Modern technology gives us many things.

New Simplsaver app can easily help you set a budget and avoid financial stress

In these days of rising interest rates and the mounting cost of living it’s more important than ever to stick to a budget. A new iPhone app called Simplsaver could be just what you need to keep your finances under control.

And it really lives up to its simple name – you enter your salary (and your partner’s salary) and enter your expenses and you can instantly see your financial standing.

Simplsaver offers a top down view of your finances which not only includes your mortgage, insurance, phone and internet bills but other monthly expenditure like your vehicle and transport costs, club memberships, streaming and gaming services and other life expenses. It’s all there.

A recent survey of more than 2,000 NAB customers showed 40 per cent were experiencing some form of financial stress and struggling to pay bills and cover mortgage and rent payments.

With Simplsaver you can clearly see when your budget is stressed but it doesn’t stop there.

It can also help you find a way out and help you balance your budget again.

If your monthly budget is in the red, all you need to do is touch that dollar figure in the app to find the places where you can make savings and deal with the budget stress.

Simplsaver can help users stay within their means and not overextend themselves.

And if you have, the app can also help rein in their spend as well.

Once you’ve entered all your information – salary and expenses – you can then take a deeper dive into how you’re spending your money.

For example, you can easily find out how much money per month you spend on coffee and other beverages per month, on streaming services and every other expenses.

You can also add one-off costs to make the app an expense tracker as well.

Simplsaver will tell you how much money you have at the end of each month.

If you’re saving for a holiday, a new car or a renovation, Simplsaver lets you add savings goals and tells you exactly how much money you need to set aside each month.

And the app is not only known for its simplicity but also its privacy with all your data stored on your phone and not shared with third parties.

The app was created by journalist Leigh Stark, a married father of two young daughters, who wanted to gain a clear and fast picture of his finances.

“I built Simplsaver because I needed to make sense of what my finances were doing,” Stark says.

“Building a budget takes time, and we’re all so time poor. I needed something that not only made sense of my finances but didn’t take forever to do it.

“I also didn’t like the idea that other budget apps used my data as a product. The number of data leaks over the past year has been staggering, and I didn’t want some random third party to have access to my budget data.

“So instead, I learned how to program, and built an app that could help people work out what their budget was doing entirely on their device.”

Simplsaver is available now in the App Store for iPhone. It is free to download and offers a $6.99 yearly subscription which unlocks more line items for bigger budgets and goes toward the development of new features.

And don’t worry Android users – an Android version of Simplsaver is already in the works and coming soon.