This is the modern version of an old joke – and the punchline is a startup.
Once upon a time, three strangers would normally meet in a bar. Nowadays it’s an Uber, where they exchange contacts and then go on to create an app that helps to pay bills on time.
Silje Dreyer, David Wareing and Tim Nicholas created GetReminded, a free app to reminds people when household contracts expire, from insurance to passports, car registration, your mobile phone and utilities such as electricity.
GetReminded launched last November and users now have more than 20,000 reminders set up on it.
When there’s no sticker on your vehicle anymore to remind you need to renew your rego, the dangers are obvious and potentially expensive. Dreyer says the average person has 2- household contracts they need to be reminded about, and that figure doubles to 40 for a family of four.
Combined they’re worth around $14,000 annually to an average family, and she estimates the potential saving of up to $2800 by reviewing them and seeking a better deal when the contracts expire.
“Many people are caught in a financial fog – not knowing when contracts expire for essential services like electricity, phone and the internet, resulting in overpayment,” she said.
“There are so many competitive offers it’s crazy people don’t shop around. Many just keep paying the same high rate and renew at the last minute.”
The payoff for GetReminded when the renewals come round is that it also presents a range of offers from competing retailers for you to chose from, sparking your chance to shop around.
The app is available for iOS and Android smartphones.