Promoted by Confidence Finance.
MoneyBRAINS is leading new technology that helps Australians better understand their finances. Answer 20 simple questions about your household finances and you will be provided FREE analysis & insights into your financial situation INSTANTLY. Insights include a breakdown of how you spend your money, whether you are under mortgage stress, what your borrowing capacity is, how much ‘buffers’ you should hold and what your overall risk position is.
Australia’s major housing markets have entered into recession. While many debate how severe this downturn may become, it’s clear that the Sydney and Melbourne housing markets are now moving backwards.
As investors, this can be a scary time. What should you be doing to manage your finances through a housing downturn?
We’ve narrowed it down into 2 key steps. It all comes down to managing your risk.
1. Know your finance and risk position
Figure 1: MoneyBRAINS analyses your financial position and provides users simple & accurate information about their financial position. Best of all, MoneyBRAINS provides users this information for FREE & INSTANTLY.
2. Having the right buffers in place
Figure 2 - There are different types of risks a homeowner has to their portfolio. This includes the amount of debt they have, their Loan to Value Ratio, their repayment type, the number of properties they own, whether they are over-reliant on variable income sources & general life risks. MoneyBRAINS technology will automatically calculate what a ‘safe’ level of buffer is for individual Australian households based on the specific financial situation that household is in. That is, it will INSTANTLY provide INDIVIDUALISED information about a households risk position.
Figure 3 - MoneyBRAINS technology will summarise your finances into an easily understandable risk position. It will examine your cashflow and stock of funds available to provide a summary of your risk position. It will also make an assessment on how resilient your household is to shocks to economic conditions.
Confidence Finance mission is to help educate Australian’s about their finances. We have developed MoneyBRAINS to help educate investors by providing a holistic reflection of their financial position.