Pocketsmith makes it easy to keep track. By customising categories you can manage money for short term and long term expenses. Pocketsmith diarises upcoming payments and notes whether you have enough in your account to pay each bill. This feature is a useful way to avoid being charged late fees or have to dip into credit cards to pay last minute expenses.
Pocketsmith is New Zealand developed and plays nicely with many of our large banks. Although Pocketsmith can integrate with your bank, doing so may be against your bank’s terms of service. Syncing with your bank feeds can also be patchy, so Pocketsmith might not always have the most up to date account balances.
You Need a Budget
You Need a Budget (YNAB) works a little differently to most budgeting platforms. Although it also helps to track spending and account balances, YNAB helps you to set and stick to financial goals. The whole philosophy of YNAB is to give every dollar a job - whether that's spending or saving, the idea is to plan where every dollar will go.
Although YNAB takes a little getting used to, it's super easy to maintain the habit once you're up and running. YNAB is centered around living on next month’s income rather than coping paycheck to paycheck. This is great in theory, but it might not suit you so well if you’re just getting started on your financial journey.
If you run a small business or regularly apply for expense reimbursements, the idea of losing a large receipt might send you into a tailspin. Expense tracking apps such as Expensify or Recieptmate let you photograph and categorise receipts as you go.
Comparing options for large or recurring expenses is an easy way to cut your spending without sacrificing anything. The Pricespy app is great for comparing prices between retailers. Sites such as What’s My Number and Glimp are good for comparing recurring costs like power and broadband.
A word of warning, however. Comparison apps are great for quickly canvassing a range of options, but if you rely exclusively on Pricespy, you’ll probably miss out on some good deals from time to time.
Sometimes, no matter how well we manage our money, we find ourselves in situations where we just come short. In these times, we need a little extra help and taking out a personal loan through Harmoney, may get us the money quickly, securely and at a competitive rate.