7 Best Free Personal Finance Tools
Use these 7 free tools – handpicked by Money Girl – to take your personal finances to the next level.
Laura Adams, MBA
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7 Best Free Personal Finance Tools
If you’re ready to improve your personal finances, it can be as easy as using a new digital tool.
No matter if you want to be more organized, stay on budget, raise your credit score, get competitive pricing information, or crunch the numbers for a financial decision, there’s an application for you.
And you might be pleasantly surprised to know that many powerful financial programs are free. In this episode I’ll tell you about 7 of the best free personal finance tools that you should start using today.
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7 Free Personal Finance Tools
Product #1: Mint.com
Mint.com and its mobile apps give you a simple, clean platform to connect all your financial accounts in one place. Transactions for all your bank accounts, credit cards, loans, investments, and retirement plans are aggregated into a single dashboard, so you have a bird’s eye view of your entire financial life.
Mint.com is loaded with features that help you create and stick to a budget, pay bills on time, create financial goals, and know your net worth. It learns how you want to categorize transactions and then does it automatically so you always know where your money is going.
You can customize your dashboard and get account updates as often as you like. This free program blows away many other financial products that you have to pay for.
See also: 5 Clever Ways to Save More Money
Product #2: AceMoney Lite
AceMoney Lite is a free personal finance software for your PC or Mac desktop. It has all the features of AceMoney, the full version that sells for $39.99, except that Lite only supports 2 accounts. It’s known for being the best free alternative to Quicken, which also has a starter product for $39.99.
AceMoney Lite is perfect for managing your home or small-business accounting needs. You can manage bills, track budgets, analyze spending, and create reports by categories. It also imports your transactions from online bank accounts using QIF and OFX file formats.
See also: Taking Home Office Deductions
Product #3: FreshBooks
FreshBooks is a cloud-based accounting system for small businesses. There’s a free version that allows you to manage up to 3 clients, and several full versions with more functionality that range in price from $19.99 to $39.99—all with live customer support.
You can bill clients by email or snail mail; set up recurring invoices; and get paid by credit card, PayPal, or many other payment gateways. You can also set up automatic payments from your clients.
What makes FreshBooks different is that you can use it on your desktop and mobile devices, so you can work anywhere.
See also: Tips to Make Extra Money at Home
All of the accounts on Checkingfinder.com pay competitive interest rates and have no fees or minimum balances.
Product #4: Checkingfinder.com
One of the best things about the web is being able to compare multiple products in one place. When you’re looking for a high-interest bank account, check out Checkingfinder.com. It gives you a side-by-side comparison of the best free accounts at credit unions and community banks.
The interest rate you’ll get depends on which institution you choose. There are a few easy requirements, such as:
- signing up for online banking
- getting e-statements
- making a certain number of monthly debit card transactions
- having at least one direct deposit, automatic withdrawal, or online bill pay each month
All of the accounts on Checkingfinder.com pay competitive interest rates and have no fees or minimum balances. Plus, they refund your ATM fees nationwide, have online banking and bill pay, and are federally insured. That makes it easy to bank long distance at no cost and manage your account from anywhere.
See also: The Pros & Cons of Using Debit Cards
Product #5: Annualcreditreport.com
Credit reports play a critical role in your finances. They determine factors like:
whether you get approved for a credit card, loan, or lease request- what interest rate you have to pay for loans, credit accounts, and security deposits
- how much you have to pay for insurance, like auto and home policies
- whether a potential employer will hire you
whether you get approved for a credit card, loan, or lease requestBecause your credit is so important, you’re legally entitled to a free copy of your credit reports from each of the 3 nationwide credit reporting agencies every 12 months. You can get all 3 at the official credit site, annualcreditreport.com.
Using this federally-approved tool to review your credit reports once a year will help you find and correct errors that could be dragging down your scores. Plus, it’s the best way to catch early signs of identity theft—like seeing an account that isn’t yours—and stop a criminal in their tracks.
See also: 7 Essential Rules to Build Credit Fast
Product #6: insuranceQuotes.com
Insurance is an expense we all have to pay, so why pay more than you have to? There are some great online portals that allow you to shop and compare multiple policies.
The secret to cutting insurance costs is to shop around at least once a year. Many people don’t realize that rates vary considerably from company to company and even fluctuate from month to month.
So, no matter if you need coverage for your car, home, rental, life, health, or business, get free quotes from insuranceQuotes.com. You’ll get the best prices from the nation’s top insurance companies.
See also: What Is Obamacare? 8 Facts You Should Know.
Product #7: Dinkytown.com
If you need the answer to just about any financial question, like whether to get a 15- or 30-year mortgage, whether to lease or buy a car, or how long your retirement savings will last, head over to Dinkytown.com.
Their library of handy financial tools and calculators will help you crunch numbers related to mortgages, loans, credit cards, debt, cars, investments, retirement savings, and taxes.
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About the Author
Laura Adams received an MBA from the University of Florida. She’s an award-winning personal finance author, speaker, and consumer advocate who is a frequent, trusted source for the national media. Money-Smart Solopreneur: A Personal Finance System for Freelancers, Entrepreneurs, and Side-Hustlers is her newest title. Laura’s previous book, Debt-Free Blueprint: How to Get Out of Debt and Build a Financial Life You Love, was an Amazon #1 New Release. Do you have a money question? Call the Money Girl listener line at 302-364-0308. Your question could be featured on the show.