Focus at Four: Aggie-run app using AI to manage your finance goals

Looking to take control of your personal finance goals? Whether it's saving for kids' college, working to pay off debt, or making sure you have the retirement you've always dreamed of, there's an app for that.

Pefin, the personal finance app, is run by CEO Catherine Flax, a Texas A&M University graduate. Flax, based in New York City, had traveled back to Aggieland to speak at a Women in Finance Conference at her alma mater. While in town, Flax sat down on First News at Four to explain Pefin's mission.

"We know that there are people under stress at every age," said Flax.

Flax says that your financial goals should be looked at as a whole, which is why Pefin helps consolidate your information.

But what you're really paying for with the $10/month pricetag? The artifical intelligence.

For example, Pefin shows you your financial situation "in context."

"It's one thing to look at a budget today, but to then project that forward, to see what that full picture looks like for your entire life, is something most people don't really have a great handle on," said Flax.

Pefin comes pre-loaded with the U.S. tax code, every state tax code, every college's costs, and every daycare costs down to the zip code--just to name a few.

"It's difficult to know how those variables fit together," said Flax, "and then also with your own personal spending patterns."

Plus, Flax points out that a human financial adviser would cost considerably more, about $5,000 a year, often with investment minimums that not everyone can reach.

If you'd like to try out Pefin, see the Related Links. Furthermore, to hear Flax speak on her other passion, encouraging women in financial careers, see the video player above.