Welcome to the Finder 4-Week Financial Fitness Challenge
Want to improve your finances? Our Financial Fitness Challenge is back, available exclusively through the Finder app.
Finder's Financial Fitness Challenge is back, it's free and it's ready to help you save in a whole new way.
The four-week challenge is designed to help you learn better financial habits and save more money using the free tools available through the world-class Finder app. You will work through four easy modules that are only available on the Finder app.
Our Financial Fitness Challenge has never come at a better time, as so many Australians are struggling to get by as a result of the coronavirus pandemic. An estimated 14 million Australians are stressed about their current financial situation, according to a Finder study of over 18,000 Australians. The research also shows that 28% of Aussies are struggling to pay their home loan or their rent.
According to the research, more than two in five Australians (41%) are saving less than $100 per month. A further 19% don't put any money towards their savings at all.
We want to change this. We want to show you how to get on top of your finances, how to have a more transparent understanding of where your money is going, and how to figure out how much you're spending on what. We make it easier than ever to know when you could be saving money on your banking products and bills. The app will find the deals for you!
Many Australians don't understand the financial products and services that they're paying for. We want to fix this problem and give you the tools you need to understand where you stand and how much you can save. The first part of the challenge is available right now, with new modules coming out each week.
Module 1: Budgeting and bills
Module 1 is all about budgeting and bills. This module will cover the ways you can stay conscious of your spending and keep track of what's coming in and what's going out. We'll show you how you can use the Finder app's insights and Spending Analytics features to stay on top of your bills and other expenditures. Not only that, but we'll tell you how to save on shopping by accessing shopping deals just in time for Christmas.
Module 2: Your credit score
The second module is one of the most important: your credit score. If you've never checked your credit score, you're not alone. According to our research, almost three-quarters of Australians (73%) have never checked their credit score. That's equivalent to 14 million Aussies that aren't aware of their financial position.
To make matters worse, of that 14 million, 9% don't even know what a credit score is. This module will answer that question, outline the importance of having a healthy credit score and suggest ways to improve it.
Module 3: Credit cards
The third week will cover credit cards and personal loans. We'll go through everything from getting the most out of your credit card to consolidating debt, and we'll show you how to compare your credit options.
It's super important to do your research before applying for any credit product, because a rejection or too many applications can negatively impact your credit score and your chances of getting credit in the future. Choosing which card or loan is right for you is one of the most stressful parts about getting credit. Our research shows that almost one in five Australians (18%) have been rejected for a credit or insurance product, and one-third of Australians (33%) fear they will get knocked back if they apply for personal credit.
If you're considering consolidating your debt or getting a new loan or card, the Finder app has a new innovative "chance of approval" feature, which will calculate your chances of being approved for a personal loan or credit card. We'll teach you how to safely check your chance of approval before applying for credit, and the best part is, it won't impact your credit score!
Module 4: Investments and savings
The final week covers our most anticipated module of the series, investments and loans. The pandemic brought a lot of attention to the stock market. Did you buy in the dip? Or were you scratching your head while crying of FOMO? In this week's module, we'll unpack the basics of investing, the different types of investments that you can invest in such as ETFs, bonds and stocks, and how to get in on the action.
The Financial Fitness Challenge is available exclusively to our Finder app members. Download the app to get access to the Challenge here. We hope that the Financial Fitness Challenge will empower you to make your money work harder for you and relieve some financial stress during this difficult time.