Staying on top of our finances is important to every single one of us and financial planning is what helps us do that. Whether you’re looking to save up for a large purchase, such as a new car or a mortgage, or are simply looking to make ends meet, there are many tools out there that can help you out.
However, not all personal finance programs and apps are made equal – and some will be better suited to you than others depending on your individual circumstances and the features you’re after.
Personal finance programs and apps offer a range of features, such as budget builders and trackers, and more advanced tools like investment portfolio builders and personalized investment advice.
Here are our top 5 online financial planning tools and apps…
Mint
Mint is a fantastic personal finance software which is designed to make budgeting easier and more efficient. It allows you to manage all of your accounts in one place, and has a useful alert feature which can help you ensure you don’t miss any payments (and, in turn, avoid any late payment fees, especially on debt.)
You Need A Budget (YNAB)
You Need A Budget is an intuitive yet powerful online personal finance tool. As you can tell from its name, YNAB’s features are centered around helping you build (and stick to!) a monthly budget plan.
Setting a realistic budget is one of the most important elements of maintaining good personal finances or getting out of debt. The best thing about YNAB is their software is not only designed to help you set and manage your budget, but it also aims to improve your financial literacy and help you make better, more informed financial decisions.
TurboTax
Next up, we have TurboTax. This personal finance planning software is dedicated to helping the average American file their taxes in an efficient and stress-free fashion.
Inputting your financial information, such as your earnings for the year, is super easy and quick with Turbo Tax, as you can import it all directly from your employer. Alternatively, you can take a picture of your W-2 information and upload it for the software to read and add to your profile.
Personal Capital
If you’re looking for better returns than what you’d get for putting your money in a savings account, then Personal Capital is sure to be of use to you. Assuming you have an investment portfolio of $100,000 or more, you can get bespoke investment advice portfolio through this platform.
Even if you aren’t looking to invest in the financial markets, you can still benefit from this program, as it allows you to manage all of your financial accounts, such as your bank accounts, investment accounts and credit accounts, in one centralized place.
A Quick Summary
- Managing your personal finances is very important, irrespective of your individual financial situation and goals.
- There are countless financial planning tools and apps out there, with varying features and prices.
- Such programs can be useful for filing your taxes, building an efficient, realistic budget and tracking your monthly expenditure.
- Some financial planning apps even allow you to get bespoke investment advice and help you build a diversified investment portfolio which could deliver much higher returns than what’s on offer at the bank, though there are always risks with investing which you must factor in.