Financial management tools for business are important for company success, but personal financial management tools are equally as important.
With the proper personal financial management tools at your disposal, you’ll be able to save for your future, pay off debt faster, and maintain a high credit score.
Creating a secure financial future can be difficult but not when you have the right personal financial management tools in your arsenal. While more than 70% of Americans have less than $1,000 in their savings, this can easily be corrected with proper personal financial planning.
If you are looking to take control of your personal finances, improve your credit rating, and start saving for your future, these personal financial management tools can help you do just that.
Top 7 Personal Financial Management Tools
This personal financial management website can help you easily set up a budget and stick with it. Mint is free to use and securely tracks your personal finance account, alerts you when bills are due, and even monitors your progress toward your financial goals. What makes Mint one of the best tools on finance is its ability to notify you about unusual spending patterns so you can avoid fraudulent charges or adjust your personal financial planning efforts to reach your financial goals.
This personal financial management tool allows you to calculate your net worth based on your checking, savings, investment, mortgage, and loan accounts so you always know exactly where you stand financially. Personal Capital also offers users an investment analyzer that will inspect your investments portfolio to verify that you’re not paying ridiculous broker fees for your investments and it will even help you make improvements so your investment accounts will reach your goals faster.
This personal financial planning smart tool is built around a zero-based budget, so you can be certain you’re not spending more than you make. When you use You Need a Budget (YNAB) to track your spending, you’ll always know exactly where you might be overspending so you can reduce your expenses and put that money toward your debt, save it, or even invest it. While not free, YNAB only costs $50 annually.
You may have seen the hilarious commercials about Credit Karma stating that it is free to use and doesn’t hurt your credit score and it’s true! Credit Karma is a free app you can download straight to your phone and use regularly to ensure that your credit rating stays high. Credit Karma allows users to see their credit reports and scores and even provides excellent information about how you can improve your score. With Credit Karma, you can ensure that there is no fraudulent activity affecting your credit score and that you’ll be able to purchase future large items without any hiccups like a new car or home.
Acorns is one of the best personal financial management tools on the market. This app helps users automate good financial behavior and save for the future. When you connect your credit and debit cards to the Acorn app, all your purchases will be rounded up to the nearest dollar allowing you to invest the difference into your investment portfolio. Acorns automatically invests your change into low-cost exchange-traded funds and while the app is not free, it only costs $1 per month.
If you’re like millions of Americans who are paying too much for health insurance or you don’t have health insurance at all, Healthcare Bluebook is for you. What makes Healthcare Bluebook one of the best tools on finance is its ability to calculate fair prices for hundreds of healthcare services based on your zip code and even offers tips on how you can shop for better deals. Healthcare Bluebook helps save users an average of $1,500 and their full-featured enterprise healthcare shopping solution makes it easy for you to find high-quality, cost-effective providers.
This online personal finance tool provides free tools to help you track your spending habits, determine your financial goals, and budget your money better. What makes LearnVest an excellent personal financial management tool is its ability to analyze your credit card and debt repayment options so you can repay your debts quicker without spending your entire monthly paycheck. LearnVest is also an excellent personal financial planning tool that offers users information about their budgeting and expenses to help them become more financially literate.
It is important to get a firm grip on your finances and ensure that you’re budgeting your money correctly and paying off your debt as fast as possible. With the right personal financial management tools in your arsenal, you can do exactly that.