![]() ![]() Savings tips sent via push notification, based on machine learning that can also predict your future spending.Personalised insights into your spending, including categorisation.Cashback options are available after spending money with linked brands.Your money can be invested in one of six diversified ETF (exchange-traded fund) portfolios.Lump-sum and recurring investment options, easily allowing you to invest more money at the touch of a button.Roundup technology, allowing you to either save or invest every time you spend through your linked transaction account/s.While the investment platform of Raiz might come with fees, it costs nothing to use the savings feature on offer by Raiz. This feature can categorise your spending into things like food or utilities and breaks it down on a month-to-month basis. Not only can you utilise the micro-investing or recurring deposit features as a tool to save via investments, but it also has a free ‘My Finance’ feature within the app that provides personalised insights into your spending. Raiz is a micro-investing app that allows users to invest in a portfolio of ETFs (exchange-traded funds) through spare change ’roundups’, recurring investments, rewards and lump sum deposits.Īlthough it’s primarily an investment app, it also has features that are helpful for saving. RaizĬost: Raiz is free to download, but there are fees when you start investing. In no particular order, here are some of the most popular budgeting and savings apps available to Australians. Best Budgeting Apps of 2023 based on category But today, personal finance apps have become the new norm for Aussies looking to budget and save with thousands available through either Apple's App Store on iOS or the Google Play Store. It sounds simple enough, but in reality, identifying where you can spend less money and finding practical ways to improve them can be challenging.īack in the day, people would pore through receipts on a Sunday night and write all their expenditures down. With a number of Aussies copping the brunt of inflation, cost of living pressures and rising interest rates, there are a number of ways you can save including refinancing to a lower rate on your home loan, opting for a used car over a new one, cutting down on credit card interest and more. Your bank might have a good savings app tooįrequently asked questions (FAQs) about budgeting If you find you’ve got more money going out than what you’ve got coming in, you can use the planner to identify where you could be making savings.Best Budgeting Apps of 2023 based on category Once you’ve included all your incomings and expenses, the planner can add them up and let you know exactly how much money you’ve got left over once all your expenses are covered. Using a budget planner can take the heavy lifting out of doing the maths. ![]() That means it might prompt you to include some you could otherwise have forgotten. The good thing about using a budget planner is it includes a detailed list of possible expenses. Some of these might seem obvious, such as your mortgage or rent payments as well as electricity and other utilities, but others might take a bit more thinking about, such as how much you spend on going out, or lunch at work for example. The next step is to include all your outgoings. To make it easier, you can select on the frequency you get paid (e.g. The most obvious stream of income is likely to be your salary or wages. Using a budget planner to work out your budgetĪ budget planner tool is essentially an online calculator that can be used to run the sums on your incomings and expenses.įirst up, the budget planner has fields to enter in your income. Not only is having a budget is a good way of finding out if you’re spending more or less money than you’ve got coming in, it’s also a good way of staying on track of your bills, as well as setting aside money to work towards savings goals. Using a budget planner can take the heavy lifting out of sorting out your budget – you simply enter in the amount of money you’ve got coming in (such as your salary) and then put in the expenses you’ve got coming out. ![]()
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