Money management is missing from the school syllabus. Thus, consumers mostly learn money management from their parents or on their own. You might even consider hiring a financial advisor that will help you in managing your money. However, you should first check free money management tools before hiring a financial advisor. These online tools are user-friendly and they will help you in tracking your spending. You can also use these tools for creating your financial budget and analyzing your financial decisions. In this article, we are going to talk about the best money management tools available in the market.
Mint is a free budgeting tool that will help you in tracking every aspect of your finances. It will act as a centralized location where you can check your credit cards and bank accost. Mint is one of the best money management tools available in the market. It will provide you charts and graphs that will help you in reviewing your financial situation. Sometimes, it is very hard to review your financial situation by looking at numbers. Thus, the Mint will convert all the data into graphs and charts. This app will automatically categorize your cash flow and spending. It will suggest methods that will help you in saving your money. The only disadvantage of Mint is that you need to sync important information like card numbers and bank accounts. This app is completely secure and they will protect your data by encrypting it.
Yodlee is also providing various money management services for free. You can use this tool for tracking your investments and accounts. This tool will also help you in creating your budget. You can use it for tracking your real estate value and spending.
It is very difficult to keep track of all your statements, financial documents, and bills. This tool will help you in solving this problem. It is very similar to Mint and you need to link your accounts with this tool. This tool will automatically remind you about pending bills. You can also schedule your payments for the future. It will also alert you if you have very few funds in your account. This app will ensure that you are always organized. Thus, you can use this app for avoiding overdraft charges and late fees.
If you want to track multiple saving goals, then Smarty Pig is the perfect tool for you. You can open free online savings account on this site. Smarty pig will provide you free savings account that you can use for reaching your savings goal. These accounts are different from the traditional bank accounts as they are fee-free. You need to deposit $25 while creating this free account. After that, you can link your main account with the Smarty Pig account.
Every customer can get one credit report for free every year. You should review your yearly credit report. This will help you in finding potential lenders. You can fix errors on your report. Also, this tool will suggest you various tips that will help you in improving your credit profile. If you have a good credit profile, then you can easily get new credit cards and loans. 6. BudgetPulse.com
This tool will offer you a simple budget system. You can use this site for monitoring your savings and spending. Budget Pulse will also allow you to track finances in different currencies. This feature is very useful for frequent travelers.
All the tools mentioned in this list are completely free. Thus, you should try out them and find the best tool for your needs. These tools will help you in managing your money. You can use these tools for getting a hold of your finances without ever hiring a financial expert.