Personal finance is a crucial aspect of life that many people struggle with. From budgeting and saving to investing and paying off debt, managing your finances can be overwhelming. Fortunately, there are now a plethora of online tools that can help you take control of your financial situation. In this post, we will discuss some of the best free online personal finance tools available.
Best Free Online Personal Finance Tools
Budgeting and Expense Tracking
Mint is a popular personal finance tool that allows you to track your spending, create a budget, and get a better understanding of your financial situation. It connects to your bank and credit card accounts, so all of your transactions are automatically imported and categorized. You can see how much you are spending in each category and get alerts when you are close to reaching your budget limits. Mint also has a feature called “Trends,” which shows you how your spending has changed over time, so you can make more informed financial decisions.
YNAB (You Need A Budget)
YNAB is a budgeting tool that follows the “Four Rules of YNAB,” which are designed to help you take control of your money and break the paycheck-to-paycheck cycle.
The four rules are:
1) give every dollar a job,
2) save for a rainy day,
3) roll with the punches, and
4) stop living paycheck-to-paycheck.
YNAB allows you to track your spending and create a budget based on your income and expenses. It also has a feature called “Age of Money,” which shows you how long it takes for your money to be spent after you earn it. This can help you prioritize your spending and make sure you are using your money wisely.
EveryDollar is a budgeting tool created by Dave Ramsey, a personal finance expert and author. It follows the “zero-based budget” method, which means that every dollar you earn is assigned a job, whether it’s going towards bills, savings, or spending. EveryDollar allows you to track your income and expenses, create a budget, and see how close you are to reaching your financial goals. It also has a feature called “Debt Snowball,” which helps you pay off your debt by prioritizing your debts from smallest to largest.
Saving and Investing
Acorns is a micro-investing app that allows you to save and invest small amounts of money automatically. It works by rounding up your purchases to the nearest dollar and investing the difference in a diversified portfolio. For example, if you make a purchase for $3.50, Acorns will round it up to $4.00 and invest the extra $0.50. You can also set up recurring investments or make one-time deposits. Acorns also has a feature called “Found Money,” which allows you to earn cash back when you shop at certain retailers.
Stash is a personal finance app that allows you to save, invest, and learn about personal finance. It offers a variety of investment options, including stocks, ETFs, and options, so you can choose the one that best fits your goals and risk tolerance. Stash also has a feature called “Learn,” which provides educational content on personal finance topics, such as budgeting, saving, and investing.
Robinhood is an online brokerage that allows you to buy and sell stocks, ETFs, and options commission-free. It also includes features such as market data, news, and personalized investment recommendations.
Betterment is an online investment platform that offers a variety of investment portfolios and financial planning tools. It uses a goal-based approach to investing and provides personalized recommendations based on your financial situation and goals.
Debt Payoff Assistant
It is a tool that helps you create a plan to pay off your debt using the debt avalanche or debt snowball method. It also includes features such as a debt calculator, payment schedule, and progress tracking.
Debt Tracker is a tool that allows you to track and manage your debt in one place. It includes features such as a debt calculator, payment schedule, and customizable payment reminders.
Credit Karma is a personal finance tool that provides free credit scores and reports, as well as tools to help you understand and improve your credit. It also includes a feature that allows you to see how different actions, such as paying off debt or applying for a credit card, may affect your credit score.
Saving and Banking
Qapital is a saving and banking app that helps you save money automatically by setting goals and creating rules to trigger savings transfers. It also includes features such as round-up saving and personalized financial advice.
Chime is a mobile banking app that offers fee-free checking and savings accounts, as well as tools to help you track your spending and save money. It also includes features such as early direct deposit and automatic savings transfers.
Digit is a saving app that uses algorithms to analyze your spending habits. It also automatically transfer small amounts of money from your checking account to your Digit account. It also includes features such as a savings calculator and personalized financial advice.
These are just a few examples of the many free online personal finance tools available. Using these techniques, people can obtain financial control and reach their goals.
I hope this list of free online personal finance tools is helpful! Let me know if you have any questions.