What is Yoyada?
Yoyada is a new financial app for people who care deeply about their money but don’t like managing it.
Who is Yada Data Studios Inc?
Yada Data Studios Inc is the company who created Yoyada. Our mission is to create knowledge and prosperity through immersive data driven applications that simplify and enrich life. This means helping individuals gain knowledge and understanding with practical applications like the Yoyada Financial Intelligence Platform meant to help individuals achieve financial wellness and ultimately financial freedom.
What does Yoyada mean?
Yada translated means to know or have intimate knowledge of something. Yoyada is a call out for knowledge, Yo Knowledge. We believe knowledge leads to prosperity and prosperity leads to a healthy life.
Our goal for Yoyada is to help people gain knowledge and financial literacy without the influence of selling a financial product. Knowledge is power, that is what we hope to give the community and those individuals who thirst for it. Just say Yoyada!
How is Yoyada different from other finance apps?
Unlike most apps that require a lot of manual entry and don't offer much insight, Yoyada empowers you with AI that makes hundreds for monthly income and spending predictions. With a single click, you gain real insights.
Our goal is to automate as most of the monthly planning process as possible which for many people is all that is needed. Of course, if you want to go further, we give you the tools to customize.
How do you secure my data?
Yoyada encrypts data in motion and at rest using banking level information security protocols and standards. Our banking integrations are done through our partner Plaid. We never see your banking account credentials which means we do not have the ability to directly access your accounts.
In addition to encryption, we operate under a set of information security industry standards which includes, among other things, restricting access to our environments, background checks on employees and contractors, and monitoring our environments for threats.
Do you sell my data?
No, we do not sell your data and our partner Plaid, does not sell your data either. We believe in personal data rights for individuals, that you should own and control your data. It is our job to help you create value from it using advanced analytics and interactive solutions.
We are carefully select partners who align with our core principles. Many other financial apps use banking integration service companies that claim rights to your data and sell it on the open market.
Do you share my data?
No, we do not share your data without your consent. There may be times when you want to share your information, but we do not share your personal information with third parties without your consent.
I received a message from my bank saying that Roamina wants to link to my account. Who is Roamina?
Roamina Inc was our original company name, we recently changed it to Yada Data Studios Inc. The updates are still working their way through the systems. Some banks are slower to update their systems than others. Roamina Inc is Yada Data Studios Inc, same company.
How do I close my account?
In the profile section of the application, select close account and we will close your account, disconnect your banking links and delete your data.
If you have a subscription, you will need to cancel your subscription through your app store with Apple or Google.
Why is my bank not listed?
Yoyada uses Plaid to connect safely and securely to 11,000 financial institution in the US and Canada. There could be a few reasons why your bank is not listed:
Plaid has not integrated with your financial institution yet
We can’t reliably connect to your financial institution at this time
Some financial institutions may prevent you from connecting your accounts to third-party apps like Yoyada
How is a Budget different from a Forecast?
Many people think budgeting is the same as forecasting. They are two very different activities.
The key difference a budget lays out plan for what you want to achieve, while a forecast is a more realistic view of what results you can expect. Said another way, a budget is a static view of your financial goals and a forecast is the indication of where you are actually going. Budgets are static and backwards looking while forecasts are dynamic and forward looking. We like forecasts more than budgets and have built Yoyada to be a forecasting tool more than a budgeting tool.
For those diehard budgeters, yes we still give you the ability to overwrite all of Yoyada's smart predictions and just enter your own budget numbers.
What is Free Cash Flow?
Very simply, Free Cash Flow is your Total Earnings less your Total Spending the result is Free Cash Flow. It measures if you are making more money than you spend. Said another way, positive free cash flow creates wealth. Negative free cash flow eats away at your wealth.
Credit Card Payments are not considered spending, Free Cash Flow is before credit card payments. Why? The balance on your credit card includes spending that has already been included in Spending, thus, including credit card payments would be double counting spending.
What is a Free Cash Forecast?
Your Free Cash Forecast is a prediction of how much free cash you will have at the end of the month. Yoyada uses advanced analytics to make hundreds of income and spending predictions every month. These predictions are updated daily based on your progress throughout the month.
Your beginning of the month Free Cash Forecast will be different from your current Free Cash Forecast. Your goal it is generate positive free cash flow and beat Yoyada's prediction. Your goal is to create wealth!