OECD financial literacy study published in October 2016 finds many adults struggle with money matters. The study reports that adults in many countries around the world display low levels of financial knowledge, fail to engage in financial behaviours that could improve their financial security and have financial attitudes oriented towards the short-term.
Download the OECD/INFE International Survey of Adult Financial Literacy Competencies for more information on the measurement and findings.
Are you stressed about managing your money?
Most of us are at one time or another. Whether you are trying to track spending or invest spare change. According to Financial Counselling Australia (FCA) there is 2.5 million Australians facing financial difficulty.
Personal finance is the leading cause of stress in Australia according to the Stress and Wellbeing Survey 2015. This is a big problem facing almost half (49%) of Australians.
For key findings of Stress and Wellbeing Survey 2015:
Budgeting easily and efficiently
PFM tools are designed to relieve this stress and are much easier to use instead of relying on a paper notebook or spreadsheet.
Billsumo is passionate about making life easier, living stress free and offering a great customer experience. Our business is about empowering people to take control of their finances and our employees share our mission and commitment to improve the lives of our customers.
Billsumo not only helps with financial management, but it helps educate customers about their spending habits and saving decisions. This transparency of information helps pave the way for better decision making. By automating the budgeting and savings side of people’s finances it encourages them to spend and save what they can afford.
Keeping financial information secure
Even if a new PFM app or service seems reputable, it’s important to take steps to safeguard your finances and personal information. Other PFM tools present security concerns, as users are required to hand over account details and logins, which most banks actively discourage. Billsumo is unique, in that it sits inside the financial institution’s Online and Mobile environments, where trust has already been established.