Comingle is an interesting idea that would act as a pseudo emergency fund to provide a stable week to week income for their users. It could act to stabilize your income if you have an irregular income or as an backup plan or insurance for when you lose a job or income source. It works by distributing the average of all their members contributions weekly to each user. Once the service starts, the end result will be a net gain for those with low income and a payment to provide a guaranteed monthly income for higher earners.
- For those with low income, any amount of extra money can aid in the pursuit of opportunity and keep things from turning desperate.
- For freelancers and gig-workers, reliable weekly income can ease the complications of sporadic cash-flow.
- For those with more income, Comingle lets you help others, sends you a little extra cash on slow weeks, and provides a safety-net if things take a turn for the worse.
Disclaimer: I am not affiliated with them. I just got this in an email newsletter and was intrigued.
I like the concept. I’m highly concerned by the fact that they only seem to have gotten to the “we can move around monopoly money” stage and are asking $75,000 via Indiegogo to do all the “user verification and fraud detection” stuff. Do I trust this startup to have all my bank and credit report info? (And sure, they say they “may” need a soft credit pull, but let’s be realistic - to prevent people from connecting just one dummy checking account and pretending they have no income, Comingle’s gonna have to pull everyone’s credit and link all the bank accounts.)