5 Best Money Management Tools
While it’s perfectly okay to manage your money the old-fashioned way, new technology has paved the way to the creation of smart money apps that can help. By signing up for any number of these apps, you can get help tracking your spending, saving more money, or figuring out the best way to pay down debt.
While some of the best financial applications are geared towards smartphones, others are regular websites with special features that add maximum value. Best of all, nearly all of the money tools offered online are absolutely free.
If you’re not a huge fan of new technology, these apps might sound like more trouble than they’re worth. But, trust us, you’ll be hooked once you give them a whirl. Check out these apps and websites to find the right tool for your needs:
Scared a credit card will cause you to overspend? Signing up for Debitize can remove all of the guesswork. Once you link all of your accounts with Debitize and start using credit, money from your checking account is automatically set aside to cover each purchase you make. In that respect, Debitize helps turn credit into debit preventing you from overspending and keeping you out of debt.
By signing up for the app, you get all of the benefits of using credit without all the risk. So, you can earn credit card rewards and enjoy benefits like zero fraud liability and purchase protection without the risk of spending more money than you have.
While Personal Capital is an online financial advisory firm, they offer special features and tools to individuals who sign up for a free account. Once you connect your bank accounts, investment accounts, credit cards, and debit cards, Personal Capital allows you to track your spending and net worth with helpful charts and graphs.
Other tools they offer can help you get further ahead. For example, their 401(k) fee analyzer can help you determine how your investment fees add up, and how they compare to the benchmark. Meanwhile, Personal Capital’s retirement planning application can help you assess your retirement strategy and determine whether you’re on the right track. Signing up with Personal Capital is free, as are all of these helpful tools.
Mortgage Refinance Calculator
Wondering whether now is the right time to refinance your mortgage? Stop wondering, and find out. With LendingTree’s Mortgage Refinance Calculator, you can experiment with multiple scenarios to determine how much you might save with a refinance, what kind of interest rate you might qualify for, and how your monthly payment might look with a new loan.
You can also use the calculator to compare mortgages with different terms (e.g. compare a 15-year loan to a 30-year), and find out how your credit score might come into play. Either way, you have nothing to lose by taking advantage of this tool. Not only is it extremely easy to use, but it’s absolutely free, too.
If you’re looking for an application that lets you follow each dollar you earn and spend, Mint.com is it. With this smart money app, you can create a monthly budget, monitor your spending to make sure you’re on track, keep a close eye on your credit score, and received a detailed analysis of your spending habits every few weeks.
The fact that Mint is available for mobile means you can manage your money effortlessly no matter where you are. Best of all, it’s absolutely free to set up an account and get started.
Debt Consolidation Calculator
LendingTree’s Debt Consolidation Calculator can be a lifesaver if you’re struggling under the weight of high interest debt. With this web application, you can find out whether refinancing or consolidating your debts at a lower interest rate could help you save money or lower your monthly payment.
Simply enter your information into the calculator to see how much interest you’re paying now, what kind of interest rate you might qualify for, and how much your new payment might be. And if you want, you can even see qualified loan offers at the end of the process.
If you need help managing your money or figuring out your next financial move, an array of websites and applications are standing by to help. So, don’t let a fear of technology get in your way. If you’re able to embrace technology and the change that comes with it, you can use it to get ahead.