8 Financial Tools I Recommend to Friends
In the last few years, there are has been a resurgence in excellent financial tools, many of which are free. If you are looking for helping managing your finances, there are plenty of tools out there to keep your finances organized – and even to help you make better decisions.
In the last few years, there are has been a resurgence in excellent financial tools, many of which are free. If you are looking for helping managing your money, there are plenty of tools out there to keep your finances organized – and even to help you make better decisions.
Here are 8 that I recommend to friends:
Almost every list like this has to start with Mint.com. This is a budget tracker that quickly and easily lets you see where your money is going. Figure out how you are spending your money, and use the analysis to change your habits and improve your situation. Mobile apps make it easy to check your financial situation anytime, anywhere.
One of the downsides to Mint.com is that it doesn’t actually execute anything on your behalf.
Betterment sets users up with a long-term investment portfolio and provides advice for keeping you on track to reaching your goals. This web site helps you figure out an asset allocation, how much you need to save, and then automatically keeps you on track, even rebalancing periodically. We all know that automation is crucial. Betterment encourages you to invest for the long term with guidelines that require you to invest a $10,000 lump sum, or $100 a month. Low management fees are the only costs.1
Buxfer is another online money manage tool that allows you to see all your money in one place, as well as plan out your financial future. On top of that, you can manage shared expenses. It helps you split the check when you are out, manage IOUs, and even figure out shared rent and groceries.
Use Pocketsmith financial tool to help keep track of upcoming bills, and set financial goals for the future. Pocketsmith is all about goal setting. Its calendar-based set up lets you project into the future, as well as allowing you to quickly compare your monthly and annual spending with your actual income.
If you are looking for help paying down debt, ReadyForZero is a great financial tool. You can get help putting together a plan to pay down your debt, since ReadyForZero pulls information from your credit/debit accounts. You can track your progress along the way, which allows you to see what you are accomplishing – and also motivates you to keep going. For a small fee, ReadyForZero provides a tool to help you manage debt payments.
You Need a Budget is great for the zero-based budgeter. This financial tool is all about giving each dollar a job. Plan out your resource usage, and track your spending across various categories. It’s a great way to stay on top of your finances.
Digitize and organize your receipts and expenses with the help of Shoeboxed. This financial tool can help you save all of your receipts, and can be a valuable expense tracking tool. It also makes a great tool for helping you organize your receipts for taxes.
Quicken is one of the best financial tools out there, especially for Windows. One of the great things about Quicken is that it makes it easy to reconcile your accounts regularly by automating the integration of your financial data.
1We’ve updated our pricing structure since this article was published. Learn more at betterment.com/pricing.
How Does Betterment Calculate Investment Returns?
Understanding and using time-weighted and money-weighted returns within your Betterment dashboard.
10 Financial To-Dos Before Your First Wedding Anniversary
Planning your financial life with your spouse can be very stressful. Here are ten considerations you should talk about before reaching your first anniversary.
What’s Inside the Betterment Portfolio Strategy?
Explore the asset classes in Betterment's recommended set of portfolios. Then, take a look at the exchange-traded funds (ETFs) underlying each part of the portfolio strategy.
Explore your first goal
This is a great place to start—an emergency fund for life's unplanned hiccups. A safety net is a conservative portfolio.
Whether it's a long way off or just around the corner, we'll help you save for the retirement you deserve.
If you want to invest and build wealth over time, then this is the goal for you. This is an excellent goal type for unknown future needs or money you plan to pass to future generations.
Explore your first step toward a better financial future
Invest without the hassle. We manage your portfolio, offer expert allocation advice, and take care of the manual trading work.
Whether retirement is a long way off or just around the corner, we'll help you plan for the retirement you deserve.
Get answers to your questions about Betterment. We can help you become more confident with your money.