Psychology & Money with Christo Davel #my22seven
Last Friday I was lucky enough to be invited to attend an intro session to the finance app for humans by 22seven. They’re a mobile first company so you can do everything important from signing up to adding bank accounts on the iOS and Google Android apps. I installed and signed up while the CEO was telling the story of his past, 22seven’s present and future. He also touched on how human psychology and money collide (more in the video below).
5 things you can do with 22seven:
- Find money you didn’t know you had.
- See all your money stuff together in one place.
Link cheque and savings accounts, credit and store cards, investments and loans. - See exactly how much you spend on what.
Your transactions are gathered and updated automatically whenever you log in. They’re also automatically sorted into categories so you know where your money goes. - Use an automatic, personalised plan.
A plan, based on your own recent spending, is generated for you. Or you can easily make your own. Use it to compare what you normally spend each month with what you’re actually spending this month, and save or spend accordingly. - Make better money decisions everywhere, all the time.
If you’re at a supermarket, see how much you’ve got left for groceries. At a restaurant, see how much you’ve been spending on eating out.
Online banking has a great way of making you appear to have more cashflow available than you actually do and one of the many ways the 22seven app can help is by removing that obfuscation. I know most of you reading this are probably going to spend more than they should over the festive season so I’m starting to use the app now to ensure that doesn’t happen to me. I’d hate to have every day of January 2015 filled with the very end of the month salty crax snacks.
This post was brought to you by #my22seven a free service from Old Mutual and currently works with accounts from South African banks and financial institutions.