3 Products That Will Aid Your Financial Journey
You know by now that Financielle LOVES a product that helps you on your financial journey. During our ‘Products that WOW’ week, we’ve found a few that make your life that little bit easier. We hope you’re as wowed as us!
At Financielle, we believe investing is a critical part of financial wellness. Once we have built strong financial foundations, becoming debt-free and building a solid emergency fund, we need to make our money work harder.
The trouble is, investing is intimidating to many and is often confused with the short-term trading of single stocks or crypto-currency. We believe true investing is for the long term. By investing regularly, little and often, it becomes a healthy habit like hitting your daily steps target, drinking enough water or getting enough sleep.
Being the millennials we are, we love a digital product that is simple, intuitive and makes our lives easier but that we can trust to hold our hand as we navigate years of investing. This is why we are proud to partner with Wealthify, a really impressive robo-investing platform that genuinely lets you try before you buy. There are only four things you need to choose:
- The product you want, such as Investment ISA, Junior ISA, Pension or General Investment Account
- How much you want to invest, up front and regularly
- The type of investor you are, from cautious to adventurous
- Whether you want to have an original or ethical-focussed investment theme
The beauty is you can also choose to switch up contribution amounts or change your risk profile at any point. You really are in control. It’s important to remember that with investing, the value of your money can go down or up, and you may get back less than you originally put in (capital is at risk), but the app helps you understand that when you play around.
By having the “Try It Out” feature right there on the homepage, we love that Wealthify are inviting you to get comfortable, easing you in and helping you understand what life as an active investor will feel like. This is why for us, it was the right choice for a Product that Wows. We were blown away and are using the product as part of our own investing journey for 2021.
We’ve become so accustomed to buying now, paying later and receiving it the next day that we can’t actually afford the pieces that sit in our wardrobe. So, in a world full of Klarnas, be a Cashmere. The satisfaction of saving up for that luxury bag is now a rarity, we’ve been lulled into a false sense of fashion affordability.
Cashmere has proven that just because you can’t have it all right now, doesn’t mean you can’t have it all later. Using Cashmere allows for a guilt-free and simple way to treat yourself to your dream designer items without swiping your credit card or dipping into those important savings.
We love the concept of Cashmere; here’s how it works:
- Take a look through the extensive list of luxury pieces from your favourite designers. You can even receive recommendations based on your style and budget!
- Watch your savings grow through your automated Cashmere wallet, tracking the process until you reach your goal
- Once you’ve hit your saving goal, treat yourself to the luxury item(s) of your dreams!
- Warning! May cause extreme feelings of satisfaction
Cashmere’s focus on ‘save to buy’ provides a debt-free solution to living luxuriously and ditching the ‘buy now, pay later’ way of life.
Our last product is our wild card. It’s a bit different from anything you might have seen before but we love the idea of using a community-saving method created decades ago in some pretty amazing cultures. It also manages to be super innovative as well as providing some great potential benefits.
With a heavy focus on community, StepLadder re-imagines the global financial concept – the ROSCA – as a responsible and sustainable solution to raising funds faster. Generation rent is in full force and StepLadder is here to help you on the journey to your first property through education, coaching, and simplifying information. Their use of Circles means that 90% of members get their property deposit faster than saving alone.
Let’s explain how it works:
- Once you’ve figured out your saving goal and how much you want to put away each month, you’ll be matched with a circle of people with the same financial goal
- Everyone in your circle contributes that same amount each month
- Each month, one person in your Circle is randomly allocated the total
- This repeats every month for the duration of the Circle until everyone has received their money! How exciting?
This collective saving method has been used to raise money all over the world for decades and can be used for more than getting yourself on the property ladder. StepLadder can be used for all kinds of savings, not just for property!
We agree with StepLadder that buying a home doesn’t have to be as difficult as it is. Through the feel of the community and expert help along the way, we think you’ll be wowed too.
So, here we have three amazing products that take that extra stress out of your financial journey. Whether you’re investing, saving for those shoes, or even a house, keep these innovative tools in mind for when the time comes. Don’t forget to check our Instagram for some more Products that WOW!