From income to EXPENSES, become an EXPERT number CRUNCHER.
7 apps to help you manage your finances like a boss
1 FOR BUDGETING – WALLY
Personal finance app Wally helps you compare your incomings to your outgoings, understand where the cash disappears to and stick to a personalised, built-in budget. It keeps you accountable by tracking the details of your spending – the where, when, what, why and how much – and it uses receipt-scanning tech so you don’t need to manually enter every dollar spent and, kindly, does it all for free.
2 FOR SAVING – DIGIT
Like a little savings ninja, Digit connects with your bank account, analyses your income and spending, and sniffs out money that it can safely set aside for you in a zero-interest savings account. Sound suss? It promises to never transfer more than what you can afford with a ‘no-overdraft guarantee’, and a text is all it takes to cash in your savings. We’re sold.
3 FOR TRACKING YOUR SPENDING – SPENDEE
If simplicity is your bag, Spendee is your app. It tracks what you’re doling out on everything from groceries to rent and takeaway dinners, presenting your spending habits in a seriously slick-looking, well-designed interface. The basics are free, and a couple of dollars a month activates features including ‘shared wallets’, where you can keep tabs on your joint spending.
4 FOR BOOKKEEPING – WAVE
There’s a bounty of bookkeeping software options out there – FreshBooks, Xero and QuickBooks, to name just a few – and Wave is an especially affordable one. Currently used by millions of small business owners, it manages your accounting, payroll and invoicing (for free), and connects you with a local accountant if you find yourself in a sticky spot.
5 FOR INVOICING – INVOICE2GO
Any freelancer will tell you that invoicing is their least favourite part of the job, so apps like Invoice2Go are a godsend. This one allows you to speedily create and shoot off invoices (saving customers, so says their site, an average of three hours a week) and can be set up to send out friendly reminders when a payment is approaching, due or late.
6 FOR TAX – ATO APP
Managing your tax can be… taxing, but less so with the Australian Taxation Office (ATO) app. Designed for individual tax payers, small business owners and self-managed superfund trustees, it gives you access to online services, allows you to lodge and track your income tax return and helps you calculate how much tax to withhold so you don’t get stung come July 1.
Think investing is out of your reach? Micro-investing app Acorns squirrels away your spare change into one of five diversified portfolios, each with varying degrees of risk. Connecting to your bank account, it rounds up every purchase to the nearest dollar (a $3.50 coffee, for example, would see 50 cents invested) and sinks the difference into your portfolio. Next stop, Wall Street.