Best Personal Finance Software for Australian’s
Personal financial management is a vital concept that every individual needs to understand, it is unfortunate that personal financial management isn`t taught in schools so that students grow up learning how to manage their finances. This is one of the main reasons why we see people falling into financial distress. In most of the situations, severe financial stress can be avoided if individuals and families follow basic personal financial management techniques.
Don`t worry if you think you are too old to learn it because firstly the process of learning shouldn`t stop with age and secondly we live in the age of technology where technology has simplified a lot of things for us and personal financial management is one such area where technology can help us.
Over the years many programs, applications and software have been introduced that can help people manage their personal finance. In this article therefore we are going to look at some of the best personal finance software especially for people living in Australia.
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Pocket Smith
PocketSmith is a personal finance and budgeting software that allows users to synchronize all of their accounts, cards and financial data in one place, in order to monitor and manage it effectively.
Salient Features of PocketSmith
- Live Bank Feeds: PocketSmith provides live bank feeds for the attached accounts. This means that the users can see what`s happening in their accounts in real time.
- Expenditure tracking: The budgeting feature of PocketSmith allows users to track their expenditures, limit or budget them and see their spending patterns in order plan the expenditures in a more efficient manner. Different expenses can be categorized and the automated feature of PocketSmith can sort out expenses according to the preferences of the users.
- Multi currency support: Users can synchronize their foreign currency accounts with PocketSmith and get conversion rates and access to their accounts as they travel.
- Customer Support: Since the head office of Pocket Smith is in New Zealand, this means that users in Australia and New Zealand can access the customer support in their time zone with ease.
- Cashflow forecasts: PocketSmith can automatically create cash flow forecasts with the available data, users can get forecasts on monthly and annual basis, with graphical representation of data for easy understandability.
- Net worth calculator: Users can also calculate and track their networth by uploading information about their assets and liabilities.
These features deliver a powerful performance when it comes to budgeting. Users can not only track their assets and wealth but they can also plan ahead for the future and use the data and analysis generated through PocketSmith to plan appropriately for the future. Â Â
PocketSmith supports over 150 banks, the full list of all the supported banks can be accessed on the official website. PocketSmith has also got a mobile application that can give users access to their wealth on the go. It is an alternative to Mint for Australia and New Zealand, for users looking for a one stop solution for their personal financial management needs, PocketSmith is the answer.
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Simply Wall St.
Simply wall st. is an investment software that can help its users make informed investing decisions. This is a software that every amateur and professional investor must have because it makes investment into stocks just so easy.
Simply Wall St. allows users to assess the quality of different listed companies in different stock exchanges around the world. Users can have a look at the quantitative and qualitative data presented by the software to determine whether the company is worth investing in or not. One of the best things about the app is that it presents the information in a manner in which even an amateur investor can understand the meaning that is being conveyed. Unlike other investment applications, it doesn`t bombard the users with charts and data instead the data is converted into simple and striking infographics for users to understand easily.
The application employs analytical models and financial metrics that are globally recognized in order to provide the best analysis possible. The data is calculated every 6 hours, so that the users can have the latest reports at their finger tips.
The application has already got over a million users across the globe, who regularly use this app to make their investment decisions. The application has got both web and mobile versions for easy accessibility. Users in over 91 countries can use the app to track the movement of shares in over 91 countries. So you can be sitting in your home in Sydney and you not only see that`s happening with the shares of your company in the Australian stock exchange but you can also track the shares of Amazon or Tesla for instance.Â
Users can use the data to improve their investment portfolio to make it more productive and resilient to risk. Simply Wall St. is simply a must have application for investors. It doesn`t matter if you are a beginner or a professional, the application has got different investment modes for both types of investors.
Conclusion
Although there is a plethora of personal financial management applications in the market but these two applications fall in the category of absolutely vital applications that every individual must have if they want assistance in budgeting, saving and investing. A word of caution, before you upload your financial data on any app make sure that you ave carried out your due diligence regarding that application. Just make sure that the history of the application or the software is clean and that it is approved in your country. Â
Main Image Source : Pexels
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