TOOL BOX

From in­come to EX­PENSES, be­come an EX­PERT num­ber CRUNCHER.

Collective Hub - - CONTENTS - 7 FOR IN­VEST­MENT – ACORNS

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.

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