Investing & Money
piece written on the 23rd October 2014 by  

It’s time to carry on with the next instalment of the Momentum’s Financial Wellness Solutions series that I’ve been working on. Thus far I’ve introduced the campaign and I’ve written about offensive and defensive money matters where I focused on the MyScore solution.

This week I want to talk about their MyFintrack solution. By definition, MyFintrack is a practical and easy-to-use online budgeting tool that shows you all your income and expenses from your different bank accounts on one page. The transactions on these accounts are automatically categorised to give you a budget based on your spending patterns. Perhaps a video will bring you up to speed quicker:

You all know how pro budgeting I am, I even created and freely shared my comprehensive monthly budget template, so when I started reviewing and using MyFintrack I felt right at home. What I like about MyFintrack is that it operates automatically, it’s online and it has a beautiful interface. Here’s a snap shot of what you’ll see once your accounts are linked:

Momentum MyFintrack Solution

Note: I am using dummy data for privacy reasons.

For a free financial wellness solution, this is pretty outstanding. It’s not limited to merely a profile snapshot, there are so many areas that you can investigate. Here are some further examples:

Fast Food Expenses
Categorise Expenses
Current and Future Budgeting

I truly think that this is a fantastic offering that everyone should take a few minutes to look at because I’ve only revealed some of the many great features.

With these solutions you’ll be able to see where you’re spending your money and with that knowledge it makes saving money a great deal easier. I’ve budgeted for a number of years and I’m a perfect example of someone who learnt where his money was going and then cut back carefully – from that I was able to free up money that I then used to open some investment accounts. It’s not rocket science at all, it just takes actually doing it! Once you start, maintaining it is easy.

Create an account and give MyFintrack a try, I think you’ll be pleasantly surprised. It’s free as well!

3 people will win a Momentum Retirement Annuity of R250,000 plus a Momentum Savings Portfolio of R500/month for 5 years.