When you are struggling with finances, it can seem like it is a pain to handle everything. Keeping track of everything can be difficult and doing all the math by hand can result in mistakes. Additionally, there are all the percentages that you need to learn for the various loans, bank accounts, and more.
Fortunately, there are ways to make it easier for you. There many online tools that can help you manage your finances better and easier. Here are some that you should look into.
Budget Planner
The first tool that you should look for is a budget planner. The biggest problem that many people face when it comes to managing their money is their lack of a budget. A budget is a complete listing of where your money should be going every month. While it can be simple to do it by hand, budgeting apps can make it much easier by providing you with simple categories of what you are spending on.
For example, it may seem easy to remember but some people forget to add their utility expenses to their handmade budget which results in further problems. Thanks to the fact that it is online or an app, there is no excuse to check it regularly with your smartphone, which ensures that you will stay on track.
Portfolio Manager
If there is anything that you should be doing with your money, it is investing. While there are many things you can invest in, stocks and bonds are very popular because of how they can provide big returns for a comparatively small investment. But to get the most out of them, you need to manage them properly. It can get confusing though and you need the best information possible when you are buying and selling stock.
Online portfolio managers keep track of the stocks that you have and even make it easier to determine whether you are losing or earning money on them. With a central manager, you can also know the status of your retirement funds and more. There are several portfolio managers out there and each brings something different to the table. While some are free, others have fees, but they make up for it with additional features.
Loan Calculators
There are times when you need to buy something expensive. This can range from a house to a car. When you don’t have the funds for a big purchase and can’t wait to save for it, loans are an important tool. But it is easy to make a big mistake when it comes to taking out a loan. Many people just look at the money that they will be getting and not thinking about other factors.
This is where using online loan calculators can help. For example, a reliable mortgage calculator can allow you to experiment with the amount of money you can get. These tools allow you to input various factors and see what you will end up paying every month or how much you might get. This is great for your budgeting.
Expense Tracker
Even with a budget, people can still overspend. This is because they don’t keep track of their current expenses. With an expense tracking app or tool, you should be able to better control your spending. The greatest advantage of an expense tracking tool is that you usually have it on your smartphone. You can easily log-in each expense so that you know what you spent money on when you are reviewing your expenses. You can also set warnings if you reach particular spending levels. This will help curb out-of-control spending and can even help you save a bit every month.
Accounting and Tax Software
If you are self-employed, one of the most useful tools you can have is proper accounting software. Besides helping keep track of your company expenses, they are usually a big help when tax time comes. Automated bookkeeping allows you to easily print out the results for your accountant. Additionally, some developers of accounting software also offer tax software. You can easily do your taxes with the help of both instead of depending on an outside accountant.
Many people don’t manage their finances better because they find it too difficult. They do it by the seat of their pants or by looking at their bank account. Without proper planning, these people are not getting the most out of their money. The tools above should allow you to do financial management without the headaches, making it possible for you to get more bang for your buck.
Meta title: Online Tools to Ensure That You are Handling Your Finances Right
Meta desc: Many people have a hard time when it comes to managing their finances but it can be a lot easier with some help. There are a variety of online tools out there that can assist you when it comes to finances.
