Budgeting Software Tackling Tough Times

Budgeting Software Tackling Tough Times

In a time of credit crunches, market meltdowns and national Job Summit things might be getting tougher, but two Auckland technology entrepreneurs want to see Kiwi’s come out strongly on the other side. Co founders of Cash Control Cameron Milnes and Mark Lonergan have created an online budgeting system that helps people to manage their personal finances.

The pair developed their online system after Mr Milnes spent time working in the banking industry, seeing first hand how many people struggled with managing their money. “Kiwi’s don’t have a good track record with their finances, that’s what we want to change. With the current economic downturn simple tools, education and some help is more important than ever” Mr Milnes. One initiative they have undertaken is working with one of the country’s largest budgeting organisations, the New Zealand Federation of Family Budgeting. Jointly with the Federation they have developed a booklet resource that will start being used by families next month. While last year the pair gained the support of established online software firm, Sentient Software.

Mr Milnes comments “over the last year of development and testing we have seen people get great results at www.cashcontrol.co.nz, the next phase is about getting this out to as many people as we can”. Their goal is to get 10,000 Kiwi’s in control of their money over the next year. To achieve this they intend to gain the support of retail banks, businesses and New Zealand organisations that want to help their customers manage their money.

The Cash Control system is said to be different because it focuses on financial habits, and getting people into the right ones. There are good tools out there but the pair believe to get results, people need some help to actually make it happen. Mr Milnes comments that their system gets people started with the right habits through a step by step programme, while ongoing contact keeps them on the wagon. “It has to be really simple to set up and most importantly require minimum effort to keep going. People don’t enjoy budgeting, if it takes too long they will throw in the towel. And that’s not good for anyone” Mr Milnes.

Initially started by Mr Milnes and Mr Lonergan their online tool has been running for 14 months. A yearly membership costs $52.

ENDS

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