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It can be tough to manage your finances without a little outside help. Keeping a close eye on the money going out versus what’s coming in can be cumbersome, and without a budget, it can be easy to lose control of your debt

Thankfully, there are handy apps available that can help you better manage your finances, like Billi. With Billi, you can check on your financial health with a quick glance at the app on your mobile device. You can even use Billi to give your credit a boost through their Billi Boost feature.

Let’s take a close look at Billi and how it can help you improve your financial life.   

Who Is Billi?

Billi is an app designed to help consumers better understand and manage their money. It was developed by Canadian financial experts, web developers, and designers using a combination of automation and cutting-edge technology.

Thanks to its user-friendly interface, Billi makes it easy for consumers to view and interact with their financial profiles. With one glance at your device, you can get a snapshot of your overall spending in a year or a day at a time. Knowing how your funds are spent will make it easier for you to make more informed financial decisions.

While currently available only in Canada, the team behind the app plans to open it up to consumers in other countries.

Features Of Billi

Billi comes with several handy features, including the following:

Connect All Your Finances In One Spot

With Billi, you can connect the app with your credit cards and bank accounts. This will let you keep tabs on your money, accounts, and payments, all on one screen.   

Categorize Your Expenses

It can be hard to understand where you’re money is going when you have multiple accounts, but with Billi, you can categorize your expenses. For example, you can separate your personal loan debts from your credit card expenses. This will help you better understand how much money you’re spending and where it’s going by grouping your expenses.

Customize How You View Your Spending

Visualize the way you spend your money in a way you can best understand it. With Billi, you can view your spending on a daily, weekly, monthly, or yearly basis.

Automate Your Bill Tracking

Billi will automatically track all bills and subscriptions to help you stay on top of your expenses. Similarly, if you’d like to sort all your transactions in a particular way, you can do so using the Tap & Tally feature.

Pay Your Rent And Boost Your Credit

If you rent, you can use the Billi Boost feature to help you build your credit. With this feature, you can use your timely rent payments to help you build your payment history, which in turn can help you build your credit score. For a monthly fee of $4.99, Billi Boost will report your rent payments to the credit bureaus, which may help you build credit.

What Is Billi Boost?

One of the upgraded features of Billi is Billi Boost. This paid feature can help you improve your credit scores by making timely rent payments each month. Billi Boost will report your rent payments to the credit bureaus. This may help you build a positive payment history. However, keep in mind that payment history is one common factor used in the calculation of credit scores. 

Billi has teamed up with the major credit bureaus in Canada to help renters boost their scores without the need to take on more debt. 

Benefits Of Billi Boost 

Billi Boost offers a handful of perks, including the following:

  • Build good credit. Timely bill payments are one of the most important factors when it comes to calculating your credit scores. If you’re already making timely rent payments, you can use them to help improve your credit through Billi Boost.
  • Automate Rental Payments – Automate your rental payments by getting a reminder from Billie so you never miss a payment.
  • Get access to better credit options. Over time, your credit score may increase with on-time rent payments reported to the credit bureaus through Billi Boost. With a better credit score, you may get access to more credit products, and be able to secure lower rates and higher credit limits. 

How Does Billi Boost Work?

To use Billi Boost, follow these simple steps:

  1. Join Billi – You can sign-up for Billi Boost online via Billi’s website. Simply click the button ‘Boost Your Score’ to get started.  
  2. Provide Your Details – Share some information about yourself and where you live. 
  3. Connect Your Bank Account To The App – Billi Boost will find your rent payments, no matter how you make them (ie. via cheque, e-Transfer, etc)
  4. Build Credit – Build your credit with each reported monthly rent payment 

Is Billi Safe? 

Billi uses robust safety and security features to keep your personal and financial information safe.

While using Billi, the data that is transferred from your device and the Billi servers is encrypted. This means no one can read it during the transfer. The secure encrypted database is inaccessible from the internet and is kept safe behind several firewalls.

Billi FAQs

Where is Billi available? 

Billi is currently available in Canada only. However, the team plans to open up accessibility to others across the globe. 

How much does Billi Boost cost?

Billi Boost costs $4.99 per month.

Is Billi available in Canada?

Yes, Billi is available to all residents of Canada. 

Final Thoughts On Billi Boost

Billi is an easy to use money management app. A simple download of the Billi app can help you track your expenses and understand where you’re spending your money.

But, the main feature that sets them apart is Billi Boost. With this feature, Canadian renters can use their rent payments to help build a healthy payment history. Payment history is a common factor used in the calculation of your credit scores. Meaning a healthy history of on time payments can have a positive impact on your scores. Billi Boost comes with s $4.99 monthly fee and reports your rent payments to the credit bureaus. This app would be a great addition to any Canadian renter looking to improve their credit and manage their finances.

Lisa Rennie avatar on Loans Canada
Lisa Rennie

Lisa has been working as a personal finance writer for more than a decade, creating unique content that helps to educate Canadian consumers in the realms of real estate, mortgages, investing and financial health. For years, she held her real estate license in Toronto, Ontario before giving it up to pursue writing within this realm and related niches. Lisa is very serious about smart money management and helping others do the same.

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