With hundreds of tools available for money management, it would seem unnecessary to add any additional money management tools. One of the biggest complaints about the past tools are that they required a lot effort, but didn’t offer much for all of the work. At the same time, a lot of people were simply overwhelmed by the many alternatives. In attempt to solve these issues, here are some new money management tools that are worth trying out.
This program is both, free and fun to use. With this site, you will receive a personal financial score generated from how well you are managing your money. Afterwards, you will receive tips and suggestions on how to increase your score. The goal is to reach a perfect score of 1,000. The total amount of time to enter all of your information is approximately 15 minutes.
Beyond simply managing your income and expenses, this free site will provide step-by-step advice on how to refinance your mortgage, picking the best retirement plan, and finding the highest-yielding savings account. You can also quickly search for a specific category and see if you are overspending in that area.
Future Advisor & Financial Guard
These two applications focus on online wealth management, also known as algorithm-based investment advice. They encourage investing that prepares you for retirement. It is an inexpensive brokerage that you can that is available around the clock. Once you answer some general questions on their quick questionnaire (age? plan to retire?), the site will research your information and determine what you should buy, sell, and hold. You will also receive notices, periodically advising you to rebalance the portfolio.
This program will recommend commission-free ETFs and low-cost index funds, while providing investment picks and asset allocation analysis for free. This service cost $9 per month, if your household income is $50,000 or less. If the household is more than $50,000, the cost is $19 per month. Future Advisor will make trades for you and automatically rebalance your portfolio, every quarter.