Author Topic: Frum Finance (Mint Alternative)  (Read 1968 times)

Offline Yo ssi

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Frum Finance (Mint Alternative)
« on: November 28, 2023, 06:33:32 PM »
They just came out with a mint alternative that's free https://frum.finance/planning

They also have a slack and WhatsApp channel which is worth a follow.


Full disclosure: I know the person who is behind it.
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Offline Alexsei

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Re: Frum Finance (Mint Alternative)
« Reply #1 on: November 28, 2023, 08:31:36 PM »
Hmmm, so why should I trust them with my financial data ?
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Offline yuneeq

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Re: Frum Finance (Mint Alternative)
« Reply #2 on: November 28, 2023, 10:31:48 PM »
Hmmm, so why should I trust them with my financial data ?

This question is two-fold:
Giving my financial data to a startup is risky, how can I trust them to protect it? And why would I give my financial data to people that have the best chance of personally knowing me?
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Offline yoohoo

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Re: Frum Finance (Mint Alternative)
« Reply #3 on: November 28, 2023, 10:38:33 PM »
Hmmm, so why should I trust them with my financial data ?
use a fake name?

Offline Euclid

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Re: Frum Finance (Mint Alternative)
« Reply #4 on: November 28, 2023, 10:39:08 PM »
This question is two-fold:
Giving my financial data to a startup is risky, how can I trust them to protect it? And why would I give my financial data to people that have the best chance of personally knowing me?
It's not a startup, it's a 501c3 that is using Right Capital https://www.rightcapital.com/

There's also a setting in RC that allows you to hide your data from the admin.

Offline AsherO

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Re: Frum Finance (Mint Alternative)
« Reply #5 on: November 28, 2023, 10:39:31 PM »
Arenít they just reselling a customized version of Right Capitalís app/platform?
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Offline Euclid

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Re: Frum Finance (Mint Alternative)
« Reply #6 on: November 28, 2023, 10:41:21 PM »
Arenít they just reselling a customized version of Right Capitalís app/platform?
Pretty sure it's free

Offline AsherO

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Re: Frum Finance (Mint Alternative)
« Reply #7 on: November 28, 2023, 10:45:09 PM »
It's not a startup, it's a 501c3 that is using Right Capital https://www.rightcapital.com/

There's also a setting in RC that allows you to hide your data from the admin.

Are they a 503c3? Iím not seeing it on their site
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Offline yuneeq

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Re: Frum Finance (Mint Alternative)
« Reply #8 on: November 28, 2023, 10:45:53 PM »
It's not a startup, it's a 501c3 that is using Right Capital https://www.rightcapital.com/

There's also a setting in RC that allows you to hide your data from the admin.

If RC is known to be secure there should be no concerns
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Offline AsherO

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Re: Frum Finance (Mint Alternative)
« Reply #9 on: November 28, 2023, 10:45:57 PM »
Pretty sure it's free

Repackaging* I didnít mean to imply they charge the users anything
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Offline ExGingi

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Re: Frum Finance (Mint Alternative)
« Reply #10 on: November 28, 2023, 10:47:38 PM »

Full disclosure: I know the person who is behind it.

Is that supposed to be confidential?
I've been waiting over 5 years with bated breath for someone to say that!
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Offline Euclid

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Re: Frum Finance (Mint Alternative)
« Reply #11 on: November 28, 2023, 10:49:57 PM »
Is that supposed to be confidential?
Don't think so. Says his name on the home page https://frum.finance/start/

Offline skyguy918

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Re: Frum Finance (Mint Alternative)
« Reply #12 on: November 28, 2023, 10:54:46 PM »
There's also a setting in RC that allows you to hide your data from the admin.
Are you referring to the 'Hide my bank and credit card transactions from my advisor' option? Does that mean Frum Finance is the 'admin/advisor' if you sign up through this link, and that they'll essentially be using the higher level info gleaned to try to sell you financial products?

Arenít they just reselling a customized version of Right Capitalís app/platform?
I don't even really see anything customized once you're signed in and set up.

I used to use mint a lot for it's ability to aggregate all my transactions across all financial institutions and accounts. I was able to find something like that here (Dashboard>Budget>Transactions), but it doesn't seem nearly as flexible as Mint was. I'm hoping Credit Karma will somehow integrate that aspect of Mint, but I'm not optimistic.

Offline Euclid

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Frum Finance (Mint Alternative)
« Reply #13 on: November 28, 2023, 10:57:05 PM »
Are you referring to the 'Hide my bank and credit card transactions from my advisor' option? Does that mean Frum Finance is the 'admin/advisor' if you sign up through this link, and that they'll essentially be using the higher level info gleaned to try to sell you financial products?

Yes I think so. I'm on the slack and based on everything that he's said over the past year he really seems to be doing this as a non-profit. He has no plans to monetize the organization; this RC implementation is just one aspect of the org.

Offline niebloomj

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Re: Frum Finance (Mint Alternative)
« Reply #14 on: November 28, 2023, 11:01:41 PM »
Are you referring to the 'Hide my bank and credit card transactions from my advisor' option? Does that mean Frum Finance is the 'admin/advisor' if you sign up through this link, and that they'll essentially be using the higher level info gleaned to try to sell you financial products?
I don't even really see anything customized once you're signed in and set up.

I used to use mint a lot for it's ability to aggregate all my transactions across all financial institutions and accounts. I was able to find something like that here (Dashboard>Budget>Transactions), but it doesn't seem nearly as flexible as Mint was. I'm hoping Credit Karma will somehow integrate that aspect of Mint, but I'm not optimistic.

Hi, founder of frum finance here. Yes if you sign up through our link, frum.finance is the advisor. We pay your license fee through donations to the mosid. We don't sell any financial products so you don't need to have any concern about that. We are a non profit supporting the frum financial independence community. If you look through the website you'll see all the services we provide for free. The only money coming in is through donations. Thanks.

Offline niebloomj

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Re: Frum Finance (Mint Alternative)
« Reply #15 on: November 28, 2023, 11:04:19 PM »
Are they a 503c3? Iím not seeing it on their site

We are 501c3 pending. There is a federal backlog. We can still accept tax deductible donations and we are a registered non profit. I can send more of the pending 501c3 info if you email me at baruch@frum.finance

Offline niebloomj

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Re: Frum Finance (Mint Alternative)
« Reply #16 on: November 28, 2023, 11:06:20 PM »
Hmmm, so why should I trust them with my financial data ?

As other people noted, frum finance doesn't hold any financial data. We pay right capital to secure all of it. We are just offering this software as a service to the community. It also gives us a uniform way to look at people's financials when they schedule with us for our free financial planning sessions.

Offline niebloomj

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Re: Frum Finance (Mint Alternative)
« Reply #17 on: November 28, 2023, 11:10:23 PM »
For more context, the organization recently partnered with the OU to expand our impact. You can see more information about that partnership on the homepage of the website. While I have your attention, I think users of this forum would be interested in the chart we maintain https://frum.finance/chart/

Offline Yo ssi

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Re: Frum Finance (Mint Alternative)
« Reply #18 on: November 28, 2023, 11:12:58 PM »
And now I found out @niebloomj is here, a delayed welcome to the forum :)
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Offline AsherO

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Re: Frum Finance (Mint Alternative)
« Reply #19 on: November 28, 2023, 11:38:24 PM »
We are 501c3 pending. There is a federal backlog. We can still accept tax deductible donations and we are a registered non profit. I can send more of the pending 501c3 info if you email me at baruch@frum.finance

Iím loving the transparency and clear communication, kudos and hatzlacha with this project and all of your endeavors.

@RebYidknows can learn a thing or two from you.
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