It is always hard to ignore the necessity of managing your finances. In reality, financial planning is the only highway to a secure future. It helps you to get smarter with your money and avoid debt. People who are casual with their finances are usually the ones who fall prey to scam companies offering debt management services. So it is absolutely essential to chalk out a financial plan for yourself. However, we are all running out of time and it can be quite difficult to plan your finances manually. But there is so little to worry now! Some amazing online financial tools are out there to solve your regular financial problems. These will certainly help you to take care of your finances without taking much time. The surprising fact is that these tools come for free! Let us have a look at these popular financial planning tools.
SimpliFi
It is suggestive from the name that this is a simple financial tool. Enter the required data and this tool will tally your savings against your investments and display the result. This tool also helps you with advice on the kind of investments that will work for you. SimpliFi will suggest you suitable steps to take after analyzing your situation. This may include paying off a certain debt or buying insurance. However, it’s not advisable to follow its advice blindly. After all, it’s just a financial tool. Though SimpliFi is registered as a financial advisor with “Securities and Financial Advisor”, sometimes the results it produces are a bit general and can even turn out to be faulty at times.
This is our second financial planning tool that is built on a smart interface. Voyant will help you to make your financial plans through a step by step process. This tool will show you in a graphical manner your probable future savings after entering some data. If there is any apprehension regarding your new plans, Voyant is capable of presenting your possible financial situation in different circumstances. For example, here you can guess the possible growth rate of your investments. This financial planning tool also has a bunch of other features like divorce, child birth and new business that can have an effect on your finances. Further, Voyant has a forum where you have the opportunity to interact with others who can tell more about this tool or about financial planning. However, the number of financial planners available in this forum is pretty less.
ESPlannerBasic is a financial planning tool that is quite different in its approach from the previous two. This will ask you a series of questions taking half an hour and then start analyzing the data. After this, it’ll provide you with some recommendations on your savings, spending and retirement plans. However, ESPlannerBasic will ask you some weird questions like what can be your possible salary at the time of your retirement. ESPlannerBasic also has a paid version that is supposed to provide forecasts and recommendations more accurately.
Now these three financial planning softwares can certainly help you to manage your finances more efficiently than before. Further, they will also help to lead a blissful and debt-free life. Just go and try them out.
Marc works at OVLG, a specialist in offering consumers their tailored debt management program.
In addition to the ones that you have listed, I would like to add http://www.mint.com. It helps you keep up with your money so you will have more money to invest and build wealth.