Eight money saving apps to maximise your savings
The increasing cost of living can make it challenging to manage your finances. Luckily, many technology apps are available to help you save money, budget effectively, and optimise your spending. Here's a list of the top eight money-saving apps you should consider trying out.
1. Raiz$3.50 per month*, available for iPhone and Android
Formerly known as Acorns, Raiz is an innovative app that helps you save and invest your spare change. By linking your bank account, Raiz rounds up your daily purchases to the nearest dollar and invests the difference in a diversified portfolio. This micro-investing approach is perfect for those who struggle to save regularly. Key features include round-ups from everyday purchases, customisable investment portfolios, automatic recurring investments and rewards from partnered brands.
2. ShopbackFree, available for iPhone and Android
Shopback is a cashback app that rewards you for shopping at your favourite stores through partnerships with over 1,300 retailers - including big names like eBay, Amazon, and Woolworths. Shopback offers cashback on a wide range of products and services and gives you access to exclusive deals and discounts. There's also a browser extension for cashback tracking, and any cashback redemption can be made through bank transfer or PayPal.
3. GoodbudgetFree, available for iPhone and Android
Goodbudget is an excellent personal finance app for budgeting, tracking debt, and managing money. You can easily share your budget and data across multiple phones (and the web) and track your expenses on the go. The app is based on the envelope budgeting method, and the free version includes ten regular envelopes and ten annual envelopes. If you upgrade to a monthly plan (starting from $8.49), you will receive unlimited envelopes, automatic bank sync, and access to 7 years of transaction history.
4. FrolloFree, available for iPhone and Android
Frollo is a free money management app that can help you improve your financial situation. It has no subscription fees and provides an easy, secure, and private way to gain a comprehensive overview of your finances. The app offers real-time insights and helps you focus on making intelligent savings decisions. You can view all your accounts in real time from one place. According to Frollo, users increased their savings by an average of $520 within the first three months of use!
5. GetRemindedFree, available for iPhone and Android
GetReminded helps you to save money and reduce stress by managing your regular and annual expenses. The app sends intelligent alerts to your phone and email, along with relevant partner offers, so you can conveniently compare prices straight from the app. And you'll never forget to renew essential personal identity documents like vehicle registration, licences, and passport. It's also a simple way to save money when renewing contracts and plans, allowing you to avoid overpaying for insurance, streaming services, internet and other everyday commitments. The all-in-one app will help you to save money while organising your expenses.
6. WiseListFree, available for iPhone and Android
With the cost of just about everything increasing regularly, it's a smart move to compare prices. No time for that? No worries. With WiseList, you can create your grocery list and compare item prices at Coles and Woolworths to know where the best buys are. You can even set up alerts for specific items to get notified when they are on special.
7. YNAB (You Need A Budget)Free with in-app purchases, available for iPhone and Android
YNAB is a budgeting app designed to help you manage your finances. By encouraging users to give every dollar a job, YNAB helps prioritise your spending and save money effectively. The app features real-time expense tracking, goal tracking, progress reports, budget personalisation, and loan repayment management. With YNAB, you can always know whether you can pay off your credit card balance; if not, the app will help you plan to do so.
8. SplitwiseFree, available for iPhone and Android
Splitwise is a must-have app for anyone who shares expenses with others. Whether splitting bills with roommates, dividing dinner costs, or sharing expenses on a trip, Splitwise ensures everyone pays their fair share. It provides easy expense splitting and tracking, detailed expense reports and summaries, and notifications for upcoming payments. Splitwise comes with handy features like splitting expenses equally or unequally by percentages, shares, or exact amounts, adding informal debts and IOUs, creating recurring bills (weekly, fortnightly, monthly, yearly), and including multiple payers for a single expense.
A final word
Managing your finances is easier than ever with these money-saving apps. Whether you want to invest in spare change, earn cash back, find the best deals, or track your spending, these apps provide practical solutions to help you save money and improve your financial health.
But if life does throw you a curveball and you don't have the financial resources to cover the cost, we're here to help. Please look at our cash loans up to $5,000 to understand how quick and easy it is to access some additional funds. Once a loan is approved, the cash is usually deposited into your bank account within a few hours - making it simple for you to manage your financial needs!