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August 31, 2018

Top 5 Australian Money Management Apps

by John_A

One of the benefits of living in the digital age is that there is an app for literally everything. When it comes to managing money, it’s important to understand that global currencies are an integral part of managing your finances. If you are a foreign national living and working in Australia, you’ll need to download and use Australian money management apps while abroad. You can always file your tax return online but for such things as making budgets and keeping track of investments, you’ll probably want to use an app on your smart device. With that said, here are the top five Australian money management apps of 2018.

1. Pocketbook

What would a money management programme be without a budgeting app? Pocketbook is a handy little budgeting app available for both Android and iOS mobile devices. Here you can create your budget by tracking your expenses and then set limits on spending. If you have trouble sticking to a budget, Pocketbook will help you by tracking what you’ve spent to date and giving you a warning when you’ve exceeded your limits.

2. Bank Apps

Every bank now has a downloadable app – or at least they should if they keep up with the times! These can help you avoid overdraft charges by keeping a running balance of your accounts and you can usually even pay bills while mobile with most bank apps. While most banks will offer their apps for Android and iOS, there may be some banks that offer a Windows Phone version as well.

3. TrackMyGoals

Sometimes it’s difficult to keep your savings goals in mind without visual reminders of where you want to be at some future date. TrackMyGoals is a Money Smart app from the developers of TrackMySpend, but this particular app helps you to set goals and then manage your savings so that you don’t lose sight of those goals. TrackMyGoals, like TrackMySpend, is available for Android and iOS devices.

4. Australian Taxation Office App

Even if you are a foreign national working in Australia, the one thing you will need to do is pay income tax. This particular app lets you calculate any deductions and come up with calculations based on figures in real time. Available for Windows Phone, Android and iOS, this app was designed to be a true cross platform tool for individuals and small businesses.

5. Acorns AU

It is free to download this investment app for Android or iOS devices but there will be a monthly fee of $1.25 on any balances below $5,000. This figure may change over time, but at the time, that is the fee the developers are charging. How Acorns works is to round any amount you spend when using your bank card up to the nearest dollar and then it invests that amount into a diversified managed investment portfolio. This is one handy way for those who have trouble saving money to invest. Acorns is designed to teach you how to save so that you have money to invest – it is NOT a get rich quick investment scheme.

So, there you have the top five money management apps for Australians. If you have trouble budgeting and managing your money, these are the apps you need to take charge of your financial affairs.

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