Budgeting Tool Makes Financial Management Easy

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As we steadily move further into the 21st century, the way we interact with the world around us changes.

There is perhaps no area of daily life that requires a new approach more than the way we deal with our money.

And now thanks to the Internet, the personal finance management and budgeting tool offered by blog.moneysmart.co.za does just that.

What is moneysmart?

blog.moneysmart.co.za is an online personal finance management and budgeting tool that gives you complete control of your finances, allowing you to manage your money without any of the hard work.

Let’s look at the benefits of using the budgeting tool:

  • Get instant access to your ITC credit report.
  • Automatically connect to all your online accounts.
  • Allocate your transactions into budget categories, such as Groceries, Fuel, Rent, Airtime and so on.
  • Keep track of your day-to-day expenses and monthly budgets and analyse your spending habits.
  • Find ways to cut back on spending, save more money and pay off your debts faster.
  • Get top-notch financial education in the form of informative and helpful content on the moneysmart blog, Community, as well as a fun and interactive monthly financial education programme, called the Debt-Defying Action Plan.

Your moneysmart Credit Report

Your moneysmart credit report is a rich and interactive report from one of South Africa’s leading credit bureaus, XDS. It’s segmented into these significant sections:

SECTION

FEATURES

BENEFITS

Your
Credit
Score:

See how the credit bureaus rate you and if your score is above or below average – 660 is considered an average score. Understand your overall credit rating and if you’re eligible to receive credit.

Your Payment History:

See all your accounts, past and present.
Check your:

  • Current instalments
  • Debt payments
  • Account balances
  • Settlement amounts
  • Outstanding terms to pay off your debts
Have greater control of your credit payments and see how you can improve your payment profile and get better interest rates on future credit.

Your Enquiries:

See who’s been looking at your credit report. Know why a credit or service provider made an enquiry into your credit profile.

Your Negative Information:

See any:

  • Account defaults
  • Blacklistings
  • Missed payments
  • Negative listings
  • Identity theft (fraud) indicators
Ensure you stay updated on your entire credit situation.See any negative or fraudulent activity happening on your profile.

Your moneysmart Goal-Setting and Budgeting Tool

moneysmart is the best way to take control of your money and spending.

Connect to your online accounts (cheque, savings, credit cards, etc.) and create budgets for your transactions. moneysmart analyses your transactions and provides you with a summary of how well or poorly you’ve stuck to your budgets.

moneysmart is focused on helping you achieve 2 primary financial goals:

1) Paying off debts faster
2) And saving more money

With moneysmart you can set goals (to save money or pay off debt), link an account to the debt or savings goal and track your progress as you work towards achieving it.

moneysmart goals work as a virtual vision board, helping you visualise your financial targets, making it easier to achieve them.

Your moneysmart Debt-Defying Action Plan

The moneysmart debt education programme is a 9-month financial empowerment journey.

The Debt-Defying Action Plan starts with understanding your credit report and overall credit position.

It then looks at adjusting your thinking towards budgeting and spending by encouraging you to set budgets on moneysmart, prioritise and monitor your spending to start saving more.

Using tried-and-tested strategies to paying debt, the programme improves your ability to pay off existing debt while increasing your credit score and access to further credit.

Overview of moneysmart

Having complete control of your money starts with a solid understanding of your current financial position, credit status and monthly spending behaviour.

With moneysmart’s credit management and budgeting tool, you can see where you made financial mistakes in the past so that you won’t do so in future.

 

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About Author

The moneysmart community is a place for everyone to engage in conversations about not only personal finance matters but lifestyle concerns too.