Australia's 'MyBudget' to set up a technology innovation
It is indeed an era where the husband and wife in a family knows little about the monthly earnings of each other, the expenses each of them make and their savings by the end of the month. Often this triggers conflicts.
However in Sri Lanka, there is an option to use where a company manages an individual's finances by getting his or her monthly salary into account that could solve issues that trigger within a family because of money. The largest per- sonal budgeting company in Australia ' MyBudget' manages the finances of individuals by getting their monthly salaries.
MyBudget Founder and Director, Tammy Barton during a visit to Sri Lanka last week in an interview with the Business Times explained how her company has solved many family problems in the past 19 years since its inception in 1999. Ms. Barton was recently recognised as the South Australian Business Woman of the Year in 2017.
She said, "We help individuals keep track of their finances and put together a money plan to achieve their financial goals. Their salaries are proportionated into rent, mortgage, insurance, school fees and so on and we pay all bills on behalf of them. We give our clients the structure they need to make the right decisions in achieving their financial goals, but live the life they want without having to worry about money."
This is not only for the businesspersons in Australia but also targeting the common man, she added.
"I make a really big difference in people's lives," she emphasised while elaborating that it might seem like managing someone's money is mundane and worrying but it helps people achieve their financial goals and reduces the stress in people's lives. Conflicts between husband and wife have reduced a lot in Australia, she noted.
Going back to the beginning of the company, Ms. Barton stated that ' MyBudget' started from nothing on a kitchen table to a company that employs over 250 employees today. "We manage over one billion Australian dollars on behalf of our clients. Our intention is to take the business globally, not just in Australia. We are headquartered in Adelaide with 15 offices in Australia."
Ms. Barton noted that the company will make a significant investment on a software development innovation centre in Sri Lanka in November this year.
Around 100 software develop-