Old Mutual and True Love hosted an online webinar about weathering the financial storms during a crisis. This is what we want you to know...
Plan, budget and ace your financial goals
One of the key discussions the event covered was centred around the importance of budgeting. Many South Africans’ income has been affected by the pandemic and the impact of the lockdown. Some have been retrenched, while others are experiencing reduced income due to a pay cut. And when you have less income, you need to review your expenses to make sure that you adjust your budget and are still able to meet all your financial obligations.
Manage your money better
A financial coach (also known as a financial adviser or financial planner) can provide some perspective when looking at your finances, assist with setting goals and putting a plan in place to achieve it. A partnership with the right coach and a solid plan put into action can help you on your journey to financial freedom. But the cornerstone of every successful financial plan, starts with setting up a budget. When most people think about budgeting, they are put off by the tedious exercise of keeping track of all their expenses and their wallets filling up with all the receipts. 22seven is a free budgeting app brought to you by Old Mutual. It is a safe and secure app that helps you manage your money better – because you can see it all in one place.
22seven allows you to boss your money and weather the struggles of a financial crisis. The app links your bank accounts, credit cards, investments and other online profiles seamlessly in one place. It shows your balances and transactions from these various accounts and provides you with a view of all your spending, which you can easily categorise into things like entertainment, medical expenses, groceries, homeloan, etc.
It provides you with a comprehensive, real-time overview of your spending habits, allowing you to set up a more accurate budget. By making a few small behavioural changes to your spending, you too can survive any financial storm.Download 22seven and sign up, link your accounts and get started on your journey to managing your money better.