What is Money To The Masses?
One of the first money writers I met in person was Damien Fahy from Money To The Masses. A funny guy with just the right level of sarcasm that I like, and he doesn’t take himself too seriously. Yet he is incredibly knowledgeable with a great back story.
He used to work in the city in investment banking, making rich people richer. He had a moment where he realised he wanted more and set up Money To the Masses, giving financial information to the masses for free. Evenings and weekends were then spent building the business to the point where he could quit his job.
His website back in 2016, when we met, was already a huge success. The site is a go to resource for all things finance from insurance to investments to pensions. Whenever I need an impartial review of a financial services company, I know I can go to Money to The Masses and find what I need.
Also, he is an all-round lovely guy, and we meet up for coffee every now and again to talk business and catch up on life. I aspire to grow Mrs Mummypenny and he is a great sounding board, a mentor who gets the business I am in. He is also not afraid of telling me if I am doing something questionable or perhaps not great for the long-term! I appreciate this advice hugely.
There is so much more than just the website, so much that as the business grows as does the team. A while ago he took on his twin brother Justin full-time (the technical expert) and recently expanded the team taking on two more team members. There is a podcast, which has just passed the 200-episode mark. There is the 80:20 investment subscription service and he is regularly quoted in the financial press.
The newest Innovation Money to the Masses Free Money MOT
The bigger team means he is freer to innovate, and this he does so well. I want to tell you about his most recent launch, the Money to the Masses FREE Money MOT. A service completely unique to Money to the Masses. Take a few minutes to answer a few questions and Damien will send you some tailored emails with help and guidance depending on your responses.
Let’s do this, does it really take 5 minutes to give me personalised financial guidance.
Starting the Questions
Its starts with simple questions, age, sex, marital status and number of children and employment status. The first serious question pops up, do you have a will? Um No. Not good enough, it is top of my list to sort out now Damien has told me to!
Next we have questions about the size of my estate and questions about insurance. Life insurance and income protection insurance. Hurrah I have life insurance, but only to cover my mortgage. No other types.
Then we are onto questions about my credit rating and debt levels and emergency fund levels. There is section to tick all the bills I pay, I ticked most of them! And then a chance to say which I have reviewed in the past year. I am money savvy and am paying the best deal for all my bills. But I recognise MOST people are not in this position.
Then some questions about me checking tax and benefit entitlements.
Questions about Planning for the Future
How am I planning to fun my retirement was the next section? I like the handy circle at the top of the form that tells me how I am progressing. Nearly done at this point.
A few questions about the value of my estate and do I know anything about inheritance tax – not much. Then a few questions about the investment that I hold. And that’s it.
The questions are over, it really does only take a few minutes!
The questions are all simple, this Free Money MOT is suitable for everyone, and particularly those of us without enough funds to speak to a financial planner (you tend to need more than £100k in liquid assets before they can help).
At the end I am given a rating on an A-E scale. I was a C+ and I can guess why. I don’t have a will being the main reason, or decent income protection. There is some further detail behind the rating. I am loving the fact that I have three starts for debt management and retirement planning!
Ongoing Emails are then triggered to help me sort things out
You can then enter your details to get your personal action plan. What are the chances that my first email advises me to sort out my will?! I can choose to receive weekly or daily emails and I choose my main financial goal which is starting to save/invest. I do have some investments and savings, but not enough. My investment pot has just tipped over £1k so I am keen to do more there.
I am really looking forward to getting my personalised emails to guide me through a financial path. And I look forward to taking the test again in a few months time to see if I can improve from my C+ grading.
This really is an exciting financial tool that simplifies financial advice for the masses. Exactly what Damien’s aim was from day 1. Go on take the Money To the masses free money MOT, you won’t regret it!
Not an ad in any way!!! Just a recommendation of something a friend has created that is brilliant and will help you to save money and be better prepared for the future. (P.S. He doesn’t even know I have written this post…hahaha)