Living Beyond your means? Let
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- čas přidán 3. 08. 2024
- Many people live way beyond their means, and it's an easy trap to fall into when you have a credit card here and an overdraft to buffer you there. This is because many people DON'T actually know what’s happening with their finances. Budgeting using the 22seven app can actually help you FIX this. Take control of your money with the #22sevenapp
How you’ve described true disposable income is interesting! Makes 💯 sense.
Love from Thailand
sisi you really changing my I'm sure a fan.
Thank you so much for this video and the knowledge you’ve shared. I’ll definitely try out this app.
Hello sister south africa ! Love you 🌼⛅
Great tips. Thank you.
Thank you!
I have used the #22seven application before and I have a few complaints. Firstly, the application still needs manual intervention to keep your budget tracking accurate. The machine learning algorithm used might be using keywords in the transaction description/name/id to categorise expenses, income and investments, and it sometimes categorises them incorrectly. As a result, it can make budgeting more stressful because you have to make sure the categories are correct. Secondly, it isn't forgiving when you actually have to spend for emergencies. Thirdly, it compares you to other people's spending and we all know what comparison does. Lastly, the application sometimes takes a while to load information. Oh, and the monthly reports can sometimes have inaccurate data.
In conclusion, the data you are shown can be inaccurate and can put pressure on you unnecessary. I wish disadvantages like the ones above could have been highlighted as well, and even better, have solutions to the problems.
True about comparison : life is a race and we all have the we all position ourselves at the starting line with our different backgrounds and with the guidance and experience of our "coaches" we pace ourselves till our eventual inevitable finish. What's your definition of winning/happiness . . . ?
Oh yes the app - would suggest laying out all your necessities, expenses/what you owe and let the difference from your initial income be divided amongst various savings or self sustaining investments which contribute to savings to be brief... Maybe just maybe book keeping went digital though not thought out thoroughly - 🤨
Last friendly advice:find someone or people whom you know should anything happen to you ,your family or those you hold dear will be taken care of irrespective of where they come from financially stable or not . . . "Lifestyle is temporary".
@Clever Black The application is supposed to categorise things for you correctly. That's the point. If it doesn't do it correctly often then you might as well use something else. Manual intervention should be a last resort in a system. It's annoying when it happens a lot because that ruins a user's experience when using the application. The whole point of #22seven is to automate your budget tracking. It uses machine learning. If the automation isn't great then the machine learning isn't great. If you change a lot of things then the application isn't delivering as promised.
Data quality is important to users. Usually #22seven notes transactions that reflect in your transaction list. It doesn't know anything about upcoming transactions that aren't listed yet. If that was the case then it would have access to a lot more than expected. There should be a disclaimer informing the user that their monthly report might have incorrect data due to pending authorisations for recent transactions, for example.
With regards to emergencies, the system should check for unusual spending and make it easier for you to categorize those correctly. If you have 20 emergency-based transactions mixed in with non-emergency transactions then manual user input would be tedious. Same categorisation errors mentioned above apply here.
With regards to comparison, it is important to be compared against normal medians calculated by experts and not from other people's data. An easy example would be comparing yourself to someone who uses the FIRE method to manage their money and might also have external support. That's not helpful. It's demoralising. You shouldn't be compared to outliers. I mean, that's a no-no in statistics as well.
I'm glad it works for you but that doesn't make #22seven the best application for everyone just because you think it is the best.
The video should have highlighted the issues users might experience and solutions so that people know what to expect and what to do if issues arise.
You cannot assume that people will have solutions to problems. You have to let them know.
Either learn bookkeeping, find an accountant or create your own app . . .
It's like having a broken car - either walk,buy a bicycle or find a horse : point being made there are other methods which already exist choose one which appeals to you . . .
Thank You ...
I love your videos
Thank you 👊
I have the App but I have not trusted it before. On this day, I will add my main account on it. If it can give such a broad analysis and tips on my expenditure I think I am on my way to understand my real financial habits. Thank you for
I totally understand why I ran out of money in the middle of the month (3 weeks of LIVING) wow lol
The 22seven app keep on declining when I link all my bank account, I tried with EasyEquities and it linked ,is there anything that I might be missing 🥺🥺
O motle 🔥🔥🔥
I find this app inefficient . It has updating issues and it does not recognize certain accounts.
❤️
Absa credit card still pending. I don't what to do. 22seven
Can we use the app in Thailand?
Hi Nicolette ? Is this App only for South Africans ?
Financial Bunny, are there similar functions/features available on the FNB app? Asking coz I use the app on a basic level 😅
Location 💃💃💃💃
I've been struggling to link my Capitec bank account 😫
Same here, it says I should contact support
You not alone 😭
You are me.
@@nonkululekomkhize539 🤣
That app it’s useless I have been using for 2 years
Serious??