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Chapter 1: What personal finance apps are discussed in this episode?
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Please remember that all of the information in this podcast episode is limited to general information only. That means the information is not specific to you, your needs, goals or objectives, so you should seek the advice of a licensed and trusted financial professional before acting on the information.
And before you acquire or apply for a financial product, please read the PDS or Product Disclosure Statement which should be available on the issuer's website. Lastly, please keep in mind that past performance is not indicative of future performance. Kate, welcome to this episode of the Australian Finance Podcast.
It's good to be back, Owen. And we are talking about something that we get a lot of questions about today, which is personal finance apps. What ones are out there for Australians and some of the ones that maybe we've tried ourselves or we've had good feedback from from listeners before?
Yeah. And it's one of those things. I think we covered in like an early question and answer session. And then we took the episode offline. And then I think people were like, oh, where'd it go? And now we thought, well, hey, we'll bring it back. And we've got a heap of cool stuff here. Just a quick note on this. We did not get referral fees or anything from any one of these
different apps or services. So they're definitely not recommendations or endorsements. We're just sharing with you some cool stuff that we use or that we know friends of ours use and find really useful. I think, Kate, you've got about 10 accounts, maybe 20 with some of these. I do the legwork. So Kate knows all about it. But she's also, Kate's also bucketed each of the apps for us.
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Chapter 2: How can record-keeping apps simplify tax time?
Yeah, it is.
Here, let me write you a check.
Yeah, a lot of transfers happen quite quickly. Like when I pay people from other banks, just through my normal banking system, it arrives same day now. But it just really depends on sort of what size of the payment. I mean, Beam, it does have payment limits, I think of a grand or two. But yeah, I mean, I haven't used it for sending big amounts.
It's more just sort of dinners and activities and things like that. Just easy to pay someone on the spot and settle it. So there's no more IOUs.
Yeah, just write it down on the back of a, what do you call it, a handkerchief or a tissue. So the next thing is longevity, which is the last one in our miscellaneous category, which is something I hadn't heard of before until I came across it thanks to you, Kate. It just allows you to top up your super. So if you think about all those macro investing apps, this is kind of the same.
If you're buying a... I don't know, like a dress or you're buying a t-shirt or you're buying a pair of shoes or whatever it might be. You can round it up a couple of dollars and put that extra amount of money into your super fund. It costs $20 a year or around about $20 per year. That's a simple fee just to add a little bit extra.
I've got a note here just to say that if you do set this up, just make sure you get your account details correct because once money goes into super, you ain't getting it back. And if you put in the wrong super details,
like you're not getting it back so with all of these things just make sure you take your time set it up properly make sure you have all of your details and it's working before you go and commit a lot of money to them yeah and absolutely you can put money into your super anytime you like but um most people don't so this is a i guess this app occurred out of that sort of need
for money to go into your super without thinking about it so yeah you cannot pay $20 and do it yourself I mean I've personally add myself to super but you do need to keep track of that as well if you're claiming any deductions and stuff like that so I guess it's just yeah one app that's sort of evolved you could also to solve that problem if once you've set up your super account as a
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Chapter 3: What budgeting apps can help manage finances effectively?
And then you're like, yeah, sure, why not? And then on the checkout page, it kind of like automatically refreshes with the new price. So you might just be sitting there and it costs nothing, by the way. It's just a crazy thing. You might just be sitting there and then you're like, oh, yeah, click the button, whatever. And then you get 10 or 20% off. And it's just like, what?
Where did that come from? It's like free money. So it's such a cool thing. And at the moment, I just looked at it this morning and it's got KO. So that's Sporting Channel. It's owned by Foxtel, I believe. And it's got RSVP so you can get your sporting and your dating all in one on a discount. So check it out, folks. Super cool. Okay.
That old need where you used to Google like, oh, what's a coupon code for this? Like when I tried HelloFresh a few months ago at the start of the lockdown, I just needed something to change it up and I knew that HelloFresh market like crazy. So I just Googled for different coupon codes and I found one
they all come up like straight away on google and i tried a few out found the best uh found the best deal so um yeah you can be like kate or you can let honey do it for you and i can go and find the honey problem yeah totally um there's one more that i want to get to which is something that i've mentioned i think here when i was doing a speaking thing um which is eat club
An Eat Club, Australian app. I know it's available in the major cities, Melbourne, Sydney. I think it's in Perth. It's in most of the major cities and in and around the CBDs, like the kind of metropolitan areas. And effectively, it's free. And if you're eating out at restaurants or cafes or whatever, it'll just show you on the map where there's like a discount and it's last minute deals.
And when I say it's last minute deals, it's like ridiculous. So you might get...
um in a good way ridiculously good way you might get like 40 off for the next six hours um at your favorite local cafe and it just pops up and it's like hey it's like 40 off for the next six hours why don't you go over and check it out and this is super cool because it prompts you with things that you probably wouldn't go to but get really high reviews or ratings so it's free for you you just punch in a time you say yeah i'm going to be there in the next six hours and you go down and say hey
To the person behind the register, you go, hey, I've got this app, and you just show it to them. You show them, like, your number, and it just takes a huge amount off your bill. It's really, really cool. So that's called Eat Club. Go and check it out.
I mean, before Corona used that in Richmond, I think we pretty much got two meals for the price of one. And it was, yeah, really nice places available on the app. So it's worth having a look at that one. And I think the last one I wanted to mention is Stocard. I think Apple Wallet kind of does a similar thing.
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