This powerful financial GPS should make managing your finances effortless and rewarding.

The different functional modules work seamlessly together to facilitate optimal financial decisions to help you realize your life goals and improve your long-term wealth.

a. Forecasting: Detailed projections of your overall net worth and cash balances over 30 years.
b. Wealth Improvement: A set of strategies that could potentially improve your long-term wealth projections. These strategies are mathematically derived by applying ALM (Asset Liability Management) techniques to your overall finances.
c. Life Goals: Ability to analyze, add, track and realize life goals like wealth targets, asset purchases or other large expenses.
d. Budgeting: Ability to track your monthly spending, and to make informed spending decisions with foresight of their impact on your long-term wealth and life goals.
e. Ongoing Navigation: The app generates informational navigation prompts derived from the calculations used to generate your financial projections. You can use the help of these navigation prompts to take appropriate actions through time to track your forecasted wealth and life goals. But in true GPS style, you can choose to take help or not, you retain complete control.

DollarGPS is designed to play a meaningful role in transforming financial empowerment. Traditional financial literacy focuses on teaching you foundational skills that explain how finance works. DollarGPS builds on that important foundation by giving you the equivalent of a navigation system.

Free Lifetime Use and Paid Subscription Plans:
The app is prepopulated with 20 personas (10 each for renters and homeowners) derived from household data published by the U.S. Government.

You can experience the app instantly by selecting a persona that’s closest to you in terms of monthly income and home ownership status. This allows you to see how the app can help someone like you without entering any financial data.

Once you’re convinced of its value, you have two options to use the app: (i) Free of Cost, or (ii) Pay to Subscribe.
Free Lifetime Use: You can edit the persona data to more closely reflect your finances, with some restrictions. You can update your data on an ongoing basis to continue using the app free of cost.
Paid Subscription Plans: You can subscribe to connect your accounts for precise results and the optimal experience which includes automatic balance updates and navigation prompts. You can select from Monthly or Annual subscription plans, both of which auto-renew unless you cancel them.

Revenue Model:
- We do not sell financial products or services.
- We do not earn commissions for our debt switch functionality.
- We do not earn an investment management fee for our investment strategy.
- We do not monetize your data.
- We simply charge a subscription fee for the optimal experience with an option for you to use the app completely free of cost forever.