PennyNest
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AI Financial Advisor (Demo)
Mock conversation using sample financial data
Your food and dining expenses are 35% higher than similar households in your income bracket. You spent $685 this month compared to the average of $508.
Set a monthly food budget of $550 and track meal prep vs eating out
I've identified $145/month in subscriptions that you rarely use. This could save you $1,740 annually.
Cancel or downgrade low-usage subscriptions
Your savings rate of 49.2% is exceptional! You're well on track for your financial goals. Keep it up!
Your portfolio is heavily concentrated in property (58.8%). While property is solid, increasing diversification could reduce risk and potentially improve returns.
Consider reallocating 8-10% into index funds or ETFs
Your investment portfolio has outperformed the benchmark by 1.5% over the last 6 months. Great job!
Your ANZ Platinum card has a 19.99% interest rate with an $8,800 balance. This is costing you approximately $146/month in interest. Prioritize paying this off!
Allocate extra $500/month to pay off in 18 months, saving $1,314 in interest
Your home loan rate of 5.89% is slightly above market average. Refinancing could save you approximately $2,400 annually.
Consider refinancing with lenders offering 5.39% or lower
You can contribute an additional $12,000 to your super before hitting the concessional cap. This could save you approximately $4,320 in tax.
Make a pre-tax contribution of $12,000 before June 30
Don't forget to claim depreciation, maintenance, and interest on your investment property. Average deductions are $8,500-$12,000 annually.
Engage a quantity surveyor for depreciation schedule