MoneyBrilliant: The all-in wealth tracker for Australians (aka the Aussie Personal Capital)

After months of being frustrated with Personal Capital being limited to the US, I found the Australian answer for tracking all your investments, spending and bank balances – MoneyBrilliant!

It allows you to link all your accounts from regular banks, credit cards, superannuation funds and managed funds to the app using Yodlee (bank level security application). With this info, the app compiles and categorises all your income and spending transactions, providing you with both a broad overview of spending habits and detailed information about specific categories of spending. This is great for tracking where your cash is going. Along with general spending, changes to investments are tracked and compiled into an overview of your net worth.

You can also set up budgets and financial goals and track your achievement of this. I’ve only just started using it, but by automatically compiling and calculating my financial data, it will save me heaps of time and give me real-time info about how well I’m going towards achieving my goals.

Here is what you’ll see on the dashboard when you log in. You can add additional features, and up in the top right hand corner you can see drop down menus to do more in-depth analysis and planning.

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A little down the track I’ll update this based on more thorough usage. Check it out for yourself and let me know what you think!

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Calculate your way to financial freedom – 10 great tools for crunching the numbers

I love numbers! And I really love playing around with calculators and spreadsheets to help me plan and manage my money. Here are some of my go-to tools for planning:

Calculating Your Net Worth

Determining your net worth (total assets less total debts) is a really powerful way to get an overall sense of your financial position. You don’t need a calculator to do this – in fact write it down on a big piece of paper will make more of an impact (here is ASIC’s online one anyway. This number gives you a clear understanding of where you need to focus your money goals – debt reduction or wealth building. Armed with your net wealth, income and investment returns, you can use the tools below get a better sense of when you might reach the holy grail – financial independence (and early retirement)!

Budgets Are Sexy Spreadsheets

As my go to, big-picture financial tracker which helps to motivate me to save and invest to reach my early retirement goal, I use the BaS Early Retirement Spreadsheet (.xls download). There are a bunch of other spreadsheets compiled by this blogger which can be found here Best Budget Templates.

ASIC’s Money Smart

The ASIC Money Smart website has some excellent calculators which are handy to get a sense of how changing your spending/saving/investments/super will impact your wealth in the long term.

To check out the list of calculators and tools go here: https://www.moneysmart.gov.au/tools-and-resources/calculators-and-apps

Some of the top picks are:

Other handy calculators:

I’d love to know if there are any great tools, apps or calculators you use to plan and manage your path to financial freedom.

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