Benefits Of I Am Savvy

Life can get confusing, and we are inundated with large volumes of irrelevant information. We are not sure about you, but we get frustrated trying to understand the processes of buying our first homes, insuring ourselves, investing our money – how and where to start, and whom should we trust?

How do you cope with the stress of investing? How do we start taking control of our finances?

We designed ‘I Am Savvy’ to focus on setting financial goals, budgeting and tracking your expenses and understanding your risk assessment.


FINANCIAL GOALS:

For a financial goal to be effective, you need to be clear on 3 things:

  1. How much you need in dollar terms
  2. Time frame required
  3. Where you are today and where you want to be in the future.

We don’t focus on setting our financial goals frequently. This must change. We attribute this to the fear of the unknown, lack of time, or simply not knowing how to get started.

Guide your money strategies and manage your finances efficiently. Without any goals, you will not have a clear direction when planning your budget. If you want progress, focus your time, research, efforts, and money effectively.

Plan well, plan smart. Conquer your inertia and set aside time to think for your future!


RISK ASSESSMENT:

Determine your risk appetite as this will affect the strategies you pursue for your investments.

By completing our risk assessment, you will understand your:

  1. Attitude to risk
  2. Understand the concept of risk and how it applies to your financial matters and life.
  3. Tolerance for risk
  4. How much losses can you stomach? What is the volatility that will not cause you to lose sleep? We use your past experience and future expectations to determine your tolerance.
  5. Capacity for risk
  6. Quantifies your ability to absorb losses. Or how swings in your investment will affect your daily life and emotional state.

BUDGET & EXPENSES:

Let’s face it, budgeting IS tedious. But why do people preach about it all the time?

Budgeting enables you to focus on the necessities. It ensures that you have sufficient funds for the things you need AND the things that are important.

That seasonal bag that you badly desired? Probably neither important nor a necessity.

A budget helps you to allocate your funds to the most critical components that require attention - your debts. If you are debt-free, good on you! For most of us, ensure that you follow a spending plan to get rid of your loans.

Keep your finances on track. Be conscientious. You’ll thank yourself later.