Sarasota inventor believes he can revolutionize saving habits - WFLA News Channel 8

Sarasota inventor believes he can revolutionize saving habits

Posted: Updated:
Dr. Bert Burke shows his MeMoneys app Dr. Bert Burke shows his MeMoneys app
SARASOTA, FL (WFLA) -

A Sarasota inventor has a new product that he believes will revolutionize the way we spend and save money. And he certainly knows a thing or two.

He invented that popular thing that millions of Americans use on a daily basis: a gift card. Now, 78-year-old Dr. Bert Burke is showing News Channel 8 what he's up to next.

Burke, a longtime therapist, was standing in line at a checkout counter one day decades ago when he had an idea.

"I got change, a couple of coins. And I'm saying, 'What am I going to do with this change?'" Burke explains.

He thought, why not collect that money on some sort of card and spend it at the store later? Which led to his invention of the gift card.

And, if your bank rounds up your purchases to the next dollar and deposits some change into your savings, you can thank Burke for that too. He invented it.

But now, Burke has a new product that can change the way Americans save and budget. It's called MeMoneys.

"It's so easy,” Burke says. “However you want to save, you can save."

It's a website and an app. MeMoneys uses a secure system to track your spending, then you can control how much you can save.

Users can choose to round up your purchases to the next dollar, or by four dollars, if you wish.

Users can also ask MeMoneys to take a certain amount of money each week to put into your savings.

Or you can also put in a goal. Let's say you want to save up for a cruise. Just tell MeMoneys how much you want to save.

"[MeMoneys] will tell you exactly how much money you need to save every week and they will automatically take that out for you,” said Burke’s wife and business partner, Michaela Burke.

At the end of each week, MeMoneys will send you an email, telling you how much you saved. But you have to give them permission to extract that money from your checking account.

The money can then go to your savings, a retirement account, or even a debit card that you can spend however you wish.

None of your sensitive information is stored.

"The only thing we will know is [how much] Joe saved in a year. But we don't know if he spent that money, we don't know if he still has that money," Michaela Burke said.

"We don't even know your checking account number. We don't know anything, we don't want to know anything, it’s your money. You do with it, and we aid you to do things with it," Burke says.

MeMoneys is free, ready for use, and ready to help you save for whatever you wish.

Burke says he also has a few more inventions up his sleeve, so stay tuned.

Check out MeMoneys here.

Copyright 2014 WFLA. All rights reserved.


  • Don't Miss ItMore>>

  • Nissan expands recall prompted by faulty air bag

    Nissan expands recall prompted by faulty air bag

    Monday, July 28 2014 7:50 PM EDT2014-07-28 23:50:41 GMT
    Nissan is recalling more than 226,000 additional vehicles over a defective air bag that has affected much of the global auto industry.
    Nissan is recalling more than 226,000 additional vehicles over a defective air bag that has affected much of the global auto industry.
  • Instagram page inspires travelers to post topless photos

    Instagram page inspires travelers to post topless photos

    Monday, July 28 2014 6:10 PM EDT2014-07-28 22:10:56 GMT
    Yosemite National Park, CA, "Topless Tour" Instagram photoYosemite National Park, CA, "Topless Tour" Instagram photo
    A popular Instagram page is featuring a unique look at scenic locations around the world."The Topless Tour" encourages people to upload topless photos of themselves posing in scenic landscapes.
    A popular Instagram page is featuring a unique look at scenic locations around the world."The Topless Tour" encourages people to upload topless photos of themselves posing in scenic landscapes.
  • Pit bull puppy and baby are best pals

    Pit bull puppy and baby are best pals

    Monday, July 28 2014 6:08 PM EDT2014-07-28 22:08:12 GMT
    Brandi Hodges Instagram photoBrandi Hodges Instagram photo
    An adorable 8-week-old pit bull puppy and his best pal, a 10-month-old baby, are melting hearts on the internet.
    An adorable 8-week-old pit bull puppy and his best pal, a 10-month-old baby, are melting hearts on the internet.
  • Most Viewed Stories on WFLA.com

  • Sign up for WFLA News Channel 8 Email Alerts

    * denotes required fields






    Thank you for signing up! You will receive a confirmation email shortly.
Powered by WorldNow

200 South Parker Street, Tampa, FL 33606

Telephone: 813.228.8888
Fax: 813.225.2770
Email: news@wfla.com

Can’t find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.