Pittwater Life April 2018 Issue

Business Life: Money
Business Life
Good A look reason at how for tourism goingis
‘nuts’ changing this the festive Apple season Isle
I
could have started this article
When writing about
with the financial line: “Eight innovation guys one
walk into of the a bar” perspectives but it would I
can have share been with a joke you in is search from the
inside of a punchline of a fintech as our company muchanticipated
in my motorbike case has been tour of
which
rolling Tassie started out the fast-growing
with a major
Acorns systems app. breakdown Since launching at Sydney
in Airport Australia and in a lengthy early 2016 pause the
app at an now airport resides pub. on Some the smart four
phones hours later of around we finally 350,000 landed in
Australians, Launceston, that’s sober roughly mind you, 1.5%
of ready the to population. start our long way
’round If you’re the in Apple the dark Isle. about
what For I’m those talking readers about, looking Acorns
is for a the micro regular investment money platform column
or you what’s are in sometimes the right place called as a
‘round-up’ I thought that app, this the visit first to one
of Tasmania its kind highlighted in Australia. some Our
firm fantastic along examples with our partners both good
brought and bad it of out what’s from happening the US
in 2015 our booming where it had tourism been sector.
Eight of for us a set few out years. on this
established
ride, The all app small works business a couple people
of and ways: as we by stopped taking a data places
feed each from day we your couldn’t spending help but
accounts sprinkle a and little rounding economic up the fairy
purchases dust in service you make stations, to the pubs,
nearest hotels, restaurants dollar and investing and everything
accumulated in between. balances
these
into Heading a mix of out exchange from Launceston traded
funds up through listed the on the Tamar ASX, Valley or,
by we you overnighted debiting at an Scottsdale amount or
regular before heading payment out from for your the
bank east coast account early to the your next Acorns day.
account. On the road Most to users St Helens enjoy we the
round up feature of Acorns as
it allows them to save while
they spend. As a parent of
teenagers I think I’ve come
to the conclusion that apps
such as Acorns using a blend
of psychology and technology
may be the only effective way
to get modern kids to save
because they sure do know
how to spend.
Acorns works because the
principles underlying its design
came across the town of Derby
around breakfast time. Derby
must sit as one of the best case
studies of transformation from
old to new industry as the town
are evolved firmly from rooted its mining behavioural and
finance: logging background investing small to one
amounts now based on around a regular tourism. basis that
won’t Derby’s be missed history combined was deeply with
investing rooted over tin mining, an extended an activity
period that peaked of time in to the average late 19th
into century. the markets In 1929 the smoothing town experienced
peaks tragedy and troughs. following Of local
out
course flooding it and doesn’t the hurt collapse that of it a
does dam used all of by these things mine which within
the resulted framework in 14 deaths. of a highly It wasn’t
attractive and functional user
interface – fancy words for the
app looks and feels very cool.
While these principles have
proven to be sound over time
Acorns goes on to provide an
indirect benefit to its users
in the form of education and
improved financial literacy.
Get two or more people in the
room who have an account and
you’ll find out what I mean –
when did you start? What are
until 2015 that the area capitalised
on its natural attributes
and rugged wilderness with
the development of a series of
mountain bike trails. Attracting
you crowds saving of cyclists for? What from returns Tasmania
and you the had? mainland It’s inherently last year
have
competitive the town also but hosted when a it’s leg of
combined the international with the Enduro tools and World
information Series mountain that bike the app event in
provides April 2017. it’s also extremely
informative The ABC covered – as a regular the story user
you of Derby can’t and help its but transformation
only informed December about the last year,
become
more
behaviour noting that of visitor markets numbers whether are
you currently are looking around to 30,000 or not per – the
with Brian Hrnjak
balance of your Acorns account
rises and falls in line with the
movements in markets during
the course of the trading day.
One of the challenges
any finance app would have
encouraging young people to
save and invest is to remain
relevant in their eyes. Over
the past year a number of
enhancements have taken place
following user feedback, the
headline ones being:
Found Money partners – users
can shop online with brands
such as Bonds, Dan Murphy’s,
BCF, Uber etc. and these
partners usually deposit bonus
amounts or extra round ups
into the users account;
My year Finance on the trails feature with – uses visitors
artificial staying on intelligence average four to track to five
and nights categorise in Derby spending and another and
calculate five days free elsewhere cash flow; in Tasmania.
fund The linkages to the – article allows
Super
users is: abc.net.au/news/2017-
to make deposits to a
range 12-26/mountain-bike-trails-
of industry and public
offer driving-major-change-in-der-
by/9276384. Portfolio – a socially
superannuation funds;
Emerald
responsible Our path then portfolio wound option down
introduced Tasmania’s following famous east member coast
feedback; through St Helens, the Elephant
Little Pass road Acorns at St – Marys sub accounts to
designed Bicheno and to allow veering investment inland on
on the behalf recommendation of children or of other some
dependants other old bikers under via the the age Lake of 18.
56 54 DECEMBER APRIL 2018 2017
The Local Voice Since 1991