We live in an era of constant connectivity, with smartphones beeping, tablets flashing and laptops popping up with all kinds of alerts. But some of these interferences are much more than just that — they can save you money.
Regardless of your financial position, it's reasonable that you want to protect your money, reduce your credit card debt and grow your future wealth. It seems more Australians are jumping on the trend to manage their money — from the comfort of their smartphone!
"Where internet banking gave people the convenience of banking at home, smartphones now give them the convenience of banking anywhere," said Pip Elliot, Roy Morgan New Zealand General Manager.
Aside from your bank's offering, what other mobile apps are on the market to help you manage your money?
Do you feel like your finances are beyond your control? The creators of Pocketbook have tapped into this sentiment to deliver an app that helps everyday Australians manage their finances.
Pocketbook automatically sorts your spending habits into the applicable categories, from clothing to fuel. It connects with Australia's major banks and seamlessly pulls your spending data to give you personalised notifications to help you meet savings goals and stay on top of pesky bank charges.
Internet, electricity, mobile phone, gas and landline bills are a reality of life. If you've taken out a car loan for a shiny new vehicle, you'll have repayments to look forward to.
Wouldn't it be great if you had an app to keep you in the loop of when bills are due? BillTracker tells you which bills are overdue, which bills are due shortly and which bills are payable in the next 30 days.
If you're self-employed, using Expensify could be a smart choice.
You can easily add cash expenses, import card transactions at the drop of a hat and keep track of billable and reimbursable expenses.
The app automatically categorises expenses, too.
If you're heading away on an overseas holiday, you still need to manage your money.
However, there's more to it than ensuring your regular payments go out of your account without a hitch. If you're playing with different currencies, it pays to know how much those souvenirs, delicacies and tourist trips are really costing.
The XE Currency app provides live currency rates so you can quickly establish the equivalent cost of an item in Australian dollars.
Your bank's app
Do your banking on the train! Most banks, such as ANZ, Commonwealth Bank, UBank and Westpac, now have their own mobile apps, which can easily be downloaded for free onto your smartphone.
These apps allow you instant access to all your linked accounts so you can transfer money, find the nearest ATMs, set up saving goals, track your spending, check your balances and pay bills.
Like the RateCity home loan calculators, which will help you work out your repayments, there are plenty of money, budgeting and planning applications on mobiles and online — so do yourself a favour by keeping on top of your financial commitments and savings plans.