Online budgeting tools are really important and if you don’t have one you need to get one immediately after reading this article. These personal budgeting tools are simple to use and can help you in preventing happening financial mishaps.
Those people who say they are masters of their finances and they don’t need any such thing they are lying from themselves or they are extra smart.
But, if you want to live your life peacefully the first thing you need to do is get all your financial issues resolved and done.
You can have either a financial advisor who is skilled enough and look after your finances or you learn it and achieve skills to do this without any help.
And if you don’t choose any of these options, you need an online budgeting app to help you out. When it comes to financial issues we always think we know everything and we don’t need any body’s help. This overconfident makes many people poorer. When we don’t track our expenditures, then the chances are we spend more than we earn.
So for anyone who wants to lead a comfortable life without any financial issues, we have reviewed 7 best online budgeting apps that can help you out in managing your finances better.
1. EveryDollar: Smart online budgeting tools;
You can achieve your money goals faster if you have planned them well and track your progress regularly. The philosophy of working of EveryDollar is very easy and it focuses on baby steps of growing up and becoming stronger in terms of financial status.
EveryDollar matters when you take your budget seriously and want to work for it for your better financial life.
Many people always delay budgeting either they don’t take it seriously or they don’t know how to get it done easily.
EveryDollar is a strong solution for people who are a novice to financial planning but want to do it themselves.
What are the unique features of Everydollar?
a. EveryDollar is a free online budgeting app and you don’t get paid for using its services.
b. You can set up your first budget in less than 10 minutes. It is easier using Everydollar than spreadsheets.
c. You can track your expenses in real-time.
d. EveryDollar is different from other budgeting tools in a way that most of the tools focus on money spent but every dollar focuses on the money about to spend. This way you have more control over your money and can have wonderful financial planning that saves money.
e. Using the app is secured with a multi-layer security approach, firewall barriers, and other strong features that keep your personal information safe and secure.
f. Nobody except you and the person with whom you shared your login details can access your budget information. You get complete privacy with your budgeting information at EveryDollar because even the team of EveryDollar can’t access your budget information.
g. You can learn more about budgeting through budget coaching. If you do have any query you can contact a dedicated team and get your queries resolved.
EveryDollar, a simple budgeting app is available for download for both android users and iOS users. Now you have more control over your money and can track your money wherever you go.
2. Personal Capital;
It not only helps you in budgeting and keeping your finances in good shape but also helps you in investing your savings to get better returns with limited volatility risks.
With over 2.4 million happy customers and growing, the platform provides you advanced options to get your finance on track. Through the Personal Capital platform;
a. You can manage your finances conveniently from home. Yes, you have a single dashboard for all your financial transactions.
b. You can know how your investments are doing in certain market conditions.
c. You can plan your retirement more systematically that could yield a good corpus.
d. You can calculate your future cash requirements, the rate at which your investment yields so that you can have sizable cash for your most beautiful years after retirement.
You can have a close eye if you’re paying too much for average investments. There is a fee analyzer that can help you in finding if you’re paying too much of hidden fees to mutual funds who does not worth the money you're paying.
What are the main features of Personal Capital that makes it a must budgeting tool for smart people?
Along with the above great features, there are a lot of other things to praise it for. Some of the features which smart budgeting tools have are already assimilated in Personal Capital like;
1. Your investments are assessed by qualified financial advisors who have good experience in financial products. They are capable enough in finding the pros and cons of the investment and if they are suitable for your investment needs.
2. You get unbiased financial advice that could help you in having a portfolio that is capable of yielding satisfactory returns over a long period.
3. Consultation on taxes when you buy, sell, or hold your investments.
4. You get here free advise on 401K fund selection.
5. You can easily look after your investments and how they are all doing through a simple and highly secured mobile app.
6. You enjoy here the benefits of smart indexing.
7. You can track your monthly cash flow and savings here with an advanced option where you can check the performance of all your investments.
8. You can compare here your portfolio with various indexes and ascertain how are you doing?
9. You can check your Net worth at any point in time.
10. If you have any query you can contact the responsive team of Personal Capital and get it attended and resolved in a very comfortable time.
Does Personal Capital offer free services?
However, Personal Capital offers all its core services without any charge but if you want to enjoy advanced services like portfolio management, investment advice on trading, and investment then you need to pay a marginal fee of less than 1% of your total asset.
Also, if you are investing more than 10 million dollars, your payable fee is dropped to 0.49%. The fee is acceptable keeping in mind that you get quality and reliable services for your hard-earned money.
3. Betterment;
Betterment is another highly rated and admired money management option that built to ease all your money related burdens. It has only one goal and that is helping all its members in spending, saving and investing, and getting most of their money.
Whether you’re new to investing or a seasoned professional, Betterment has everything for everyone that could make their investing life easier.
How Betterment can help you out in managing your money more efficiently?
Whatever your money goal is, you can get many options to get that achieved. For example, you have a child for whom you want to accumulate a good corpus for his education, you got that here at Betterment.
1. You might get help here about accumulating wealth over time for your retirement or just any purpose.
2. You have gotten several options to grow your retirement portfolio.
3. You may not have an emergency fund and here you can get help to build one.
4. You might have planned for a good house or some other purchases that require a big amount of money like marriage. And Betterment has also many options to help you in this regard.
5. If you always fail for tax saving, Betterment can help you here through its tax harvesting and asset allocation strategies to get out of tax worries.
6. You got a committed team of people who’re always there to help you out in any matter of your financial problems.
Are you spending sensibly? Here you can have daily monitoring of your transactions to control your unwanted spending.
Your personal and financial information is fully secured here.
When you become a member of Betterment, you not only become a member but you become a part of a large family and Betterment does anything to make your stay fruitful and satisfied.
How much does it cost to enjoy the services of Betterment?
Betterment does not charge anything for withdrawal, account maintenance, or ATM withdrawal. However, there are marginal charges on some services like:
There is no minimum balance requirement at Betterment. However, if you choose the premium plan, the minimum account balance must not go below $100000.
1. Investing: Here the charges are 0.25% of the invested balance. There is an entry charge of 0.03-0.5% when your portfolio invests in funds. You don’t pay any additional charges for transaction fees.
2. Betterment charges management fees of 0.25% for your retirement account.
3. You can also get premium advice at Betterment for 0.4% of the invested balance from a certified financial planner.
4. Wealthfront;
Wealthfront boasts of the easiest financial solution platform for all. At Wealthfront you enjoy the benefits of investing your money from a place and tracking of the fund becomes so much easy you feel confident of it.
Wealthfront provides financial services that could help you in getting more interest on your savings account.
You get reliable and authentic advice on your investment plans.
You get help here about you could retire with a big retirement corpus while investing a little amount every month.
Wealthfront platform has solutions to any critical financial problems you may face.
How can Wealthfront improve your financial life?
You can get all your financial goals at a place making it easy to look after your investments and how they are doing.
You can enjoy a truckload of services that make your financial planning enjoyable and successful. Some of the many benefits of the services of Wealthfront are as below.
1. Can you afford a home in a particular city?
You get the answer to such questions at the Wealthfront platform. Wealthfront goes a step further and does calculations considering your financial status. With the help of Wealthfront, not only imagining a dream house is easy but also having a dream house too. Once, you have given all your financial information, Wealthfront comes up with a home budget that is realistic and does not derail your other financial milestones.
2. You no more need to worry about your retirement planning when Wealthfront is there to help you out. Retirement is one of the most admired segments of one’s life. You want to live it with the fullest without worrying about money and financial troubles. Wealthfront calls it rewirement. You can imagine now how do you want to live those years and let the Wealthfront workout and come up with a plan to saving today for future amusement. You will get all in one place solution for all your retirement worries.
3. Those travel enthusiasts who want to explore the world would find peace of mind here with all in one place budget planning of travels. Wealthfront can let you know how much time you can spare for travel without losing grounds on your financial position. Can you afford those travels? Wealthfront has answers to all those questions and can help you out.
4. Can you afford that college for your children?
Wealthfront has an open hand to help you here. Here you can choose a college for your children, and Wealthfront would come up with how much it would cost when your child starts school. You may know how much money you need to save every month to reach the goal, you can expedite your savings based on the results.
With Wealthfront 529 account and authentic advice, you’re in a better position to send your children to a dream college. 529 account is a special account like a retirement account for saving for a college education. Wealthfront enables you to save 16% more for college than a traditional investment account because of 529 accounts. You don’t need any paperwork to open a Wealthfront 529 account but only a few clicks on your phone and it is done.
Wealthfront 529 account has a limit of $500000 per child which is enough for a child for dream education.
Along with the above special services, you can also enjoy the benefits of other saving, investing, and borrowing related queries at Wealthfront.
How much does Wealthfront charge for its services?
Now you might have this basic question in your mind “Are Wealthfont financial services free?
Wealthfont does not charge anything for cash accounts. However, the investment account charges are 0.25% of the asset under management which is required to be paid monthly basis.
6. Quicken;
PC mag has appraised Quicken as” it has such a wonderful personal finance management application that no one offers in this segment. Let us have a look at the tools and services it can offer. And let us find out are they as good as claimed?
What makes it a good personal finance management tool?
Are Quicken services free?
Quicken charges for its services. You can start using its services for $34.99 which is a meager amount for a wide spectrum of quality services it offers. You also get 30 days of money-back guarantee and opt-out if you don’t like the services.
Quicken is available for Mac and windows.
7. YNAB;
YNAB stands for “you need a budget”. Every responsible and careful person needs a budget to cater to his everyday needs without going broke. Without a budget, you don’t know where your money is going.
You must assign your money to different goals and check it if you’re on your path.
The concept of budgeting and money management is simple and that is you must know that you’re not spending more than you earn and your savings are yielding you better returns.
Why should you choose YNAB?
Conclusion:
Money is very important and if you don’t respect it by spending responsibly then you’re soon going to lose this very important thing in your life.
Also, you have many goals through your active years and you need to make better decisions that could prosper your financial life. You're busy during your active years in bringing up children, running the family, and lots of other things that require a good amount of time and focus.
With so many things to do, you hardly get time to look after money matters. And if you postpone money matters for a long time, you're financial life becomes terrible and out of control which you can't afford.
And here these online budgeting tools can help you in managing your money responsibly. You get value for every cent you spent on them. These tools not only help you in managing your finances but also you can learn a lot of things about money and its management through them which is very useful.
When you use these online budgeting tools for some time, your confidence increases along with your knowledge about money and that is a great thing.
