5 Top Apps for Saving Money
Over the last few years I have seen an explosion of apps being released and downloaded. One sector that really stands out in this regard is the personal finance sector – entrepreneurs are now discovering there are cheaper, more flexible and more innovative ways to manage your money outside using the traditional methods. Whether you’re an individual consumer or a small business, you can utilise these 5 apps to help save money and better manage your finances.
Moneytree
Moneytree is arguably the best digital wallet app, and is available on both android and ios. It stores basically everything, allowing you to keep on top of your bank accounts, various loyalty schemes, superannuation balance, transport cards and frequent flyer miles. It also provides you with a whole heap of interesting analytical data to give you further insights into your spending habits. For example, you can view the categorised flow of funds going in and out of your account each month, as well as gaining visibility over where you are spending and accruing your Woolies rewards points.
Splitwise
Splitwise is a great app to use if you’re a socialite, have housemates or often have shared expenses. Splitwise automatically splits payments between you and your friends, whether it’s household bills that need to be divided, or that annoying dinner bill that always seems to be $10 short. It also keeps a running tally of who owes who, and sends monthly reminders about any outstanding debts. Whilst it isn’t designed specifically to help you budget, it will help give you further insights into any extra money you are owed, or that perhaps you owe friends instead.
Raiz
Raiz is a personal finance app that rounds up your everyday purchases to the nearest dollar and invests the difference into a designated portfolio. Raiz is a great next step to take if you’re already sorted with your budgeting and analytics apps. You get to choose between 6 diversified portfolios which are made up of hundreds of Australian and international companies, cash and bonds. It has rave reviews on the app store and, in my most humble opinion, is one of the best microfinance apps out there.
Up
Up is a digital banking app designed to help you organise your money and simplify your life. Because it is all online it is able to take advantage of low running costs, which are then passed on to you in the form of nice rates and nifty tools. In fact, Up has a whole bunch of inbuilt features to help you both maximise your savings (such as the round-up feature and high interest savings accounts) and get on top of your spending (like auto-spend categorisation and ongoing insights into your spending habits). Another awesome thing about Up is that it is constantly evolving. Because it’s a small, start-up, they have the ability to create and roll out superior functionality in quite impressive timeframes.
ATO
Now before you start rolling your eyes, I want you to hear me out. I get it – tax is mind-numbingly boring, but, as we all know, it’s also completely inescapable. The ATOhave produced a pretty helpful app that makes your life that little bit less stressful and makes the process of filing your taxes a whole lot easier. The app is a handy way to keep track of all your tax-related transactions. All you need to do is download the app and link it to your tax file number. You can then lodge and track your tax returns, store all your tax deductable information and expenses in real-time, as well as gaining access to the ATO’s impressive range of tools and calculators. If lodging your tax return each year is something that stresses you out, or sees you rummaging through old drawers for hours looking for specific receipts, this is the app for you!