What is Wisr Today? What you need to know about the new Wisr money management app
What’s your worst money habit? For me, it’s takeaway food - I’m a terrible cook, and I prefer to outsource the trouble. If I’m spending $35 on takeaway dinners 4 times a week, which is a pretty conservative estimate, I’m spending $7,280 per year on that particular bad habit. I know. I KNOW.
Wisr’s new launch, Wisr Today, is one of many apps that aims to combat these bad habits.
You might be familiar with Wisr from their presence in the online loans space, but this new development joins the fintech trend of apps helping you shift your spending habits.
What is Wisr Today?
Wisr Today is a money management app focused on habit-changing, using actual Cognitive Behavioural Therapy (CBT) methods in order to shift your approach to spending.
How does Wisr Today work?
When you open the app, the first thing you’ll do is take a pretty comprehensive quiz about your relationship with money. That means what your primary focus is (I’d personally like to build my savings), from paying off debt to investing in your future. You’ll also input the things you enjoy spending money on, and the habits you’d like to change.
This is also where you’ll find fun facts, like that $200 a week on dining out is roughly $10,000 a year. Ouch.
Once the app has got data regarding your financial goals and situation, you’ll be prompted to sign up for the full membership. If you choose to opt in, you’ll be prompted to start monitoring your daily money activities.
Developed with strategies from CBT, the app is designed to help you become more mindful of your spending habits and to see the long term impacts that changing them up can have.
How does Wisr Today compare to other money management apps?
There are plenty of excellent money management apps on the market, and different kinds will work for different people. We even run awards for the best of banking apps and tech, letting you find accessible everyday ways to look after your finances.
Wisr Today uses cognitive behavioural therapy, developed with clinical and registered psychologists. If that psychological method hasn’t worked for you in the past, it’s probably not going to be much help for you!
Other apps may also be connected to your bank, linked to your bank account and allowing you to directly manage your money. This streamlined process could be more your thing. There are also apps that specialise in keeping on top of your credit score, like Flux, or apps all about comparing banking costs, like Finspo.
This is a more holistic approach, and Wisr reports that users save on average $377 a week. A key difference is that many other banking apps are free, while Wisr Today will cost you.
How much does Wisr Today cost?
Wisr Today has a considerable price tag attached, though there is a free trial period attached.
A weekly subscription is $3.80 per week, with a 7 day trial period ($199.99 per year). You can also pay monthly ($29 per month, which equates to $348 per year) or bi-annually ($149 per six months, which is $298 per year), both of which offer a 14 day free trial.
Find more standout money management apps to help tackle the rising cost of living! Stay on top of mobile banking news at our fintech hub.