If you’re a Douugh customer and you’re looking for a new home, Qube Money may be a good alternative. Douugh and Qube share the same mission to help people experience more peace, joy, and freedom with money. They also both help people spend mindfully, save more, and build wealth.
Let’s explore the similarities and differences. First of all, Qube Money’s revenue model includes financial coaching revenue, financial course revenue, subscription revenue, and interchange making a viable business model long-term. That doesn’t guarantee success, because building a business is hard work, but it gives Qube a fighting chance.
Like Douugh, Qube Money, is a banking and budgeting app with rewards and training modules to incentivize and motivate financial health. Qube Money combines the power & convenience of digital banking with the time-proven budgeting system, cash envelopes. So, you can literally purchase your groceries from your Grocery Qube and your entertainment from your Entertainment Qube all from the same debit card.
Qube has been developed in such a way to allow people the flexibility to start with a spending card that uses the swipe and go mentality like any other card and progress step-by-step toward digital cash envelope banking where purpose is given to each dollar, then spent or saved - exactly as intended! The result is an almost foolproof personal finance system.
On average, Qube customers who adopt cash envelope banking increase the amount they save per month by around $500. They also build a $1,500 emergency fund and significantly reduce their financial stress within months.
Spending Jar | Spending Qubes
Douugh’s Spending Jar replicates a traditional checking account where you are only meant to have one Jar. Your debit card is only connected to that one Jar.
Qube on the other hand allows you to have unlimited Spending Qubes (Jars) connected to the same debit card. By design your Qube Card (debit) has a Default Zero™ balance. This means there is no available balance on the card until you open your Qube app and tap the Qube you want to spend from. Seeing your available balance in a Qube before you spend helps you make better spending decisions. This also protects your card from authorized and fraudulent transactions. Most importantly it allows you to separate your money into multiple Spending Qubes and spend from each of them with the same card and stay on budget.
Qube also has a Spending Qube called Qubeless. When Qubeless is enabled, Default Zero™ is turned off and Qube acts like a traditional checking account. You can spend up to the limit you set and easily categorize Qubeless transaction and stay on budget.
Bills Jar | Bill Qubes
Douugh’s Bills Jar is identical to Qube’s Bill Qube, except you can have multiple Bill Qubes. Each Bill Qube has its own unique virtual account and card numbers. Like Douugh, they can be set to autofund and autopay. Because you can have multiple Bill Qubes, each bill can have it’s own Bill Qube empowering you to turn on and off payments from your Qube app. Subscription Control at its finest.
Yes, each bill qube gets its own virtual debit card number and account number so transactions can go directly to that qube without any effort!
Stash Jars | Goal Qubes
Douugh’s Stash Jars are identical to Qube’s Goal Qubes. The one difference is when you’re ready to spend from a Goal Qube, you can click a toggle button and it becomes a Spending Qube. So, when you’re ready to take that vacation you’ve been saving for, there is no need to move the money to another Qube.
Roundups & Invest
Douugh’s Roundups and Invest features are on Qube’s roadmap, but they haven’t been developed yet.
Like Douugh, Qube has an option with a $0 monthly fee (there is a $4.99 setup fee to deter fraud). Qube also has Premium and Family Accounts with additional features for a monthly fee. For more details on pricing visit: https://qubemoney.com/pricing/
Dough and Qube have a very similar user experience. Many people prefer the option to have more than one Spending Jar and Bills Jar. They also fall in love with the control of cash envelope banking.