With over 25,750,198 Australians, there is a big chance that a small percentage of them are currently in debt. Keep in mind that the average Australian usually has a debt of 3,841 AUD on their credit cards, a personal debt of 17,700 AUD, and a mortgage of 565,881 AUD. That is why you should always be smart when dealing with your finances.
Fortunately, you can finally say goodbye to watching videos about people teaching you how to manage your finances because you can do it yourself by using the best money saving apps australia has to offer. But before you decide to install one on your smartphone, you have to learn what features you need to ensure you can take advantage of all its benefits.
- Apps to track your credit score, set up budgets, create savings pots, and view your spending history.
- Available for download on both Android and Apple iOS.
- Be mindful that some apps will ask for your bank details, including passwords so that they can access your accounts to use their tools.
At the start of the last quarter of 2019, according to 42 Matters, there were 3,070,750 Apps available in Google Play Store and 1,794,034 Apps available on iOS, with 3,756 apps being released every day across both platforms.
It’s hardly surprising that it’s so difficult to find an app that suits your needs. That’s why we’ve sifted through the hordes of mediocre apps available to find the money management apps that belong on your home screen. So let’s go!
Feature #1. Link all accounts to the app:
The first feature that should be on every money-saving app is the ability to link all accounts to the app with ease. The only way for your app to track your financial progress is by connecting to your bank account with your permission. Many Australians rely on money-saving apps because it has helped them develop better financial management.
Not only can you link one account to the app, but you can link multiple accounts that will show up on your dashboard. Every account you link will automatically be integrated into the app, and you will automatically get updated every time you make a transaction. Whether it is a subscription, credit card payment, or paying for a meal at an Australian restaurant, the app will send you notifications about the status of your account.
Feature #2. Determine how you can save more money:
The next feature you should look out for when choosing the best money-saving apps Australia has to offer is that it should have a graph where you can see all of your spending habits. You can customize it yourself and input what you usually spend within a day or a month. Once you input all of your spendings, the app will generate a graph or chart and give you a breakdown of which ones you spend the most.
You can also keep adding more to the graph or chart, and it will keep adjusting so that you have an idea of how much you spend on one section. Every section you add will show you the number of dollars you have spent and the percentage of what you use in your bank account.
Feature #3. Earn more money through surveys:
One might think that taking surveys is a scam, but that is where you are wrong because there are some Australians that make a living off of answering surveys alone. While it may not give you a ton of money, you get to earn a little bit and add it to one of your bank accounts. Keep in mind that some surveys will only take a few minutes or even seconds to answer, so you should be able to earn something during your free time.
Money-saving apps in Australia are becoming huge because many people are learning how to control their finances. As long as you remember what to look for in a money-saving app, you should be able to find the perfect one to provide you with some financial assistance.
