Finance for Hippies starts the year off with its annual “Where did my money go” episode, featuring Managing Director of 22Seven, Jikku Joseph. 22Seven is an Old Mutual-backed budgeting and investing app that helps people budget and track spending on all their bank accounts.
After a December period defined by overspending for many South Africans, this episode’s conversation aims to assist people understand how to better manage their personal finances, whilst focusing specifically on looking at small expenditures that usually go under the radar that people consider insignificant but accumulate to a large amount at the end of the month. Using high-level insights from 22Seven, the well spoken Jikku helps us to understand the nature of the expenditures people mostly spend their money on.
A recent survey of Finance for Hippies listeners found that most individuals find it difficult to monitor and account for each and every expenditure in their daily lives. This contributes to issues such as the low savings rate in South Africa and spending on frivolous items. The general lack of financial literacy in a large segment of the youth in South Africa has also led to poor financial decisions.
So sit back with TeethSwag and Ndarkie and enjoy the conversation on breaking down 22Seven apps' great features, which include ability to set targets and forecasts, the ability to monitor your budget for a specific expenditure, and everything else they have designed to help you see where your money is going.