Monday, 29 July 2013

MyProsperity - A Review

I was really excited to be given the opportunity to review the new MyProsperity website.
The free online 'tool' has come at a perfect time for us. We are currently reviewing our financial situation and goals in a big way as we plan for the next 5 years with this ever-evolving family.
Like most other people, we have car loans, a mortgage, various budgets, school expenses and a whole plethora of financial things on the go.
It is becoming increasingly difficult for us to keep up.
Add the 6 kids and their daily needs and you can see how easy it is to lose touch with this most important aspect of life - finances.
I don't have a lot of time in any average day, (in fact, I have very little time ever) and I confess to placing finances at the top of my boring list. Necessary but dull!

So I joined MyProsperity to check it all out.

MyProsperity allows users to bring all their financial goings-on into the one place.
On this website, you can securely link all of your financial accounts: superannuation, mortgage, personal loans, car loans, credit cards, bank accounts, shares etc.
Your details are protected with bank level security. No-one can access your accounts or information so no need to worry about any unauthorised transactions occurring.
Importantly, you cannot make transactions from any of your listed accounts - they are purely linked for your budgeting requirements and goal setting - your personal use.
This saves you time and hassle as you won't need to open endless sites online or rummage through files to get the information from all those institutions handling your money. One password can reveal all!

It's a great way to see how you are spending your cash and hopefully saving it too.
This is a budgeting tool which operates in real time.
Once you have entered all of your bank accounts, MyProsperity can automatically organise your spending by auto-filing it into categories for you. For example, you can see how much you are spending on groceries and petrol.
Doing this the old fashioned way has proven to be a disaster for me in the past. What starts out as a well-intentioned goal, ends very quickly. I just run out of time to deal with it.

The creators of MyProsperity clearly know that this must be the case with most people.
The user friendly site has nice large prompts and simple wording to make organising your financial goals quick and clear and even a little fun! (Yes, it really did interest me when presented like this)!
Here's some screen shots:

I especially loved the Not Now button option on many of the pages! This means I can come back later and carry on where I left off when the kids need me!
Another feature of the site is a free valuation of your home or car if you so desire. You can also generate a financial score which will let you know how close you are to achieving your goals by staying on budget.
Since another financial year has drawn to a close, for us it means we can now review our goals and set new ones for the coming year. I think this program will help us draw everything together and be better organised. I intend to begin uploading my details onto the site in the coming weeks and get our busy life a little more under control. We'd love a trip to Queensland soon. We'd also love to see those loans reduce faster!
After trying it, I highly recommend the program. The fact that it can be tailored to our life and all for free is extremely attractive to us. Do have a look!
Product Talk by Nuffnang


  1. Hmm, wish I'd read this one last week - I just spent all day on Sunday painstakingly entering everything into a spreadsheet and then analysing the data! Well, I guess it was the cheaper option moneywise, if not timewise. I like the look of this product though.


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