The Best money management tools and resources you need

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I know you love getting things done yourself, it makes you feel more in control and confident of success. However, when it comes to managing your money well, you can’t do it all by yourself. You need excellent tools to help you and the best resources possible. Things that will make your journey to financial stability easy. Hence today we will be looking at the best money management tools for every financial goal you want to achieve.

10 Money management tools for different needs

Here are some of the top money management tools that can help you effectively manage your finances, budget, track expenses, save, invest, and more:

Budgeting and Expense Tracking

1. Mint
   • Features: Tracks spending, categorizes expenses, sets budgets, and provides alerts for bill payments.
   • Best For: Comprehensive financial overview and budgeting.
2. You Need a Budget (YNAB)
   • Features: Zero-based budgeting, goal tracking, financial education.
   • Best For: Hands-on budgeting and proactive financial planning.
3. PocketGuard
   • Features: Shows how much disposable income you have, categorizes expenses, tracks bills.
   • Best For: Simplified budgeting and expense tracking.

Investment Management

1. Betterment
   • Features: Automated investing, personalized financial advice, tax-efficient strategies.
   • Best For: Hands-off investors looking for robo-advising.
2. Wealthfront
   • Features: Automated investing, financial planning tools, tax-loss harvesting.
   • Best For: Automated investing with comprehensive financial planning.
3. M1 Finance
   • Features: Customizable portfolios, automated rebalancing, no fees on trades.
   • Best For: Investors who want both automated and self-directed investing.

Credit Monitoring

1. Credit Karma
   • Features: Free credit scores and reports, credit monitoring, and personalized recommendations.
   • Best For: Free and frequent credit score updates and monitoring.
2. Experian
   • Features: Detailed credit reports, credit monitoring, and identity theft protection.
   • Best For: Comprehensive credit monitoring and identity protection.
3. myFICO
   • Features: Access to FICO scores, detailed credit reports, and credit monitoring.
   • Best For: Accurate credit scores widely used by lenders.

Debt Management

1. Undebt.it
   • Features: Debt repayment planning, snowball and avalanche methods, progress tracking.
   • Best For: Creating and managing a debt repayment strategy.
2. Tally
   • Features: Credit card debt management, automated payments, interest savings.
   • Best For: Automating credit card debt payments and reducing interest costs.
3. Debt Payoff Planner
   • Features: Debt payoff strategies, progress tracking, customizable plans.
   • Best For Planning and visualizing debt payoff strategies.

Retirement Planning

1. Personal Capital Retirement Planner
   • Features: Retirement readiness assessment, investment tracking, financial planning.
   • Best For: Comprehensive retirement planning and investment management.
2. Fidelity Retirement Score
   • Features: Retirement readiness assessment, recommendations for savings adjustments.
   • Best For: Evaluating and improving retirement preparedness.
3. Vanguard Retirement Nest Egg Calculator
   • Features: Estimates retirement savings longevity, different withdrawal rates.
   • Best For: Estimating how long retirement savings will last.

Tax Management

1. TurboTax
   • Features: Guided tax preparation, maximizes deductions, audit support.
   • Best For: Easy-to-use tax filing with comprehensive support.
2. H&R Block
   • Features: Online and in-person tax preparation, accuracy guarantee, audit support.
   • Best For: Professional tax preparation with multiple service options.
3. TaxAct
   • Features: Affordable tax preparation software, step-by-step guidance, refund maximizer.
   • Best For: Budget-friendly tax filing with robust support.

Educational Resources

1. Investopedia
   • Features: Financial articles, tutorials, dictionary, investment guides.
   • Best For: Learning about a wide range of financial topics.
2. Khan Academy Personal Finance
   • Features: Free courses on budgeting, saving, investing, and more.
   • Best For: Comprehensive personal finance education.
3. The Financial Diet
   • Features: Practical advice, tips, and resources on managing personal finances.
   • Best For: Practical and relatable financial advice.

Financial Planning

1. CFP Board’s Find a CFP® Professional Tool
   • Features: Directory of certified financial planners, personalized financial advice.
   • Best For: Finding certified financial planners for personalized advice.
2. The Financial Gym
   • Features: Personal financial coaching, goal setting, budgeting.
   • Best For: Personalized financial coaching and planning.
3. SmartAsset
   • Features: Financial advisory matching, calculators, and financial planning tools.
   • Best For: Connecting with financial advisors and using planning tools.

Banking

1. Ally Bank
   • Features: High-interest savings accounts, no-fee checking accounts, online banking.
   • Best For: High-yield savings and no-fee banking.
2. Chime
   • Features: Fee-free banking, early direct deposit, automatic savings.
   • Best For: Fee-free banking with modern features.
3. Capital One 360
   • Features: No-fee checking and savings accounts, and competitive interest rates.
   • Best For: Comprehensive online banking with no fees.

Apps for Saving Money

1. Honey
   • Features: Automatic coupon finder, applies discounts at checkout.
   • Best For: Saving money on online purchases.
2. Rakuten
   • Features: Cashback on purchases, rewards at thousands of retailers.
   • Best For: Earning cashback on online and in-store purchases.
3. Acorns
   • Features: Rounds up purchases, invests spare change, automated savings.
   • Best For: Easy and automated saving and investing.

Conclusion

Utilizing these tools can help you gain control over your finances, make informed decisions, and work towards achieving your financial goals.