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Join us for a quick chat with Finimize's Max Rofagha about the core values that inspired Finimize, and what he sees in its future.

Finimize is a start-up that gives everyone the information and tools to be financially savvy in just a few minutes a day. Best known for their daily financial newsletter that explains the two most important financial stories of the day,  Finimize is building a suite of products to help users make informed financial decisions. The ultimate is to empower them to become their own financial advisors. Finimize is Max Rofagha’s second venture following the acquisition of DeinDeal at the age of 28, earning him a spot on the Forbes 30 under 30 list.

Hi Max, thank you for taking the time out of your busy schedule to sit down and chat with us! Firstly, could you please tell us what motivated you to set up Finimize?

Making financial decisions just seemed unnecessarily difficult at every step of the journey, from understanding the news to choosing an investment provider. I was in my late twenties and had built up some savings, as everyone tells you to. So I took the logical next step, visiting a financial advisor in a retail branch. Quickly I realised it was just a sales pitch for their own products. So, I tried online and discovered an overwhelming amount of information and options. I asked my friends for advice that work in large investment banks, even they seemed clueless when it came to planning their own personal finances. Realising I wasn’t the only one with this problem I did what any entrepreneur does and set out to solve it.

Why have you decided to target millennials specifically for financial empowerment?

Finimize isn’t just for millennials, but it was created for the modern day. People are used to having information at their fingertips and don’t have time to sit and read the business section of a newspaper. Millennials face an interesting financial challenge and need a new message. The old method of save, buy a house and retire just doesn’t fit anymore. But, growing up through the financial crisis, experiencing the birth of cryptocurrencies and this modern wave of Fintech has created a new attitude towards money. This generation finds comfort in taking control, we’re just used to making our own decisions rather than delegating.

How do you see Finimize growing and changing in the next 2-3 years?

At Finimize we plan to be the platform you check before making any financial decision. I use Expedia to book a holiday without a travel agent, choose a restaurant by checking TripAdvisor – it’s just bizarre that this is yet to happen in finance. This barrier between information and people is unsustainable, and we want to be at the forefront of this change. Based on the research with our community the biggest barriers to investing aren’t in fact technology, it is knowledge and trust. We want to put the power back in the hands of the people by giving them everything they need to feel confident in the decision they are making.

Can you tell us what ‘being in control of your money’ means to you?

It’s different for everyone. Being control just means feeling confident in the decisions you make. We all know what being out of control of your money looks like – being blind to your accounts and getting into unnecessary debt, making illogical decisions. Once you understand a few concepts like what an interest rate rise might mean for your portfolio or the impact inflation is having on your savings, it's surprising how in control you start to feel when making an investment decision.

Finally, what is the most important piece of advice you could give to someone who is looking to start managing their own money?

Just start. It’s like training for a marathon, it all starts with putting your trainers on and taking those first steps. Start engaging with the news and getting used to the terminology is a great way to get comfortable. Talking about investing with friends and reading about personal finance will help too. Once you’re comfortable, find out what platforms are out there and pick the one that you think is right for you. Many people often overthink their first move and can be bogged down by the fear of making the wrong decision but the truth is you can open an account with a robo-advisor with as little as £1 today and start from there.

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