No one wants to be told what to do when it comes to their personal lives. Or, when it comes it comes to managing money. It can be an extremely sensitive subject because it is human nature to not want to admit fault. Or, to personally accept that you don’t know what you are doing when it comes to personal finance.
Who wants to be lectured about how they maintain their personal finances, after all? It’s ego wounding. However, the truth is that truth always stings more than a lie ever will. And the truth is that almost half of all Americans are financially illiterate. Or, they don’t have a basic understanding of how to maintain their finances in a way that safeguards their finances for the future.
It is easy for me to lecture you about financial illiteracy. So, I will be truthful; I was financially illiterate for a very long time. For a long time, I lived with relatives and wouldn’t accept that I had a lot more to learn about being financially responsible. I eventually became smarter about my money, and I learned about SAVVI Financial, which I use to better plan my financial future.
SAVVI Financial is an online financial advice engine that helps people create personalized budgets and actions plans to improve their personal finances. The company uses the experience of its founders, MIT-graduate data analysts, engineers, and mathematicians, A.I. technology, and your financial information, to help you create an actionable plan to take control of your personal finances.
SAVVI Financial helps you to take real control of your financial future. I use SAVVI, it’s helping me, and I know it can help you. Before I share my SAVVI Financial review with you, let me better explain the term, “financial illiteracy.”
Financial Illiteracy is a Huge Problem
Over 44% of Americans are financially illiterate. In other words, they don’t have the innate skills to pay bills on time, regularly pay off debt, save money, or think about the future when it comes to their personal finances. Well over 44% of Americans don’t have $400 to pay for a financial emergency. Over 43% of people have no intention of paying back their student loans.
Those with financial illiteracy don’t save money or keep a low income-to-debt ratio. They don’t maintain a budget and keep track of income, debts, and payments. Financially illiterate people don’t keep emergency funds. Or, understand that the proper way to increase wealth is through strategic investments and saving money, not one or the other.
The path to financial literacy and self-control of personal finances can only be found through realistic self-assessment. An invaluable tool to help you get to that point is the online budgets and action plans of SAVVI Financial.
My SAVVI Financial Review
I was pleasantly surprised by how easy and accommodating it was to use SAVVI Financial. After logging on, I was prompted with a basic questionnaire about my financial goals and the extent of my financial ambitions. The last question before getting started was, “How confident are you that you’re doing what’s needed to meet your longer-term financial goals?”
It’s a very sobering question because this financial advice platform is asking me if I’m serious about taking control of my financial future. In other words, you are made to realize from the start that only you can improve your own personal financial standing. SAVVI Financial is a tool for financial empowerment, not an end or an answer to self-made problems.
Next, I was prompted to input my finances, income, debts, properties, assets, and so on. This is done to help SAVVI’s A.I.-enabled analytics to create an accurate picture of my current financial standing. SAVVI will then ask you to link your bank account or credit card information. Or, you can list the value of the property you own, investments, and so on.
Your Saavi account will ask if you rent or own and if save money every month. It will ask if you pay for utilities or health insurance. It will ask you to detail your spending habits. Once SAVVI’s computational and processing analytics fully assess your personal finances, then a customized action for improving and protecting your financial goals will be presented to you.
SAVVI presented me with a financial action plan that required me to admit that, even though I am better improved when it comes to financial literacy, I can do better. For instance, the SAVVI analytics system advised me to add more money to my emergency finance fund, to consider a large-scale investment, and to add more money to my existing retirement plan.
Take Control of Your Financial Life with SAVVI
No one wants to be told they are doing something wrong, especially when it comes to personal finance. Yet, the longer you take to admit that you may need improvement in financial literacy, the longer it will take for you to attain your financial goals. If you are struggling to improve your finances, give SAVVI Financial a try.
Its personal finance assessing system won’t tell you what you want to know, only what you need to know. Hard truths hurt, but they must be faced in life to grow as a person and to improve personal finances.
The review above was paid for by SAVVI Financial. However, all of the above opinions are mine and mine alone.
Read More
- Blue Apron Company Review
- Paribus Review
- Simplify Retirement Planning With This One Fund
- Review of Lending Club
Allen Francis was an academic advisor, librarian, and college adjunct for many years with no money, no financial literacy, and no responsibility when he had money. To him, the phrase “personal finance,” contains the power that anyone has to grow their own wealth. Allen is an advocate of best personal financial practices including focusing on your needs instead of your wants, asking for help when you need it, saving and investing in your own small business.