New year, new financial you! Apps to save your pennies

By Angela Brackenridge

Don’t you hate rejection? What’s worse is when it comes from your bank. Tighter lending conditions have made it harder for borrowers to secure loans; with many not meeting loan criteria. We know the frustration that comes from meeting with your bank, only to be told that you just aren’t financially ready.

Here’s what you can do today that will set you up to be the perfect match for lenders in the future.

Save your pennies.

We all know that nothing worth having comes easy, so you may have to forgo the avo toast for a few months. Savings are not only essential for a deposit, but also show that you are capable of making repayments. Tracking your money and knowing where you can cut unnecessary spending is key to saving and getting in a better financial position.

Ditch the excel spreadsheet, there’s an app for that!

TrackMySPEND is a free app by ASIC’s MoneySmart, designed to help you track weekly household budgets, costs for special events, travel expenses and more. The app lets you nominate spending limits and track your progress. To further track your savings goals, download TrackMyGOALS

Mint allows you to get your bills and money together in one place, alerts you when bills are almost due, and suggests budgets based on your spending patterns. Life is good when your money is under control.

Consolidate your debt. Took out a personal loan for a holiday? Gone a little ham on the Christmas shopping? Talk to your Loanmarket broker about consolidating your debt and moving it all to one place with a lower interest rate.

Read the original article here as published on

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