Wednesday, 24 July 2013


When someone mentions 'finances' do you feel like this?


If you had more savings, what would you do with them? New shoes perhaps? Or a new car? I wish I had more savings so that I can go to Japan at the end of the year and not have to worry about how much money I have!

Just the word 'finances' instills a sense of fear inside me. I am a student, so money is a constant struggle for me- I never have enough. My parents do not give any financial support, so I make do with 2 part time shifts as a receptionist whilst I study 5 days a week. Oh the life of a student! I constantly have to think about how much I have made and whether I have enough money to buy new clothes, makeup, textbooks, or whether I can afford to go out to eat. Not to mention we just bought a new car and I have to save for my trip to Nepal and Japan in December. I feel stressed thinking about it!


I know!


Introducing myprosperity! This is a website that:

• Is a simple and secure way to handle your finances.  And it's FREE.
• It securely links your bank accounts, credit cards, loans, super, shares, property, car &
more all in one place.
• Let's you see what is happening with your money by automatically organising your spending in categories.
• Let's you set goals / budgets and helps you stick to a designed plan.

Now that sounds like a good idea to me.


The first step after signing up is to calculate your 'Prosperity Score'. Sign up + set up took me literally 5 minutes!


They ask you to rate what is most financially important to you. In my case, being a student, I do not have any debt, nor do I want to retire or want to think about investing (Thank God, I don't need to worry about these things yet)


You can then link your bank account for review. Don't worry, it's completely safe.


I was quite excited I could fill in this step, as we got a car yesterday :).


What do you mean it's only worth $1,900! Haha! Very impressed with the vehicle evaluation function. It's very useful and fast. I believe you can also evaluate your other assets, such as houses, but unfortunately I have none.


These are the other wealth items that you can list to make for more precise control of your finances. I do have several Super accounts, but I have no idea where they are :S. Oh dear, another thing I need to get on top of.


The Savings plan function is also very useful for me as it automatically calculates how much you need to save for your particular goals. For example, I want to have at least 7k before I go traveling in December which is in 6 months. It automatically calculated that I need to save $478 every month to reach this goal, taking into account my current situation. Better start saving and stop spending on Stylenanda clothes!


This is what they mean by categorizing your expenses. Amazing! So now you can see exactly where your money is going. This month was an exception though as I was transferring around a lot of fundraising money for Nepal, so some numbers are irrelevant and blocked out.

Get in control of your finances for FREE with myprosperity. I will definitely be checking in every few weeks to check how far along I am to reaching my savings goal and to keep my spending in check!

p5 p6

Feeling happy and in control now :) My spending last month was quite low. And saving $400 a month to reach my goal is definitely achievable!



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