iStock/Thinkstock(NEW YORK) — Americans spend a lot in November and December, primarily on holiday gifts. For those in need of a getaway, the final months of the year present a tough time to travel.
However, there is one app trying to help people do both.
The app is called SPENT, launched in 2016 with a focus on making people smarter spenders. It aims to help people manage their expenses while also getting cash back on their purchases.
This year, SPENT launched SPENT Travel, a booking platform enabling users to book trips with cash back rewards. One of their goals is to make travel affordable for folks even during the holidays, when getting away can seem necessary but almost impossible.
SPENT founder and CEO Erno Tauriainen spoke with ABC News and talked about SPENT travel and how he sees his app growing over the next several years.
“SPENT is about enabling people to do what we call smarter spending, and earn cash-back doing it. We give people tools to help manage their money better,” Tauriainen says.
The process takes a few steps: download the SPENT app, link it to a debit card, credit card, or bank account, and earn cash back when making purchases through the app. He says SPENT can be used to make daily purchases, such as grabbing a coffee at Starbucks or picking up an Uber home from work.
When it comes to traveling, SPENT Travel allows users to earn cash back after booking a hotel.
Tauriainen claims that users can earn up to 25% cash back on hotel purchases because cash back products work in addition to any rewards and loyalty programs that come with a credit card.
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