Free online tools to help manage your money
Many Australians are worried about organising their finances. If you want to work towards financial freedom, but don't know how to budget, the internet provides a wealth of information and some very useful financial tools. Here are four Australian personal finance websites that can help you stay on top of your money.
MoneySmart is a site run by ASIC and it’s definitely one to save to your favourites as it contains a multitude of financial tools for budgeting, saving and working out where your money goes. The site takes you through every aspect of your budget from your income to financial commitments including your car and credit card payments, your home and utility costs, education and health, shopping, transport and everything else that costs you money. The free budget planner can be used online or saved as an Excel file so that you can use it offline. It allows you to get a clear picture of your purchasing habits and gain control of your money. And with the TrackMySPEND app you can:
- Nominate a spending limit (per week, fortnight, month or year) and track your progress
- Separate needs and wants to identify opportunities to save
- Create favourites so you can track frequent expenses
- View your expense history
- Add tags to categorise expenses and set spending limits for each category
The site also has links to advice on investing basics, superannuation and mortgages as well as its First Home Saver calculator.
Your Mortgage is linked to Australia's only independent mortgage magazine. It features a wealth of information for first-time buyers, owners wanting to refinance and property investors. It explains how much you can borrow, how to find a mortgage broker and how to purchase a property.
Money Manager is a Fairfax offering with a broad range of tools providing online personal finance assistance. You can compare everything from home loans to mobile plans and debit cards, ask an expert and use personal loan and savings account goals calculators.
Savings Guide is a Westpac-aligned consumer site providing information on how to save money on just about everything. It includes budgeting software and tips as well as advice on how to create a budget. The site is useful in providing pertinent information about many aspects of finance, not just the mainstream ones. It features product reviews as well as information on budgeting, getting out of debt, and consumer tips and rights.