The top Finetech companies all over the globe have presented several tools that can help us manage our finances. This tool can help in budgeting, making investments, and even in credit score monitoring. These tools help to get a better understanding of the finances.

These tools help us to manage our money and make smart financial decisions for our businesses. Among the numerous software applications, here are the seven best free financial tools to help you make the best financial decisions.

Google Sheets

This is one of the most widely used and popular applications. This helps its users to easily track their spending with the sheets. At the same time, there are free budget templates that are available with this application.

Finance functions are available and offered with Google, which makes it easy to import data on stocks, ETF, and even mutual funds. All these features make it easy for you to develop a free investment tracking spreadsheet.

Mint

This is one of the original online budgeting applications that can track everything, right from budgeting to investment accounts. The application also shares information about the bills and subscription trackers, along with the tools to monitor your credit score.

The application is designed to keep investors in mind. This allows users to create saving goals, monitor bills and expense categories. The application uses an advertising model to generate revenue.

Personal Capital  

Personal Capital is claimed to be one of the best overall money management applications available in the market. This application helps you to track your income, spending, bank account, home value, credit cards, and even crypto investments.

The application also shares a wealth of data related to your portfolio. With the help of this application, you can analyze your asset allocation, invested costs and even track your financial progress as you move closer to your retirement. The free analyzer feature of the application allows you to calculate your weighted average cost and how these costs will affect your wealth over a period of time.

The application is also powerful enough to track your investments, dividends, and interests. It also sends you a reminder for the bills that remain due with a savings plan to help you reach your savings. The application is also available for smartphones and tablets.

Portfolio Visualizer

This application cannot be said as the perfect budgeting tool. Instead, it offers tools that give an opportunity to the users to evaluate their investments. Once you enter your investments, the application provides data on the basis of performance and risks, among other things.

The tool also gives some additional features. For instance, it allows you to run Monte Carlo simulations of a portfolio and enables you to model approximate investment suggestions with regular contributions and regular withdrawals. All these features make the tool useful regardless of your stage of investment. It also has features for factor analysis, timing models, and portfolio optimization.

Goodbudget

This is a budgeting tool that makes the most optimal use of the envelope system to generate budgets. The tools offer both a free and a paid version. It allows you better manage all your debts and set your savings goals. The application can operate on all types of devices, enabling the users to manage and monitor their money across different devices.

The application also offers bootcamp ideal for all those who are new to budgeting and managing money. The bootcamp helps its users by covering everything from savings and emergency funds.

Morningstar

This is also one of the most powerful financial portfolio managers in the market. The application offers a paid subscription. At the same time, it allows you to track your portfolio for free. At the same time, its drawback is, the users have to manually enter details and maintain their portfolio. On the other hand, the application offers some of the most robust data and ETF’s as well as mutual funds that are available to retail investors.

Trim

The application helps its users to save money once their accounts are connected with the application. The application analyses all the spending to identify the ways in which you will be able to save your money. The application has smart algorithms that negotiate on your behalf to cut down your monthly costs on everything right from your phone bill to your medical expenses. The application also helps you to identify old subscriptions that you may want to cancel. The application allows you to create free accounts, and only with your permission, the application is able to negotiate to save your money.

There are several financial tools that might want to grab your attention, and choosing one among them might seem overwhelming. The task of selecting the best financial tool can be made easy with the help of the list presented above.

Source – Forbes