Personal Finance Tools for Everyone

Thursday, July 25, 2013, 1:00 AM | Leave Comment

A lot of people try their hand at budgeting. While some are able to do this, successfully, on their own, there are still others who just can’t seem to determine where their money is going.

With an effective and set budget, anyone can spend less and use their money more wisely.

If you find it hard to track your expenses on your own, one quick fix is to make use of a personal finance tool that can help in organizing multiple credit, debit and other bank accounts.

A personal finance tool is very effective in helping you keep track of how much money you have spent and how much money you have left.

The best personal finance tools even warn their users when they are nearing the limits of their monthly budgets in various categories.

There are many consumers who are now making use of personal finance tools, probably due to developments in terms of flexibility and user-friendliness.

Now users of these tools can easily upload their financial activities and associated data for quick analysis.

By making use of these tools, people are becoming more in touch with their finances, encouraging them to be more conscious regarding their spending habits.

There are various tools that are available but if you are considering registering for one, here is a list of the best personal finance tools for you to check out.

  • Mint

    Many consumers make use of this personal finance tool because it is very easy to use. You simply upload your account information and instantly see an analysis of where your money is going.

    By keeping your expenses updated, you will be kept constantly aware of how much money you have spent and how much money you have left.

  • Wesabe

    This is a fun personal finance tool to use because it incorporates social media.

    You can upload your account information, track where you spend your money, and compare your spending habits with other users of the site.

  • Geezeo

    This tool has stopped accepting new users but they still continue to offer their services through banks and other credit unions.

    If you are interested in using Geezeo, inquire at your bank or credit union as to whether they make use of the program.

  • Yodlee

    Just as Geezeo does, Yodlee offers their services through financial institutions.

    However, they accept individual consumers who want to use the money management tool.

    As with other personal finance programs, uploading account information is easy and allows you to track where your money is going.

  • Pennyminder

    This is a good tool for families who want to track their household budget. This program will allow families to track other members’ spending.

  • You Need a Budget

    This tool is ideal for people who have debt which they are trying to repay.

    This tool has a feature which encourages you to think twice before spending your hard-earned money.

    This program also allows you to make easy adjustments if there is a need to reallocate your budget.

  • Buxfer

    If you have a Google or Facebook account, then there is no need to create a new one with Buxfer since you can sign in using your Google or Facebook account.

    Not only will you be able to track your expenses with this program, but it is also a helpful tool for tracking expenses which you share, for example, with your spouse or your roommate.

  • Pocketsmith

    Pocketsmith compares the amount of money coming in, to the amount of money going out, allowing you to see how much you can afford to spend.

    Not only that, it also encourages you to set financial goals.

  • Your own bank

    There are some banks that offer personal finance management tools. If you do not want to create a new account, then you can simply use the one that your bank is offering.

If your bank, currently, does not offer a personal finance management tool, inquire as to whether or not they are thinking about offering one in the future.

Some banks are considering offering their clients personal finance tools to establish better relationships with clients.

The important thing in managing your finances is to keep track of where you spend your money, regardless of whether you sign up for a personal finance management tool or decide to write down your expenses and rely on checking your credit reports.

Knowing where your money is going and how much you have left will encourage you to save more and help you to think twice before you spend.

Author’s BIO

Joy Mali is an active finance blogger who is fond of sharing interesting finance management tips to encourage people to manage their personal finances.

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