Flexiwages offers it's users the opportunity to track their budget, and their spending.
How it works?
You can set weekly, monthly or annual savings goals, for things like Christmas, Holidays, a mortgage.
You can then set up Flexiwage to take the money from your wages and transfer it straight to your savings account, eg your credit union account.
You can then monitor how you are doing against your plan. If you miss a month, Flexiwage will track that, so, for example, if you wanted to save €1200 for Christmas. That would mean you need to put €100 per month into your savings. If you went on holidays in July and didn't make your savings goal, it would then calculate out the rest of the year, that you would need to save €120 per month, to ensure you make your goal.
If you wanted, over time, to improve your savings, as many Flexiwage customers have, you can set a new goal, e.g. lunch spend every day is to be no more than €3. You set this as a goal, and then, you'll get a weekly update in your dashboard, showing you how you're doing against your goal.
Ann loves flat whites. She has one every morning on the way to work, after she drops the kids to school. It gives her the lift she needs for a day at work!
There's a coffee shop beside where Ann works, and sometimes she grabs a 2nd coffee for her short break.
Ann works part time, around the kids school time. Her income is essential in terms of keeping the kids fed and clothed. Her partners income covers the mortgage and the annual holiday. Things are tight, but they get by. They're most stretched around Christmas and their summer holidays.
Ann didn't realise that she was spending €21 a week on coffee. Using Flexiwage, she was able to analyse her spending, in a way she never had before. She absolutely loved her coffee, and didn't want to give it up, but realised she could over €1000 per year by giving it up. She made a deal with herself. If she stayed off shop bought coffees for a month, she'd buy a coffee machine for at home. She did, and after her first month with instant, she then bought a machine for home, and he keep cup. She doesn't know herself, and can see her savings grow, and her budget improve. She's looking forward to this Christmas, where she'll have a fund in her savings account if she needs it, to keep the show on the road in January.