BMO DollarGPS

About BMO DollarGPS

DollarGPS can empower you to manage your finances effortlessly and efficiently with the potential to significantly improve your wealth and sizably reduce your debt interest. Our results have been verified using personas derived from U.S. household data published by the government and apply across all income deciles.

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.