Bill Sense is a new CommBank app feature that predicts when future bills are due to help customers, particularly millennials or those new to budgeting, to stay on top of their finances.

The new feature allows customers to see up to 12 months in advance exactly how much money they will need to cover bills each month. The feature predicts bills by estimating upcoming regular or variable payments made on previous payments made from their bank account or card.

CommBank's new product comes after research commissioned by the bank found that 70% of the 1,035 millennials (aged 24-39) surveyed struggle to prioritise their finances, mostly because thinking about money makes them anxious.

Need somewhere to store cash and earn interest? The table below features savings accounts with some of the highest non-introductory and introductory interest rates on the market.

Update resultsUpdate
BankSavings AccountBase Interest Rate Max Interest Rate Total Interest Earned Introductory Term Minimum Amount Maximum Amount Minimum Monthly Deposit Minimum Opening Deposit ATM Access Joint Application TagsFeaturesLinkCompare
4.40% p.a.
5.75% p.a.
Intro rate for 4 months
then 4.40% p.a.
$980
4 months
$0
$250,000
$0
$0
Featured
  • Bonus rate for the first 4 months from account opening
  • No account keeping fees
  • No minimum balance
0.55% p.a.
Bonus rate of 4.95%
Conditions apply.
5.50% p.a.
$1,128
$0
$100,000
$1,000
$0
1.20% p.a.
Bonus rate of 4.20%
Conditions apply.
5.40% p.a.
$1,107
$0
$250,000
$1,000
$0
  • Earn up to 5.40% pa by depositing $1,000 in the previous month
  • No account fees
  • Easy access to your money
4.75% p.a.
5.35% p.a.
Intro rate for 4 months
then 4.75% p.a.
$1,001
4 months
$0
$249,999
$0
$0
Featured
  • A high-interest online savings account with no monthly fees, easy withdrawals and award-winning digital banking
  • No withdrawal notice periods or interest rate penalties
0.50% p.a.
Bonus rate of 4.85%
Conditions apply.
5.35% p.a.
$1,097
$1
$50,000
$500
$1
  • Maximum Age - 24
0.10% p.a.
Bonus rate of 5.00%
Conditions apply.
5.10% p.a.
$1,044
$0
$250,000
$200
$0
No monthly fees
  • Download the App to open your account
  • Get better visibility of your spending within App!
  • Deposit $200 per month to activate bonus interest
0.05% p.a.
Bonus rate of 4.95%
Conditions apply.
5.00% p.a.
$1,023
$1
$250,000
$20
$0
  • No fees or penalties for withdrawing money
  • Savings guaranteed up to $250,000
  • Maximise your savings and reach your goals faster with Auto-Savings
0.05% p.a.
Bonus rate of 5.45%
Conditions apply.
5.50% p.a.
$1,128
$0
$50,000
$1,000
$0
For customers aged 14-35 years
0.05% p.a.
Bonus rate of 5.30%
Conditions apply.
5.35% p.a.
$1,097
$0
$250,000
$1,000
$0
Important Information and Comparison Rate Warning

All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here. Rates correct as of . View disclaimer.

CBA Head of Behavioural Economics, William Mailer said a third of Aussie millennials are aware they're guilty of making too many impulse purchases but that they struggle to make a budget and stick to it.

“Managing today’s finances, while also preparing for tomorrow is difficult for anyone. It’s no surprise that our recent survey showed that so many young Australians are facing some level of financial anxiety with these decisions," Mailer said.

Despite the research finding that many millennials struggle to prioritise their finances, it also found that exercising daily (50%), paying their bills on time (48%) and knowing how much money is in their bank account (37%) are their top three stress relievers.

The research also found that when it comes to the daily 'small wins' 70% of millennials said being in control of their finances gives them the biggest sense of accomplishment including paying their bills on time (55%), knowing how much is in their bank account (44%) and knowing what bills are coming up (30%).

Dr Gina Cleo, Director of Habit Change Institute said achieving small wins is linked to confidence, which is a key driver in reaching long-term goals.

“When millennials believe in their ability to set realistic goals, they become motivated to achieve these milestones. It is through creating daily habits that we can seamlessly implement into our routine that we begin to alleviate stress and start to make consistent, impactful strides towards our long term goals,” Cleo said.

When compared with those who weren't aware of their upcoming bills, millennials who were aware of what bills were coming up were three times more likely to believe they will achieve their long-term savings goals.

The research also looked at what financial and budgeting tools millennials use. A third of those surveyed admitted to not using any budgeting tools, while of those who are using tools, over 40% said they only do so every fortnight or less.

It also revealed millennial men were more likely than women to feel pressured to have the latest technology and fashion and spend all their money on these.





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