Five free apps to help you reach your financial goals

Whether you’re fed up with the boss and looking to start your own business, or simply looking to pay off your home loan faster – the old adage ‘you need to spend money to make money’ doesn’t necessarily always ring true.

The following five apps can do everything from helping you trim the fat on your spending habits, to working out whether you can actually afford that next big mortgage.

They’ve all been created by the Australian Securities and Investments Commission (ASIC) and are available for free on Google Play and iTunes.

1. Mobile Calculator app

You’re out with your friends on a Friday night and one of them proposes an impulse trip to the day-spa or game-fishing.

Before committing to the $300 extravaganza, excuse yourself to the restroom and see whether or not you can really afford it.

The Mobile Calculator app helps you make lightning-fast financial decisions by combining its four most popular calculators:

– Savings calculator – allows you to quickly see how fast you can save for your next big purchase.

– Loan calculator – Owe someone money? Work out a repayment schedule in seconds.

– Mortgage calculator – Calculate what might happen to your budget if interest rates go up.

– Interest-free deal calculator – Did a salesman just offer you an interest-free deal that sounds too good to be true? Work out the real cost if you make repayments in line with your current budget.

2. TrackMyGOALS

Ever used one of those exercise apps? A 10,000 steps per day one, for example.

Well the TrackMyGOALS app is similar, but just for finance.

The app integrates a range of savings techniques known to work for successful savers.

It helps you create realistic savings goals by working with you to prioritise them, as well as providing a little bit of positive encouragement along the way.

3. First Business app

Sick of being chained to the desk, making someone else rich?

Well, before you do something you might regret down the track, it’s worth taking a look at the First Business app.

It can help you determine whether you are in fact ready to launch a new business, keep track of any requirements you might have otherwise overlooked, help you develop business networks, and save and compile useful information.

4. TrackMySPEND

Out of sight, out of mind, right? Wrong.

It might be tempting to ignore your bad spending habits, but that won’t help you achieve your financial goals.

A winner the Government Services Award at the 2013 Australian Mobile Awards, this app will help you track your day-to-day spending and discover areas you can save.

5. MoneySmart Cars

Saving money when purchasing a new car doesn’t mean you have to risk cruising around in a lemon.

The MoneySmart Cars app not only gives you an initial calculation of what your car will cost, it goes into the nitty gritty ongoing cost details by inputting details of your car and loan options.

The app will also help you identify any hidden costs that may be lurking under the bonnet, and provide alternate financing options.

Final word

There are hundreds of other finance apps out on the market, some free, others not. If you’d like to find out more come visit us and we’ll run you through the other financial tracking apps available to you.

Disclaimer: The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.

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