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Best Personal Finance Software

Best Personal Finance Software

The Best Personal Finance Software for 2018

Below is my review of the top personal finance software product for 2018. This is a popular product which has continued to thrive and grow in popularity over the last few years. Personal Finance software makes budgeting and tracking expenses easier for the average every day person and can account to a huge time savings for those who are looking to track expenses and budget. The below is highly recommended.

Personal Capital:

Personal Capital consolidates your financial accounts into one place. After the software connects all of your financial accounts, it will provide a comprehensive review and provide advice and/or recommendations.

Personal Capital is even more comprehensive than Mint.com’s software. In addition to a budgeting solution Personal Capital offers retirement and investment recommendations, and thus takes it a step further than Mint.com.

Personal Capital is a Registered Investment Adviser (RIA) with more than $6.5 Billion in assets under management and over 1 million users.

Similar to Mint.com you first register and account, enter your financial account information, and the account information will then update automatically every day when you sign in. The site provides a series of tools and charts to analyze your financial data to help you stay organized and make sense of the overall financial picture. The site will maintain information about your Income, Expenses, Budgeting, Retirement Savings, Investments, etc. Here is a list of some of the positive and negatives for this software:

Positives

  • User friendly
  • Comprehensive, detailed account analysis

Negatives

  • Investment Management Fees

Overall, this is a very user friendly budgeting and investment software that is highly recommended and can be useful to help give anyone extreme insight and knowledge as to their present financial picture and allow them to get on track, set a plan to start reducing debt and increasing assets. If you are presently not keeping track of your finances or unclear on your overall financial picture, or have been doing so in some form, but would like a more detailed view of your finances and some financial recommendations for your retirement assets, this is the product for you. Click on the retirement planner below to go check it out first hand and use the retirement calculators.

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Top Ways to Lower Fixed Expenses 2018

Lower Your Fixed Expenses in 2018

One way to speed up your path to wealth and give yourself the ability to: 1) have more cash flow to invest for passive income returns, and 2) to lower the amount of passive income required to become financially free is to lower your fixed expenses. Below are some of the top ways to do so to help you along the path to financial independence and freedom.

Top Ways to Lower Your Fixed Expenses

  1. Refinance Your Mortgage (as a general rule monthly housing costs should not exceed 30% of your monthly income)
  2. Move to More Affordable Housing (if not a homeowner)
  3. Ask Your Internet Provider for a Discount
  4. Compare Insurance Rates (shop around)
  5. Check Your Cell Phone Plan (shop around to see if you can find a more affordable provider with a similar plan or if you can slightly alter your habits to fit a cheaper plan, do so)
  6. Consider Getting Rid of Cable (There are many alternative plans out there these days where you can order subscriptions to your favorite channels and watch television shows/movies on your Roku or similar)
  7. Refinance Your Student Loans (Student loan debt can easily consume a large portion of one’s debt load and as interest rates vary over time, you should check to see whether you can refinance to save yourself some money on a monthly basis)
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