Here’s the one observation I’ve made about money - it doesn’t take much to mess your relationship with it up.
Like everybody, my dynamics with money change very quickly and often, pretty much on a monthly basis. And well, there are age-old ways to solve the problem of not knowing where your money has gone. Growing up, I saw many parents maintain laborious accounts of expenditure, savings, and investments. Filling out this “khaata” was almost a nighttime self-care routine for them; they’d wake up knowing the exact status of their money.
For a generation that probably hasn’t used a pen and paper in weeks, maintaining an accounts book seems too far-fetched. There are a bunch of ways we can figure out where our money goes - making notes of it on our phones, or going back to our statements and doing the math. But I bet this sounds too overwhelming as well, right?
The solution? A multi-fold system that not only accumulates all your spends to give you insights into your finances but also gives you the choice to filter out the exact information you seek. Don’t know what I’m talking about? Read on!
(Psst..it isn’t when it comes to minding your own money). If you’ve ever thought about the things you could do had you known your money habits inside out, well, here’s something for you.
The Fi Analyzers are here to give you the direction you need to make the decisions you always thought you could. First things first, what are the Analyzers all about? Imagine the Magic Mirror in Snow White but for your money. A one-stop feature to give you all the revelations you might need about your expenditure. The goal here? Giving you the agency over your money, without you spending too much time on it.
The first layer is all about knowing where you’ve spent, how much you’ve spent, and what you’ve spent on. It’s about getting the surface-level information you need to make day-to-day decisions.
We know how frustrating it can get when you have to go through each payment to figure out where you spent the most and why your budget doesn’t exist anymore. Keeping this in mind, the second layer is about the patterns you may or may not know. Questions like “How many times did I buy from Myntra this month?” to “How much did I spend on re-decorating my room” all get an insight here. Additionally, if you’re curious about comparing merchants and evaluating before you buy, we’ve got you covered.
On the third level, we want you to strengthen your understanding of your money habits. Are you a “new wardrobe, new me” person each sale season, or do you jump up on the first offer at Zomato or Swiggy despite paying the cook and getting groceries each month?
If you’ve ever been to therapy, you’ll know how our deep-rooted patterns affect us on the daily. So if it’s about evaluating how committed you’ve been to your piano sessions or if you’re actually going to the gym after paying a yearly subscription, you can have all the resources you need to begin that inner work.
On the last level of this gamut, Fi wants to enable you to bring the change you need to in your spending habits. From telling you about how much time you’ve spent on purchases to nudging you before you shop, save, or invest, it wants to give you the space to contemplate before you decide. If a deep dive into your finances is only going to cause you more stress, it’s pretty counterproductive. Fi wants to eliminate this by giving you suggestions on how you can improve on where you lack.
An elaborate system like the analyzer is built on one thing - trust. If a user trusts Fi with their intimate details, pretty much anything is possible. The Analyzers collate data from the user's connected accounts, shared credit reports, and shared investment data. It’s a system of multiple permutations and combinations that filter out excess information to tailor-fit it for you.
Having an extensive report on all your spending patterns might sound like a great idea but in reality, can be quite the opposite. There’s only so much that can be focused on at a time, and each tangle needs its own untangling. The Analyzer is designed to help you get information on the specifics that you’re curious about.
With extensive filters, you can customize the information you want to see and act on. The aim here isn’t to make you wary of spending money but finding the simplest ways with which you can do this without a drastic impact on your finances.
At its very core, Fi aims to simplify finance for everyone. Having a healthy relationship with your money is as important as any other close relationship in your life. And what does a good relationship look like? Clarity, transparency, shared values, and lots of nurturing. Behind each of its features, Fi has aimed to create just this balance.
We want to “live our best life” but don’t have the knowledge that goes behind it. Most of us aren’t financial whizzes and get by with the information we get from the internet and our circles. Both can be reliable sources, but neither knows your financial situation, spending, goals, and more. And instead of beating ourselves and stressing over how we can’t manage money, it’s time to shift the perspective.
The good news is that we don’t need to be stuck in this foggy maze anymore. Take in what you seek and build on what you need to, with all the assistance that you might need coming from Fi. The next time you’re worried about where your money is going, just hop on to Fi :)