Jan 01

The Best Apps to Get Your Finances On-Track For 2019!

Where does all that money go? There are a host of apps available to help you easily answer that question, set some goals, form some good habits and get off to a great financial start in 2019!

Thanks to technology, you can feel more comfortable and in control of your finances. Here are our top five apps, we recommend you give them a try for yourself and see how many goals you can kick this year with your finances.

TrackMySPEND

This free app allows you to track your personal expenses on the go and is very simple to use. Made available by the Australian Securities and Investments Commission’s MoneySmart website, it will give you a better picture of what you are spending your money on.

You can use it to record expenses such as your weekly household budget, work or travel expenses, particularly those cash expenses that are difficult to record or the costs of a special event, such as a wedding.

You can also separate your spending into categories like “needs” and “wants” to identify areas where you can rein in your spending and start saving.

Check the app out here.

TrackMyGOALS

Also available from the MoneySmart website and free, this easy-to-use app will help you set realistic savings goals. It assists with prioritising, making it easier to achieve goals and providing you with positive encouragement by tracking your progress.

You can also use this app to track how well you are saving for a holiday, wedding, car, house, renovation, school fees or anything else you are dreaming of.

Check the app out here.

Pocketbook

Also free, this popular budgeting app integrates with many of the major Australian banks. This means you don’t have to manually enter all your expenses onto the app. Instead, you sync the app with your bank accounts and credit cards to track where your money is going.

You can use mobile photos and geo-location to input cash transactions like coffee or a beer, or add additional details like photo receipts, bills and invoices to help you track your transactions.

Pocketbook automatically organises your spending into categories like clothes, groceries and fuel, showing you where money is being spent.

You can also set up budgets for each category, see your balances and view your transactions. The app ensures all your bills are automatically detected and in the one place. Plus, you get notified when bill payments are coming up and if you have enough money to cover them.

Check the app out here.

Goodbudget

This app is a modern take on the time-tested envelope budgeting method, where the cash for each month’s expenses is taken out and divided into envelopes for each budget category, for example, groceries, transport, eating out or rent.

The idea is to stop spending on that category once you’ve emptied the envelope or before, if you’re really disciplined.

Goodbudget helps you to stick to your budget limits. Rather than discovering that you overspent when it’s too late, you can plan your spending beforehand and only spend what you have.

Because you can share a budget across multiple devices, the app can also help couples manage the combined household budget and check know how each partner is tracking.

There’s a free version that allows you to create 20 envelopes and share across two devices. However, for US$6/month or US$50/year you get unlimited envelopes and accounts, the ability to share these across five devices and to keep five years of history.

Check the app out here.

Mint

Another free app, Mint brings your bank accounts, credit cards, bills and investments together so you instantly know where you stand. You can see what you’re spending, where you can save money and can even keep track of your credit score. Plus, it allows you to easily create budgets you can stick to.

You get bill reminders so that you pay bills on time. And, you can schedule payments on the spot or for later, ensuring you never miss a payment again.

Check the app out here.

For more information on how to set budgets, goals and form good financial habits, contact MBC on 6362 0988 for an obligation free appointment.