5 Big Benefits Of Personal Finance
Please note this blog post was published over 12 months ago and so may not include the most up-to-date information, for example where regulation around investing has changed.
Personal Finance is the latest innovation in our True Potential Investor app. It allows you to link bank accounts, savings accounts, and credit cards from different providers, enabling you to view all your transactions in a single convenient place.
Here’s some of the big benefits…
1. Automatic recording of your purchases
There’s no need to manually enter all your purchases to see where your money is going, as Personal Finance does it all for you.
This time saving feature ensures you are free to get on with enjoying life, while Personal Finance works to keep your financial well-being in check.
When you check the app, you’ll see your spending has automatically been categorised, helping you to determine exactly where your expenditure is building up. You can rename and re-categorise your purchases if necessary.
2. A clear financial picture
By seeing where your spending is focused, you’ll have a clearer idea on how to decide your budgets and goals.
It could be the case that you realise you are spending a disproportionate amount on your morning coffee. Personal Finance could help you re-assess that spending. Instead of spending £5 day on coffees, if you got that down to £3 a day, you’d be saving hundreds of pounds a year for other purchases.
Personal Finance effortlessly highlights the categories where your spending is building up.
3. Safe and secure
Personal Finance is a safe and secure place to link all your bank accounts, with your transactional data accessed securely via Yodlee. None of your login credentials are accessed or stored by us. You are fully encrypted and secured when using Personal Finance.
4. You are in control
Personal Finance is designed to put you in control of your money. You can rename and categorise transactions to give greater clarity of your spending habits, and you can interpret this data however you see fit.
It could be the case that you realise you have more money to spend in a particular category, or maybe you’ll decide you want to set a budget within a certain area of spending. You are in control of your money.
5. No cost
Personal Finance is a free feature, and comes as part of the free True Potential Investor app. You can download it from the App Store now.