Looking to better understand and monitor your spending? There’s an “app” for that, and it’s free from the nation’s securities regulators.
Today the Canadian Securities Administrators (CSA) launched a free mobile money management application (app) and interactive web site called My Make it Count to help users better understand and monitor their spending behaviour in real time.
The My Make It Count app allows users to track the money they earn and spend each day, set savings goals, monitor their financial habits, and share smart spending ideas on-the-go. Along the way, it should also help develop good financial habits.
According to a recent survey, young Canadians are struggling to manage their finances. Seventy-two per cent of Canadians between the ages of 18 and 29 had credit cards and 22 per cent had a personal line of credit. Six in 10 reported they had debt, with almost two-thirds of those reporting they had credit card debt, and 44 per cent saying they had student loans.
The easy-to-use My Make it Count app is designed to give users a greater understanding of their relationship with money. My Make it Count tracks the number and type of transactions made during a specified time period and is readily accessible from mobile devices in real time. With an increased visibility of their spending habits, users can then make smarter choices about their habits and better manage their money.
While designed to work with Make it Count – a program to help parents and teachers teach money management lessons to youth aged four to fourteen, the My Make it Count app can be used by Canadians of all ages. To download the free app, search ‘My Make it Count’ in the iTunes Store. To use the My Make it Count program, go to MyMakeitCount.ca.
The app and website are available in both English and French.
How you can use the My Make it Count App:
- See something you like in a store? Start a savings goal in My Make it Count.
- Bought a snack? Record your transaction in My Make it Count.
- Worried you are spending too much on clothes? Review your recent spending habits in My Make it Count.
About Make it Count
Make it Count information and guides for parents and instructors are available at mymakeitcount.ca and provide tips, activities and plenty of opportunities to engage youth in talking about effective money management. Order or download your free copy at makeitcountonline.ca.