How many tabs, apps, and excels does it take to know where your money actually is?
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Most of us don’t really know our NetWorth, not until something forces us to find out, in times of need (when we actually want to ensure that all my NetWorth is safe in place, for my loved ones.)
We at FOLO are solving this for the Indian ecosystem. About how your money is being managed currently, we'd like to know.
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minimalist phone: creating folders
There are some contradictions. You need to be on the same wavelength with your family members. Some people work hard, but their family members just waste money – I suppose with such an approach, you do not want to share your net with them.
On the other hand, when all family members are contributing, you want to share. In case something happens, can this app help with passing money to them?
@busmark_w_nika We built FOLO with an idea to ensure that we track our NetWorth and help in a smooth transmission of one's worth to their loved ones ! At FOLO, we have a feature called LYNC - Let Your NetWorth CarryOn ; which is exactly solving the problem of being able to pass on your money to them.
minimalist phone: creating folders
@tiwarilakshya12 Even in the case (now it will be morbid) of de*th?
@busmark_w_nika Yes, that is the core proposition that we offer.
minimalist phone: creating folders
@tiwarilakshya12 Pretty cool! :)
I think more than networth, it is more important for people to know where their money is. They should be aware of all their investments. Personally, I am not so inclined to give access to my data to see my networth at one place. INDMoney also did account aggregation for me, but I had to keep refreshing because data used to lag.
@keshav_bang It is really important to track your investments. However, we are solving for a different problem ; we are solving for users who might have FDs or loans that have remained undiscovered, or lets say there are users who want to track multiple financial assets all at once, not just bank accounts, but also Vehicles, Real Estate, Bonds, etc.
And the core of our app lies in Secure Transmission of your NetWorth to your loved ones, that can help us solve the problem of 2 lakh crores of unclaimed NetWorth in our country.
@tiwarilakshya12 oh that’s amazing. I like the vision. All the very best! I have seen people facing plenty of problems whenever a death happens.