Budget Manager: BillSense and BalanceSense

Recently one of the Big 4 Bank in Australia released a functionality in their Mobile Banking app called BillSense. It is a feature that analyses your transactions and predicts your future bills.

As a customer of the said bank, I understand how the BillSense work is by looking at my past transactions, and identify future bills from it. The app then asks my confirmation of which is bills, and which is not. This data then is used by the app to project future balance, and ask myself to set apart some funds for those bills.

While this is great, it is however aimed for the Millennials, in which I am not. For example, it doesn’t predict future income or other regular expenses such as dining out or groceries. Which means it doesn’t estimate future balance.

I know that I am disciplined with my spending and I have a very good idea of my regular bills. What I need therefore is a balance projection to predict when I will be able to achieve my savings or retirement goal.

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