Introducing Money Simple, Credit Simple’s new finance and budget tracker

Aussies seem to be having a hard time budgeting, so we just released an online budget tracker to help solve that problem. It’s called Money Simple, and just like Credit Simple, it’s online and free.

You can access Money Simple by logging in to your Credit Simple account or signing up with Credit Simple, and clicking on the Money Simple tab. It pulls in information from all the major banks, so you can see your spending information in real time.

Why Money Simple? Our research, which surveyed more than 2,630 Aussie Credit Simple members, revealed that only one in five Australians are financially secure, with more than one-third of Aussies living pay cheque to pay cheque.

Three in 10 Australians considered themselves to be ‘hardcore budgeters’, keeping track of their finances regularly. Three in five Aussies said they ‘sometimes’ budget and generally have an idea of how much they are spending.

Approximately one in 10 Aussies never budget, with seven per cent saying they are ‘too lazy’ to bother with budgeting.

The survey also found that:

  • One in five Aussies stopped budgeting because it was too hard to stick to;
  • More than seven per cent of Aussies are ‘too lazy to budget’;
  • Less than half of Aussies (45 per cent) have an emergency fund in case something goes wrong, such as a medical emergency or damage to house or vehicle; and
  • One in 10 Aussies don’t budget because they are too scared to face up to the reality of their spendings, or they don’t know enough about budgeting and money to do it.

Credit Simple CEO David Scognamiglio said that people were leading increasingly busy lifestyles and budgeting was falling by the wayside.

“With low wage growth, rising energy prices and other factors contributing to high cost of living, we want to encourage Australians to start budgeting. Aussies are telling us that budgets are hard to stick to, and things like impulse buying and unexpected costs are blowing the budget. We need simple ways to track spending and stay on top of money more easily.

“We’ve built Money Simple to help Aussies live their best financial life. Knowledge is power and knowing where you’re spending your money is the first step to tweaking that spend and making it work harder for you. We think that this will help people save real money.

“We’ve incorporated flexible functionality into Money Simple – you’ll be able see your spending habits from multiple banks and finance companies and across multiple accounts. We will even show you how you compare.”

Users can filter their spending under categories such as automotive, transport, insurance, loans, dining out, personal care and dishonoured payments.

You can get your credit score instantly, online and for free right here at Credit Simple, and access the Money Simple spend tracker once you’re signed in. Click here to get started.

Credit Simple

Credit Simple gives all Australians free access to their credit score, as well as their detailed credit report. See how your credit score compares by age, gender and community and gain valuable insights into what it all means.

All stories by: Credit Simple