Three Applications to Consider When Managing Finances for Millennials

Before he became the president and owner of Windsor Securities and MFIP Inc., Steven Prusky acquired a bachelor’s degree with honors in computer science at Brown University. At present, Steven Prusky focuses his energy on his companies, which manage client assets using updated mathematical programs.

With the rise of credit cards, digital banking, and mobile shopping, many millennials now live in a so-called cashless society. While offering certain benefits, the move away from paper money nonetheless detaches millennials from their expenses and potentially leads to overspending. With this in mind, here are three digital applications millennials should consider to help them manage their finances:

1. Mint notifies the user how much they are spending daily. It also gives real-time access to pending payments and account balances. It brings together all of the finances of the user in one application with a friendly and easy-to-access interface.

2. Robin Hood requires its users to select their own investments, with its mission to democratize access to the financial markets. Furthermore, the application is expanding internationally, meaning users outside United States can now have access to the application.

3. Albert brings the idea of giving the best financial advice with simplicity and jargon-free instructions. It’s easy to take action directly from the application and it’s free. Moreover, it sends tips on financial improvement, credit card usage, and insurance policies.

Mr. Prusky is not recommending these or any other services. He does not offer expertise in giving financial advice, but is rather a discretionary money manager, who accepts clients' funds for a defined method of investing and allocates those funds as he sees fit within the confines of the Client Contract. The notes above are personal reflections and are not to be construed as advice.

Steve Prusky: Rescue Task Force’s Clean Water Filter Project

Starting as a summer employee in 1982, Steven Prusky worked full time at Windsor Securities, Inc., after earning his BA in computer science with honors at Brown University. Now the owner and president of the company, Steven Prusky is also involved in charitable activities. he is a Board Mmeber of Rescue Task Force (RTF.ORG). 

Offering its services since 1988, RTF is a nonprofit organization that aids those who are suffering because of economic or geographic deprivation. It often assists people who are beyond the reach of traditional relief providers.

One of its initiatives is its Clean Water Filter Project for Honduras Jungle Villages. This program provides Miskito Indian families living in Honduran jungle villages with water filters. Jungle villagers in areas visited by the organization revealed 100 percent parasitic and worm infestations. Clean water, which can be achieved by distributing individual family water filters, is integral to breaking the infestation cycle. 

Steven Prusky has personally overseen such water installation projects in Honduras, Cambodia, and Laos. His most recent on-the-ground involvement with TRF was in helping to provide Laotian girls with knowledge and books regarding feminine hygiene -- and often otherwise taboo subject.

At one of RTF’s project villages, the use of water filters reduced incidences of diarrhea by 90 percent. While diarrhea is an inconvenience in developed countries, it can often cause death due to dehydration among the very young and the very old in less developed parts of the world.