Let's start with an easy one - how do you normally spend?
I prioritise quality over quantity. I'll invest in good skincare brands or makeup, purchase long-lasting or durable clothing, or a good mattress - which makes me great at saving for short term goals! My weakness is probably lunch for work, I buy that quite often.
What was your relationship with money like before Wildcard?
My cashflow is generally pretty bad. I’ve always been ‘comfortable’ and never really worried about paying bills or affording things, but then some weeks I’ll live pay cheque to pay cheque, so I’ve also never been good at saving for a rainy day.
I think bad habits have formed because no one has ever really kept me accountable for my money.
Have you actively tried to budget in the past? Did you use any tools to help?
Yes, and nothing’s really worked. I’m pretty sure everyone has tried Barefoot Investor, and apps like Pocketbook. I have tried keeping spreadsheets but I don’t have the time to pour over every detail.
I‘ve always been pretty independent in managing my affairs - I find most of these tools need you to be very precise with what you want, or require you to do a lot of life admin, or have accountability partners. And I don‘t really have either of those things.
How did you hear about us, and what convinced you to give Wildcard a try?
I’m pretty sure that I saw the ad on Instagram and scoffed because I thought it was another neobank. Being a bit into the start up world, I decided to have a look and realised that it wasn‘t a Xinja or an Afterpay, it was an app that wanted me to figure out my shit and would do it for me.
When the lightbulb went off, and I transferred that neat $5.00 and saw the little $0.05 ticking over, I was sold because I‘m all about delegating and outsourcing my problems :P
What’s your Wildcard set up like?
Right now, I give myself $1000 a fortnight into a Pay Account and let it drip into both a Spending and Savings account. I have started experimenting with more expenses, like my Opal card, although I did almost screw up paying rent thinking I could BPay (I hear it‘s a work in progress though!). Unfortunately transferring all my accounts takes time and there isn't enough wine in the world to carry me through doing it in one night!
My Wildcard has replaced my other ordinary card. I almost exclusively carry only my iPhone and keys, and only really use Apple Wallet, and so the fact I didn‘t even need a card quickly made it my go-to day to day card.
Now that you've been using Wildcard for a while, how do you feel it's helped?
It has really reframed the way I think about my daily spending. Nowadays, I wait to see until I actually have the amount of cash needed to make the purchase. I am much more conscious about how I spend my money, and so much more willing to save because I get to see it ticking away and building. I think seeing it ticking is a huge motivation for me to save.
Call me a convert, but it looks like I’m here to stay!