Always up-to-date transaction data
Why fuss with manually downloading and cleaning your transaction data? Pocketbook does it safely and automatically... and keeps it up to date.
Automatically categorise your transactions
Why bother with Excel formulas? You'll find 80% of transactions already smartly categorised. McDonald's is "food", the pub is "drinks".
Perfect charts for analysing your spending
Why waste time thinking about different ways to visualise your data? Our analyse feature have figured it out for you.
Recommended by financial professionals
Financial planners and accountants recommend Pocketbook to their clients. We make everyone's life easier.
Budget using Pocketbook like Rebecca
"Since using Pocketbook, I feel more in control of my money."
"I love that it reminds me if something is unusual, like a forgotten bill payment."
Rebecca, Web Designer & Founder GorgeousiPadCases.com
Why is saving money important?
Saving money is critical to anyone's personal finance plan. In fact, according to US company Fidelity Investments - the top 2 new years resolutions people have is spending less and saving money. While everybody wants to do it, only a few really have the desire and discipline to make cutting back work. Most Australians will not have saved enough for the lifestyle they want to have at retirement.
Saving money is important because it is easier to control than making more money for most people. In order to cater for extra-ordinary spending needs to get to financial goals sooner, making saving a way of your life is a must. Once saving money is made to feel easy, the happier you will stand to be today and tomorrow.
Tips on how to save more money
There are a number of ways people use to make sure they save regularly:
- Translate savings goals to actionable things - Often the goal for why you want to save is large and way into the future - $5,000 for a holiday in a year, or $35,000 for a home deposit in 2016. These are daunting to think about and often don't translate very well to what I can do today. Even something as simple as save $50 a week is hard to mentally manage to. A tactic great savers employ is to translate the $50 to 1 less meal eating out for example. This way, the goal of eating out 3 nights instead of 4 every week is easier for you to mentally focus on.
- Set up separate accounts or get a mortgage - A lot of successful savers use this as a way to discipline themselves into saving. By having a discrete account for what they want to save for and setting up regular money transfers right after they get paid, the money is locked up, out of sight, out of mind. Investment property buyers will also get the benefit of their house increasing in value. Which is happening at rapid rates in Australia over the past few years.
- Bank any tax-return, refund and lottery win cheques - A chronic problem of those who let their finances go out of control is that they look at extra-ordinary incomes as a bonus for them to spend, rather than save it for a rainy day.
- Compare prices and reduce wastage - Why pay more for the same thing? So many people do. Supermarkets offer item level pricing on their shelf price tags, and there are plenty of comparison websites for things like car and health insurance. There really is no excuse to pay more unnecessarily. Beyond this, it's also worth understanding what you don't need or use. Why pay for optical extras in your health insurance if you don't wear glasses? Why buy a 2 litre bottle of milk when you chuck out 1 litre every week? Lots do.
- Invest a portion of your savings if possible - The interest rate offered by banks today typically sits at 3%. Yet, with a good term-deposit or savings account, this can be closer to 5%. Outcomes in risker investments like the share and housing market are often better still. So if you have enough savings, and you don't need your savings as liquid cash, then invest it wisely for a boost.
- Understand the true cost of your spending - Finally, and most importantly, really understanding your spending habits lays the foundation for any savings program. Upon studying bank statements and receipts, many people are confronted with how much unnecessary spending they do. An example is the $2 they spend each time they use when taking money out from another bank's ATM. With a bit of planning and your bank's mobile app handy, it's easy to get rid of this type of spending in your life altogether.
How Pocketbook helps you save money
We created Pocketbook as a tool to help make managing your personal finances ridiculously simple. Part of this is to make sure you have all to tools to make smart decisions when it comes to saving money.
As a starting point, Pocketbook takes 60 seconds to tell you about your spending habits. Syncing with your bank to pull your transaction information and categorising 80% of your transactions so you can quickly understand what you spend on things like food, car and home.
Another feature to keep you on save is our Safely Spend feature. Which keeps you focused on a weekly spend amount for you to work to. Constantly updating as you spend through the week so you can quickly figure out what you need to adjust to stay under.
This is just a start, we hope to include more ways to help you save and reach your financial goals in the future, including a goal setting feature and suggestions on how what you can save more on what you currently buy.
Quite simply, if you want save successfully and save more, then Pocketbook is the personal finance tool you must have.
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