The People's Choice - Vote now!

Entrant: The Money Journey

City: Auckland

Website: https://www.themoneyjourney.co.nz/

About My Business

Kia ora, I'm Christel, the founder of The Money Journey! A few years ago, as a solo māmā, I was struggling to get a hold of my own finances despite my good income. I took control of my pūtea through starting a budget and found out that, by being more intentional with my spending, I could save a whopping 50% of my income. I realised that the financial services industry wasn't supporting Kiwis enough with the fundamentals of personal finance. Some research* even showed that the top reasons why Kiwis do not seek financial advice are they think they are not wealthy enough (65.2%) and financial advice is too expensive (62.5%). A real catch 22! So, I made it my mission to develop a solution which could help them. After qualifying as a Financial Adviser and saving up a year's worth of expenses, I founded The Money Journey in April 2022 to fill this gap in the market. The Money Journey offers a unique approach to financial advice including: ' A focus on the fundamentals ' In an industry largely geared towards selling products such as mortgages, insurances and investments, The Money Journey offers holistic advice to Kiwis earlier on their financial journey so that they can learn to budget, pay off debt and save up for their projects. ' A subscription model ' This new model of financial services ensures that clients are given ongoing support (and kept accountable) while they take control of their finances. Subscriptions are for one year, which is the time it takes them to change their money habits and see motivating results. ' Affordability ' Monthly subscriptions make the cost more affordable to Kiwis. The Money Journey's plans are $100 to $125/month, which is about the same as a gym membership. ' Independent financial advice ' Working in the best interest of my clients means I do not receive any commission, kickback or gift from anyone else. This policy is crucial in establishing trust in an industry that has historically had complex remuneration systems, and therefore murky interests. ' 100% online - The Money Journey fully operates online. This means I can reach clients across the motu whilst offering them more flexibility and lowering costs (no fancy office, no travel). I am fully licensed by the Financial Markets Authority (FMA) and registered on the Financial Services Provider Register (FSP775371) *Source: Financial Services Council, Money and You, Literacy | Insight | Advice, August 2020

Why We Should Win The Peoples Choice Award

The Money Journey is on a mission to improve the financial wellbeing of New Zealanders. High inflation, increasing mortgage rates and unaffordable housing are currently putting a huge pressure on Kiwis. I witness the impact of those on their mental health every day. I help my clients save up a deposit so that they can finally buy their first home. I help them budget so they can manage higher mortgage repayments and avoid losing their home. I educate them so they can enjoy their life whilst also planning for the future. The Money Journey has already helped 24 families regain control over their finances and has made a considerable impact for those families ' 10 are now making significant progress towards buying their first home (for most, they had thought buying a home would be impossible for them), 7 have a plan to manage higher mortgage repayments (most of them came to me thinking they wouldn't be able to take the hit) and the remaining 7 now enjoy improved financial wellness.


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