Investing & Money
piece written on the 10th October 2014 by  

I’ve worked incredibly hard this year to change the focus of my blog from just being about technology and marketing to being one that shares my journey into what I like to call Financial Understanding. The beauty of this is that I’m writing purely from a personal experience and so the mistakes I make you can learn from, and the wins you can replicate. I’ve received fabulous feedback from all of you so I thank you for that. I’ve got an exciting announcement to make though, Momentum have commissioned me to write a series of blog posts about their new online initiative called Financial Wellness. Financial Wellness is being broadcast on Kyknet (DSTV channel 144) and they’ve kicked things off with a fantastic competition, check this out:

Three people who register during the campaign, stand in line to each win a Momentum Retirement Annuity of R250,000 plus a Momentum Savings Portfolio of R500/month for 5 years.

That’s no laughing matter!

I find the concept really interesting because I’ve tested the tools they’ve launched and they’re really great, so to stand a chance to win something really is a bonus. This I’m saying in all honestly, it has nothing to do with me being commissioned to write this blog post.

Before you read on, I’d actually recommend that you register on their site for free here. There’s no hidden cost, all you need to do is register and then you’ll have access to their fantastic suite of tools. I’ve signed up and I’ll wait for you (sign up takes 45 seconds tops).

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Once you’ve activated and logged into your account I can save you some time by pointing you to the “My financial wellness” link in the top navigation. This will trigger a process that guides you and presents you with an area that assists you in setting yourself up with their 4 tool suites. You’ll have to activate each tool but that is done simply with the click of a button.

In this blog post I’m going to share a video for each tool and just give you a brief introduction – over the course of the next 4 weeks I’ll then dive into each tool individually and give you insight into my thoughts and opinions on them.

#1 MyScore

If you’re interested in a well rounded understanding of your financial position this is a great tool to make use of. You complete a number of questionnaires and in return the tool tells you not only what score you get, but what you need to increase that score.

#2 MySmarts

This is probably my favourite area of Financial Wellness, it’s a suite of tools that cover all sorts of topics such as home loan repayments, saving goals and so forth. The tools quickly and easily provide you with answers to important questions. Want to know how much you need to save each month to go on a holiday in a year? No problem!

#3 MyFintrack

I really enjoy this tool as it allows you to link your bank account to it and it then provides you with all sorts of useful information about your spending habits, incomes and expenses. It’s nice and comprehensive, but more importantly, it’s safe and secure.

#4 MyFiling

Online document storage is becoming more and more popular, we’ve seen the likes of Dropbox and Google Drive become hugely popular and this is similar, the difference is that your documents sit in your account, next to the other tools in an easily accessed place.

The whole time whilst you’re completing questionnaires, your Action Plan is updated and you are presented with a screen that shows you what you need to do still:

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There’s a great deal of information and at first it might seem a little overwhelming, but I can assure you that once you’re in the system and you’re making use of the tools, everything comes together really well and at no point did I start to feel lost or confused about anything.

Sign up by clicking here, and remember, 3 people will win a Momentum Retirement Annuity of R250,000 plus a Momentum Savings Portfolio of R500/month for 5 years.

See you next time!

Ps. For those of you who are geeks like me, be sure to have a squizz at #financialwellness on Twitter to stay tuned.