Economic Insider

6 Personal Finance Tools You Must Have

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Managing finances then and now are two completely different stories. With the rise of multifaceted FinTech platforms and the downfall of traditional banking, methods that were once effective 10 years ago were in dire need of a substantial overhaul to fit with the growing and changing needs of today’s modern financial paradigm. 

Ten years ago, people would visit physical bank branches, fill out paper forms, and tirelessly wait in long queues. While this setup still occasionally exists, it’s now the exception, not the rule. Today, cutting-edge FinTech services have paved the way for modernized personal finance management, with breakthroughs like robo-advisors, financial routers, and P2P payment systems, just to name a few.

Moreover, financial literacy is at an all-time high. Modern spenders are now empowered to take greater control of their finances, partly due to the ever-evolving landscape that requires users to continuously navigate and adapt. 

As the world continues to witness tech advancements and the emergence of new financial tools, it is essential to stay informed, remain adaptable, and embrace the opportunities offered by FinTech to effectively manage finances in today’s dynamic era.

Here are 6 personal finance tools that you must have in today’s FinTech-driven era:

Visualize Your Cash Flow with Sequence

As the world’s first financial router, Sequence enables users to gain a comprehensive view of their entire financial landscape, where all their accounts, banks, apps, and credit cards come together harmoniously. 

This groundbreaking product is reshaping the consumer and SMB finance management industry by seamlessly integrating all financial services, (banks, apps, loans, credit cards, investment accounts, and more), empowering users to efficiently manage, automate, and actual transfer finance from one service to another their financial activities within a unified platform.

Gain Budget Control with YNAB

YNAB offers more than just budgeting software; it presents users with an opportunity to reevaluate their financial perspectives. Through YNAB, people can discover effective methods for reducing financial stress and cultivating healthier relationships with their finances. The solution includes access to award-winning software that seamlessly integrates the proven YNAB approach.

YNAB understands the significance of personalized support, which is why the platform provides dedicated 1:1 email assistance to guide users throughout their financial journey.

Invest Wisely with Betterment

Betterment is an investing and savings app with a singular purpose: to assist individuals in growing their wealth for improved living. Users can easily sign up and gain access to goal-setting and planning tools at no additional cost. 

For a single, transparent fee, individuals can invest their money using automatic deposit and trading features that put their assets to work. Betterment offers a comprehensive financial solution with opportunities to earn through interest and investment growth, plus the chance to maximize savings with rewards on everyday spending.

Optimize Your Spending with PocketGuard

Dedicated to individuals in search of a straightforward and user-friendly budgeting app, PocketGuard is an intuitive tool that seamlessly syncs with their financial accounts, diligently monitors expenses, sends timely bill reminders, and offers comprehensive spending analysis. 

PocketGuard streamlines the process of financial management, empowering users to take command of their finances, optimize spending, and effortlessly nurture their savings. What distinguishes PocketGuard is its commitment to providing flexibility to users, allowing them to tailor their budgeting experience with clear-cut guidance.

Control Your Bills with Prism

With a strong focus on exclusively streamlining bill payment, Prism is a specialized app designed to simplify the often stressful bill-paying process. After downloading Prism on their phone or tablet, users are prompted to select their billers. Once these accounts are linked, Prism seamlessly syncs their account balances and outstanding bills, presenting a clear overview within the app. 

This user-friendly setup empowers individuals to effortlessly manage and pay their bills directly from the Prism app, putting control of their finances at their fingertips.

Boost Your Retirement Plan with Empower

Empower offers a Retirement Planner feature that helps users see if they’re financially on the right track and learn what they can do to improve their chances of retirement success. What’s more, this financial tool includes a Recession Simulator that can show users how their retirement plan would have been impacted by a market event.

The company’s goal is to give financial freedom to all by providing personalized advice, guidance, and essential support. The organization is dedicated to addressing the distinctive needs of each person it serves and is enthusiastic about the prospect of inspiring them throughout their financial journey.

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