This financial planning tool enables you to budget your finances in a way that is not actually restricting. With a spot on the “Forbes Advisor Best budgeting apps of 2021” American multi-platform personal budgeting software “You need a budget” is one of the most acclaimed financial planning tools. Related Post: Mint vs Quicken Reviews: Which Is Worth Your Time? 2. Reminds you of outstanding bills to pay for.Helps in money management by creating a budget for you and tracking your overall spending. Tracks performance of your investments and sends a notification whenever it suspects a suspicious activity.Links all your financial accounts into one.Helps you in monitoring your credit score.Shows and easy to understand informative graphic of your finances.The various financial help Intuit Mint renders include: It achieves this by categorizing your transaction andĬreating a suggested budget which you can adjust, this budget is meant to be adhered strictly to in your finances. This financial planning tool enables you to kickstart that saving process you have always postponed. Mint enables you to connect all your financial assets and investments to one account in order to enable you see your financial picture. This free financial tool is well known for helping you to slow down on your spending by showing you where all your money goes. Intuit Mintįounded by Aaron Patzer in ‘2006’ this financial planning tool “mint” is one of the well-known finance tools used. There are various financial planning tools you can employ to better manage your financial life this section will highlight various financial planning tools and their main uses. READ ALSO: Top 10 Wrong Concepts About Wealth What Are The Best Financial Planning Tools?īefore making a decision on which financial planning tool to use in your finances it is advisable to write down your future financial goals in order to make sure the financial tools align with your long-term goals and needs. Most experienced financial planning analysts use wealth protection financial tools together with wealth growing tools in order to boost the financial state of clients in the firm. The wealth protecting financial planning tools have the main goal of serving as an alternate means of providing financial support in the scenario of an unexpected event like accident, illness, or death especially when involving the sole provider of income in the family, society, or a business. Wealth growing financial planning tools like equity-based VUL life insurance Despite the idea of a tool that would help you double your finances sounding good to the ear, you should always remember that a higher reward requires a higher risk hence the possibility of losing your finances in the process of trying to make more. These tools are employed when you want your money to be invested and yield interest over a specific amount of time.īefore opting to use a wealth growing financial tool you need to have an in-depth knowledge of risk and reward. Wealth growing financial planning tools enables you to grow and increase your money as time goes by. Financial planning tools can offer a great improvement to your finances in two ways which are Financial planning tools are useful in managing your finances especially when you are planning towards achieving a specific financial goal. Is it really worth it? There are thoughts that might be going through your mind. You might be wondering if you should employ a financial planning tool. Why Should I Use Financial Planning Tools? Some of the financial planning tools are also based solely on professional financial advisors and financial companies an example is the well-known “MoneyGuidePro”. Most of these financial planning tools come in various models with various ranges of features, some of these models are not complex hence enabling both a beginner with no prior knowledge of financial planning and an experienced financial planner to make use of them.
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