Friday, August 2

Budgeting, planning and making money goals stick. A review of myprosperity for Nuffnang Product Talk

Saving and planning are not exactly my strongest strengths. Combine the two together and expecting me to plan to save is much like asking the a chocolate lover to save the last square of their favourite block for you. Not exactly impossible but not exactly likely either.

Given that we are meant to be running off into the wilderness on the adventure of a lifetime next year I need to get over both my inabilities to plan and save and what not because otherwise it just ain't going to happen. There needs to be both some serious planning and saving going on in order to make it all happen.

Regular readers and those who know me well, will know that I like to think that fairies and various powers that be, look out for little old me. At random times they just seem to send me messages. Actually I think they send me messages on a fairly regular basis but I only happen to notice them at random times but that is all an entirely different post.

When I saw the callout from Nuffnang asking for bloggers interested in reviewing a new site  called myprosperity aimed at helping you take control of your money so you could do more of the things you loved, I just knew it was a message from the fairies.

So it was with great excitment and much expectation that I headed on over to sign up for a free myprosperity account. I was certain that within a few clicks my money problems would be whisked away and returned as a reasonable and practical solution that saw ends easily meeting and money being saved.

Needless to say that wasn't quite how things turned out.

After all myprosperity is merely a website to collate and organise your spending habits and financial standings. It is not actually the modern day answer to the provision of the proverbial money tree.

What myprosperity does do though is securely connect to your bank accounts and catergorise where your money is being spent. It then shows you this information in all manner of ways so as you can work out exactly how your money is being spent. Which gives insight into areas where you may actually be able to save a dollar or two.

There is also the ability to go and retag any of the allocations that the site automatically assigns to transactions

I must admit that I did have some hesitation about linking our accounts. You know internet security and all that. Turns out though that myprosperity uses ultra tight security in the same way that banks do so my fear were quickly eased. I am so glad that I did because it is one of my most favourite features.

Being able to see all the transactions from all of our accounts in the one place was all kinds of awesome and really helped to see where a lot of our funds go to. The supermarket if you are really interested.

There were are few down sides like remembering when and how much cash out you take out when paying for the groceries. And the fact it took longer than this impatient being liked for the accounts all to be linked. Which in the scheme of things is no biggie it just made me incredibly frustrated because I couldn't do some of the things I wanted it to till the accounts were linked. A wait that most certainly was worth it.

The other feature that I really liked on the the myprosperity site was the savings calculator. I quite possible spent far too long working out all the different amounts of money we *could* save over various lengths of time

I may then have even wasted more time taking screen shots because I was *certain* it would make for a great post


myprosperity also helps you to set up goals and regularly asks what financial expectations and hopes you have. Which is a great way to stay focused and head towards what you hope to achieve. There is also the option to upload documents like wills, receipts and superannuation. You can even organize your tax return. 

On the whole the myprosperity site has bucket loads of potential. Initially I did struggle to navigate my way around the place. There is a chance though that was just me being a little slow of the mark. After having been in there a few more times I began to feel a bit more at home and familiar with it all. 

If you generally struggle to devise a workable and realistic budget then myprosperity is a wonderful starting place as all the information can be easily found and accessed. For a free service myprosperity is well worth looking into. 

As mentioned earlier this post is part of  Nuffnang Product Talk I received a small gift for my time which did not in anyway influence my words, but I am sure you already knew that didn't you?

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  1. I too have started using a budgeting internet product. Fun getting $$$ sorted.

    Does myprosperity allow you to budget weekly, fortnightly or monthly?

  2. very nice. I've got a post about my miserable budgeting fiasco out next week - but I did it the hard way, typing every single thing into Excel and then analysing it. An online tool would have been SO much easier!!


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