Hiya! Fancy getting your finances in order AND getting a £10 Amazon voucher to do so? Today, I have teamed up with uMoneyBook so the first 10 users to sign up and review that free program will get a £10 Amazon voucher! Check out the end of this post to learn more.
What is uMoneyBook?
It is a software that allows you to track your assets and liabilities, all in one place. It really does take a few seconds to sign up for the service, and then all you have to do is add your accounts one by one.
You first add your assets, like ISAs and savings accounts.
Then, the program asks you to list your debts, such as car loans and mortgages.
Next, you input your different sources of income, like salaries or rental income.
And finally, you tell uMoneyBook what your recurring expenses are, for example your electric or internet bill.
The program will then determine your profile rating, based on your assets vs debt, and your monthly cash flow, it will calculate your cash net worth (asset-liabilities, but only for the accounts you list up) as well as your income to expenses ratio.
It is much easier to set up than having your own formulas on a spreadsheet, and as long as things stay the same, for example until your next raise, the system will help you measuring the progress of your finances every month. Just log in once or twice a month and follow your financial journey.
Why should I use uMoneyBook ?
uMoneyBook helps you set up financial goals and instead of having to update a spreadsheet each month with your income and spending, it takes care of most of the work for you.
If you like to set savings goals, or debt repayment ones, and need a program to track it for you, then this is the tool for you. There are few similar programs in the UK that allow financial tracking like uMoneyBook does, and unlike those, you do not have to provide your online banking details, pin codes and other sensitive financial information in order to use the system. It is much safer, as you create mock accounts and then update balances of your assets and debts accounts once a month by logging in to the software.
The cash flow part allows you to easily spot how much disposable money you have each month and see how much spare cash you would have in the future (which you can use to put into savings or pay off debt).
How to claim your £10 Amazon voucher to review uMoneyBook?
In order to test uMoneyBook for free and get your Amazon voucher in exchange for your feedback of the program, please send an email to [email protected] with Savvy Scot in the subject line. You will then receive the instructions. In order to be accepted, you need to be based in the UK, between the age of 25 and 55, and a working professional with 2-3 2-3 financial commitments like savings accounts, isa, mortgage , personal loan , car loan, paying insurance every month etc. Hurry up, the offer is limited to the first 10 people to sign up only!