{"id":42452,"date":"2023-10-20T15:21:19","date_gmt":"2023-10-20T15:21:19","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/this-startup-will-make-you-save-every-time-you-spend-startupsmart\/"},"modified":"2023-10-20T15:21:19","modified_gmt":"2023-10-20T15:21:19","slug":"this-startup-will-make-you-save-every-time-you-spend-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/this-startup-will-make-you-save-every-time-you-spend-startupsmart\/","title":{"rendered":"This startup will make you save every time you spend – StartupSmart"},"content":{"rendered":"
A new Melbourne-based startup wants to help you save money without even thinking about it.<\/p>\n
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WealthNation CEO Jason Kaye says digital piggy banks are revolutionising the way we save and his startup aims to get millions of Australian Gen-Y’s into the habit.<\/p>\n
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\u201cSeventy one per cent of Australia\u2019s 4.2 millennials don\u2019t save any money,\u201d he says.<\/p>\n
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Kaye, a former ANZ executive with a banking career spanning more than a decade, says the growing distrust of banks and sometimes the complexity of traditional savings methods create barriers that deter everyday people from saving.<\/p>\n
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\u201cUnfortunately, and somewhat embarrassingly for someone who worked in finance at such a high level, even I got some pretty dodgy advice that cost me and my family quite a lot of money,\u201d he says.<\/p>\n
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To address the problem, Kaye teamed up with former Expensify CFO Tony Zakula from Silicon Valley to create a secure and simple product to grow people\u2019s savings.<\/p>\n
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\u201cWealthNation is a digital piggybank that will give people the ability to save small amounts of money without constant thought, discipline and action,\u201d he says.<\/p>\n
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It works by rounding off transactions processed on every day credit and debit cards and transferring the change to a savings account.<\/p>\n
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Standing out from the digital piggy bank pack<\/b><\/p>\n
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