There are many online personal finance tools out there to keep your finances in order to be better at credit management, investing, and being a smarter consumer. I love the following sites because they are user friendly, easy to understand, and best of all: FREE.
1. Credit Karma for Credit Management
Credit Karma allows you to get your credit score for free, so long as you sign up as a Credit Karma user. Looking at your credit report and scores is vital for knowing where you stand financially. The site gives you credit score comparisons and tools, a personalized summary of your savings, and doesn’t have any hidden fees. The only catch is that you will get notifications for financial services based on your credit score, but you don’t have to take any of the offers; this is just how they can afford to give you your credit score for free. The site also has some good tools to help you with buying a house, paying down debt, following interest rate trends and more. In a credit driven society, this is a great site to befriend for solid credit management information.
2. The Motley Fool for Investment Information and Tools
Motley Fool is an amazing site that teaches people about personal finance, with a fun twist. Normally a dry boring topic, finance is made fun with this witty and informative site. Visitors can learn about anything about investing from capital gains, dividends, strategies, retirement funds, etc., and all in easy to learn and understand English. In addition to their investment information, they also have the Fool Labs, which further aims to educate the common and sophisticated investor. Motley Fool also has very useful financial calculators that can calculate anything from a simple budget to an amortization table with ease.
3. AnnualCreditReport.com for Free Credit Reports
Annualcreditreport.com is the only credit reporting site that gives you your three credit reports from Experience, Equifax, and TransUnion for FREE. Other sites, like freecreditreport.com, will make you sign up for special offers which are not free in order to see your report. It is imperative that you look at your credit report at least three times a year and that you are also checking those of your kids if you have children. Their information can also be compromised, and you don’t want them to turn 18 and be welcomed into an unforgiving financial world with bad credit.
These are just a few personal finance tools you can use to better your finances at home. One thing everyone can do is to set up low-balance alerts with your own bank. Many financial institutions have the ability to send you an e-mail or text when your balance reaches the danger zone. You can and should be in total control of your money, and these tools will make it easier.