West Fargo, N.D. (PRWEB) October 05, 2012
BreadVault, a North Dakota-based company, has nationally launched a product that reshapes the way families approach money management. The release of the BreadVault website and mobile application integrates traditional approaches to family money management with the latest features in technology.
BreadVault’s virtual money-flow system is centered on the idea of saving and spending wisely, investing for the long-term and giving back to the community. The product provides a platform for every member of a family to make decisions that will develop strong financial habits.
To Ross Almlie, BreadVault CEO and co-founder, the website and mobile app feature technology that will inspire a change in perception, allowing families to take control of their finances. “It’s time for a new outlook on money management. It’s time to involve the entire family and start setting goals to make purchases, go on trips, invest money for a positive return, and give back to the community.”
At the core of BreadVault’s mission is helping families succeed financially by using the concept of delayed gratification to teach the importance of spending available money instead of leaning on credit. The website and mobile app feature individual progress goals to help family members track and monitor available funds before making a purchase or donation.
“Whether a parent wants to save for golf clubs and one share of Apple, or if a child wants to save for the latest music download and a donation to a local animal shelter, BreadVault equally appeals to kids and parents,” Almlie said. “All it takes is a new generation of BreadVault families to begin a ripple effect of financial responsibility in America.”
“BreadVault is a company with an awareness of giving back at its core,” said Susan Smith, Big Brothers Big Sisters of Fargo Program Director.
Smith spoke at the product launch about the BreadVault CAREousel Program, which has partnered with organizations such as Big Brothers Big Sisters of Fargo and other local charities to include on the mobile app Give channel. “The [CAREousel] program has the ability to equip a young generation and their families with the tools to manage their spending goals and at the same time, making a difference in local communities.”
The company is founded in West Fargo, North Dakota and has been in development since early 2011. West Fargo Mayor, Richard Mattern, spoke at the product launch and explained why tech start-ups, like BreadVault, are emerging more frequently in North Dakota. “There’s a spirit of entrepreneurship in North Dakota, and in the region we’re seeing prosperity in our area.”
BreadVault credits its national launch to North Dakota values evident within the company’s framework. “BreadVault is a money management tool developed in a state that has provided its people with a solid set of financial principles,” said Almlie.
“The city of West Fargo has always tried to be helpful with any businesses that come to our area,” said Mayor Mattern. “We’re looking down the road 10, 20, 30 years with the idea that most businesses start out small and then expand when they mature.”
Almlie says he has been asked why he didn’t begin developing BreadVault in Silicon Valley, where many successful tech start-ups have origins. “We are conservative almost to a fault in North Dakota, but it has served us well in difficult economic times. I can't think of a better state in the union to help reshape how households manage their savings,” said Almlie.
For Almlie, the national release of BreadVault’s product means a shift in attitude from a burdensome approach to one that works. “BreadVault’s design encourages simplicity and relevance. At the end of every team discussion about new product development, we ask, ‘are the features simple enough for parents and kids alike?’ If the answer is no, we keep developing.”
“The purpose of BreadVault is to help families come together to achieve more. It’s that simple,” Almlie said.
About BreadVault LLC
BreadVault is an online money management tool designed for families, with an emphasis on kids, that teaches financial responsibility. The website and mobile application, available on iPhone and iPad, provide tools all members of a family can use to save and spend wisely, invest for the long-term and give back to the community. For more information about BreadVault, please visit http://breadvault.com.
BreadVault celebrated its national product launch October 2, 2012 at the Plains Art Museum in Fargo, North Dakota. Following the release of the website and mobile app, Almlie discussed the vision of BreadVault. Attendees were also able to demo the mobile app, meet the locally partnered charities and enjoy entertainment provided by Elevate Rock School kid bands, Krush and Chocolate Thunder.