H&R Block Australia unveiled MoneyHub, a new product granting customers access to a free personal financial management dashboard.
This is an attempt to maintain their mission of providing help, educating, and offering access to financial support for everyday Aussies.
For the first time, H&R Block customers (new and existing) can access the MoneyHub platform and link an unlimited number of bank accounts and credit cards, generating a free dashboard to allow for a holistic view of their income, savings, and spending habits.
Of what use is H&R Block MoneyHub to Australians?
Users can now track their credit score, gain access to exclusive partner offers and tag potentially tax-deductible transactions over the course of the year, to then effortlessly download a complete list of potential tax deductions to take to your tax professional.
H&R Block Australia CEO Brodie Dixon said, “Managing your personal cash flow is one of the first steps towards ‘financial freedom’.”
“By offering Aussies transparency and allowing them to see all bank accounts and cards in the one platform, with some smart tools, they can get a better handle on their spending and budgeting, helping to reduce debt and increase savings.”
“They can also identify transactions that may be tax deductible, and share these with their Tax Agent, ensuring they get the maximum refund possible at tax time.”
H&R Block continue to evolve their product offering, delivering on their commitment to create convenient and intuitive processes.
Dixon stated, “Finances are the most common source of stress among men and women. Managing that stress can have real benefits for a person’s health.”
“Each year [at H&R Block], we see many clients rushing in to do their tax return so that their refund can help provide some temporary relief to help with urgent payments.”
“For many of our clients, we represent the only meaningful financial discussion they have all year with a professional. MoneyHub seeks to extend this support throughout the year and help meet a broader range of financial needs.”
MoneyHub to maintain personal financial position
Following a difficult 2020, understanding your personal financial position is pertinent.
“We’ve been reminded in the last year that life can be uncertain and the importance of financial wellness in riding out tough times.”
“Trusted by millions of clients over the last 50 years, we saw an opportunity to help clients better understand their financial position in order to make better decisions and make their hard-earned money work harder for them.” said Dixon.
“Financial wellness is a key pillar of holistic health and wellness.”
“We want to help everyday Aussies minimise financial stress, educate them in self-sufficiency, and equip them with the tools and confidence to make informed financial decisions that will allow them to plan for the future.” Dixon furthered.
MoneyHub brings H&R Block into the digital age appealing to a wider pool of Australians.
“H&R Block has long recognised the importance of financial education at an early age. We have a free school program on our website for teachers and for students entering the workforce.”
“It’s important for H&R Block MoneyHub to appeal to the younger demographic, especially those using credit cards and buy now, pay later services.”
“Many young people don’t realise that defaults on these payments may affect their credit score. This can have lasting effects on their ability to be approved for loans in the future.”
“MoneyHub aims to provide transparency and the tools to help monitor any changes to their credit score and improve it over time.”
Michael Yates, General Manager of illion’s Credit Simple platform said: “We have partnered with H&R Block to give their customers easier ways to manage their tax.
“At the same time, we are broadly offering consumers the opportunity to know more about credit scores and how these can influence their lives.”
“The platform gives Australians the opportunity to consolidate transactions related to their income and spending in one place, easily tag expenses that they think are tax deductible, and then share them with their tax agent to finalise their tax returns for the year.”
“They are also able to learn more about credit scores and use these to unlock a broader range of financial products and services.” Yates furthered.