Top Tools for Managing Your Personal Finance


No matter how efficient you are in working on spreadsheets, you may still find managing personal finances unnerving. The processes here involves may include going through the accounts, observing the movement of the money and tracking every dot in your finances. However, you do not have to do all these jobs; you can avail yourself of personal finance tools to make the processes easy for you. Some of the best personal finance tools for making the process easy are shortly discussed. The apps will help you not only to manage multiple accounts but also to stick to your budget and they also give you the exact picture of your financial condition. 

Mint

Mint
Mint

This is a free web-based personal finance tool. This finance tool can hook up to your different accounts including retirement funds, investments, banks, credit cards and so forth to present to you a clear picture of your financial situation. It is still offered free and still supports numerous financial institutions, however, it is only available in the US and Canada. In addition, this personal finance app allows you to create your household budget and helps you to stick to that budget by warning you when you are not doing so. It lets you know how much money you are spending on utilities as well as your purchases and hence you will be able to set your financial goals and attain them. It employs read only access to retrieve data from your financial institutions but does not tamper with your money. In addition, it suggests financial products that can help you save money. This app is provided by Intuit and its mobile apps are available for iOS, Android, Windows phone.

You need a Budget (YNAB)

YNAB
YNAB

This is a high end personal finance tool which targets budgeting. When you buy this app, you are paying for the budgeting but you also gain other benefits. The benefits range from financial literacy tutorials to budgeting tools and techniques. The app is available for OS X and Windows OS while it mobile versions are available for Android and iOS. You can access your financial data offline. The personal finance tool hooks up with your bank account and retrieves your account data to present them to you in a clear form for you to get a picture of your financial situation. With this app, you will be able to set your goal and attain them and also you will be able to make budgets easily and simply. It is sold at $60 per month but you can also get it at a cheaper price during steam sales. Proponents of this app talk about its seamlessness and ability to work with many financial institutions which may other apps do not. It also helps you to make a highly effective budget rather than living from paycheck to paycheck.

GnuCash

GnuCash
GnuCash

This is a perfect app for you if you want an open source free option to managing your finances rather than connecting to your banks or an external service. This is a cross platform app that works can be leveraged in platforms like Windows, OSX, Linus, Solaris and BSD. This means that you can easily find a version of this app for you. The method employed by this app is known as an “always balanced” method. This simply implies that for a transaction to be made, another account has to be debited for it. This process ensures that the accounts are always balanced. The finance tool can show you a clear report and graph of your finances in order for you to know what you spent money on and when you did so.


Top Tools for Managing Your Personal Finance

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