Money Management Tools

There are many money management tools available to help budget, allocate and invest one's income. They are software packages that are offered by various companies and can be purchased at most stores handling computer products. Others are actually free downloads that have many of the same features as the retail products. Web 2.0 has given new life to money management tools, offering things such as online banking, real time tracking of banking transactions, personal finance, investing, business tools, shared bills, real estate offerings and many other features. What personal bankers and investor advisors used to do can now be accomplished by the software tools on one's home computer.

Some money management tools have new slants on helping the average consumer handle the smallest of expenses. Some tools allow the user to keep track of tiny nickel and dime expenses. A mobile ability allows those expenses to be sent home online. This is a great reminder for those little tiny expenditures that don't get put into one's checkbook and then mess up the balance. Others make it easier for a consumer to change banks dealing with small details that might be forgotten when switching banks. Yet others are designed to help friends and families end the quarrels over who paid last and who owes whom. This is not a personal finance manger but rather a replacement of the old I Owe You notes.

Other free online tools enable family members keep track of family budgets online which will give each person a look at what which account's spending must be curbed. And some sites allow a community of people such as several close families and their friends trade debts such as dinner tabs and certain other expenses with each other to keep the slate as balanced as possible. Web 2.0 which is really a description of all the new social networking, video, user friendly and joy of use capabilities of the Internet have brought about these new concepts in money management tools. Even the software that has been available for years are adding new capabilities unthought-of a few years ago. So more accountability for finances is now within a mouse click away.

In the past, when someone's word was like gold, most financial discrepancies could be solved either with a frank discussion or simple paperwork. Now with all of us living in a financial "guilty till proven innocent" ruled world, as well as a world of identity theft, it becomes crucial for all consumers to keep exacting records of every dollar spent. With all of the free and low cost money management tools available, there is little excuse for anyone to say they really don't know what's going on with their money. Did you know that having known sin in one's life keeps God from hearing our prayers? "If I regard iniquity in my heart, the Lord will not hear me." (Psalm 66:18)

In the world of investing, money management tools are becoming more and more sophisticated, allowing real time access to the stock market and the ability to instantly buy or sell paper investments. There are tools from websites that can help a consumer figure out how long it will take to make a million dollars with the ability to put in variables that mirror the consumer's own situation. Just simple household budget templates are offered for free from many budgeting websites and answers to almost any financial questions a person might have are myriad. Questions such as how much a hybrid car will save a person and the wholesale value of one's car are also answered on line. Websites that break down investing and credit issues into simple everyday language can help any consumer gain a good understanding of what may otherwise be intimidating subjects.

There are very helpful money management tools for recent college graduates available online and some banking websites. These websites offer such things as understanding what money management really is, structuring a budget, what to do with pay raises, limiting tax liabilities, understanding deductions and even help in filling out tax forms and many other topics. Some of the websites can help a recent grad understand how a FICO score is put together and how it can be raised and lowered. There are budget worksheets especially designed for those just starting out in the real adult world with specific line items perhaps not relevant for those who have already made many of life's big purchases. Even coaching on living a simple lifestyle to avoid credit problems can be found on money management websites.

Of course if one wishes, a financial company offering money management tools for a price are available either online or in most towns and cities. In this case, the "tools" they will offer will be in the form of offered financial products. Investing, saving, budgeting and monitoring month by month expenditures can be handled in a one stop visit. These agents will take all the mystery and work out of correctly handling one's money and in most cases it will be done with a solid result of increased wealth over time. But all of these software packages and websites and financial management firms cannot help someone who wants to be undisciplined in fiscal matters. Some people resent having to watch their spending, keep a budget and write down or enter expenditures. The truth is that that kind of discipline makes some people feel poor and trapped, but the reality is the most imprisoned are those who live a life paycheck to paycheck because of no plan for their dollars.