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Financial Planning
February 27, 2019

7 tools to boost your financial well-being

<strong>By: Dhanyal Davidson, a chartered accountant and a fintech co-founder </strong>

With little relief for the consumer coming from Minister Mboweni’s budget speech last week, it’s becoming increasingly important to manage your money better. This extends from day-to-day activities to your awareness of finance in the country and your saving and investing behaviour. As South Africa gets serious about its financial reorganisation, it may be a good idea for you to do the same. The seven tools below are a great starting point according to Dhanyal Davidson, a chartered accountant and a fintech co-founder who is part of RMI’s AlphaCode program for fintech entrepreneurs.

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<li><a href="<https://www.22seven.com/>" data-saferedirecturl="<https://www.google.com/url?q=https://www.22seven.com/&amp;source=gmail&amp;ust=1551334299305000&amp;usg=AFQjCNHfc0MttUMpuTfWNLoK5Z1EKV19yw>">22seven</a> is an app that allows you to have a snapshot of all of your accounts at once. You can link banking, saving and investment accounts to the app to give you an easy-to-view dashboard of your finances. It's visually appealing, user friendly and downloadable on both the iTunes App Store and the Google Play Store.</li><li>A local email newsletter called <a href="<https://vrlps.co/wdvM9Xk/cp>" data-saferedirecturl="<https://www.google.com/url?q=https://vrlps.co/wdvM9Xk/cp&amp;source=gmail&amp;ust=1551334299305000&amp;usg=AFQjCNHXr8VwpD-KxE0MCu_a72A1aH_dTQ>">Digest</a> helps readers stay on top of the world of finance and economics in SA. What we like about this one is how approachable it makes otherwise complex subject matter. From casual, understandable language to its use of GIFs and emojis to keep things light - it's worth checking out. Sign-up is free at <a href="<http://www.digestrsa.co.za/>" data-saferedirecturl="<https://www.google.com/url?q=http://www.digestrsa.co.za&amp;source=gmail&amp;ust=1551334299305000&amp;usg=AFQjCNE2ImfIna-Hfx_5nx1w2bTm7WcBQw>">[www.digestrsa.co.za](http://www.digestrsa.co.za)</a> and they only send one short email each weekday morning - a great addition to breakfast.</li><li>Looking for more practical advice about managing your money? <a href="<https://www.likeafuckinggrownup.com/>" data-saferedirecturl="<https://www.google.com/url?q=https://www.likeafuckinggrownup.com/&amp;source=gmail&amp;ust=1551334299305000&amp;usg=AFQjCNEv0x5Xa-fQtCIb_nDo-iwSKFrYkw>">Manage Your Money Like A F\*cking Grown-Up</a> is a recently launched book that looks to demystify some of the biggest financial decisions we make. The casual tone and conversational language makes this one an easy read. You can buy it online or in bookstores nationwide. It also has a <a href="<https://www.facebook.com/likeagrownup/>" data-saferedirecturl="<https://www.google.com/url?q=https://www.facebook.com/likeagrownup/&amp;source=gmail&amp;ust=1551334299306000&amp;usg=AFQjCNEIsDP9YIbcQBlOpGlQhGCnn-v-fA>">Facebook group</a> that provides great tips and advice.</li><li>You may not realise that the product you're using to save for your holiday or education doesn't actually give you the best interest rate. <a href="<http://www.mytreasury.co.za/>" data-saferedirecturl="<https://www.google.com/url?q=http://www.mytreasury.co.za&amp;source=gmail&amp;ust=1551334299306000&amp;usg=AFQjCNFkIp_lBKb-VdSLCm97bvey89EacA>">MyTreasury</a>.<a href="<http://co.za/>" data-saferedirecturl="<https://www.google.com/url?q=http://co.za&amp;source=gmail&amp;ust=1551334299306000&amp;usg=AFQjCNGwA0rNG8M8o7kni-6e6VQsMBo0PA>">co.za</a> is a comparison site for savings products. By providing information on your planned savings, it helps you understand how to maximise your interest earnings and even request product providers to contact you.</li><li>Looking for more complex investment products? <a href="<https://www.easyequities.co.za/>" data-saferedirecturl="<https://www.google.com/url?q=https://www.easyequities.co.za/&amp;source=gmail&amp;ust=1551334299306000&amp;usg=AFQjCNEHkIgIH7m5OkF9jmwkrw-4l_44Zw>">EasyEquities</a>.<a href="<http://co.za/>" data-saferedirecturl="<https://www.google.com/url?q=http://co.za&amp;source=gmail&amp;ust=1551334299306000&amp;usg=AFQjCNGwA0rNG8M8o7kni-6e6VQsMBo0PA>">co.za</a> offers a platform for investing in the stock market. It hosts both individual stocks and funds that you can invest in. You can even open a tax-free investment account here. They have a range of educational content as well to help you with your investment journey, and have a focus on keeping things light-hearted and fun.</li><li>Avoiding once-off expenses is key to avoiding financial woes. Mobile phones and laptops are often not insured despite their high-risk of damage or theft. Insurance can help protect you against a stressful loss. Local startup, <a href="<http://pineapple.co.za/>" data-saferedirecturl="<https://www.google.com/url?q=http://pineapple.co.za/&amp;source=gmail&amp;ust=1551334299306000&amp;usg=AFQjCNH-fKoXLgmNaF6C4QBjfnXvk46Rrw>">Pineapple</a>.<a href="<http://co.za/>" data-saferedirecturl="<https://www.google.com/url?q=http://co.za&amp;source=gmail&amp;ust=1551334299306000&amp;usg=AFQjCNGwA0rNG8M8o7kni-6e6VQsMBo0PA>">co.za</a>, makes insuring fun with its image recognition tech to insure your belongings and only takes a couple of minutes end-to-end. The app is available for iPhone or Android.</li><li>For the brave, <a href="<http://luno.com/>" data-saferedirecturl="<https://www.google.com/url?q=http://luno.com/&amp;source=gmail&amp;ust=1551334299306000&amp;usg=AFQjCNH-5YBoCm5ZihXnKyULi5DxygDWoQ>">Luno</a>.com is a local favourite when it comes to trading and investing in cryptocurrencies. With its simple user interface and bank of educational content, it makes it easy for the first time buyer to start testing the waters. It has successfully expanded into various other countries - proving its user friendliness.</li>

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