Personal Financial Management Tools

Kimberly Watson, Editor in Chief
July 02, 2012 /

There are a significant number of consumers who are utilizing the benefits provided by personal finance tools that are available on the Internet. Although they have been established for a relatively long time, it is only recently that their value has been generally and fully appreciated. It is estimated, that about twenty five percent of consumers surveyed, make use of this particular facility.

The advantage of this type of financial support is demonstrated by the ability to organize a variety of bank accounts, associated with credit and debit aspects. The personal finance tools enable the tracking of expenditure and categorize it for easy reference and control. This is especially beneficial when related to eating out and spending on entertainment.

With the state of the economy causing some financial discomfiture to many consumers, the use of personal finance tools has become a necessity for a disciplined budget. This facility has the ability to influence financial behavior patterns, with various users confirming that they are now saving more money and paying less towards late fees.

There is a large variety of personal finance tools available, for example; Mint.com, on which you can upload account details and view immediately, the directions in which your money is flowing. The ease of use related to this particular facility, has gained it popular recognition.

About twenty five percent of financial institutions offer personal finance tools. Although reports show that they have not achieved popularity with consumers, to the same extent as the independent sites, it could be worth checking any improvements carried out.

Meantime, a variety of new online personal finance tools are being presented; with free tools, advice and financial planning benefits, which are charged for. However, there are sites that provide free budgeting templates.

 

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