Free tools for taking control of your personal financial plan

  • This post was sponsored by FinanSavvy, however all opinions are our own.

     

    Maybe you're stuck in a budgeting rut. Or maybe you're trying to figure out the best way to save up for a house or a car. Or maybe you just want to get a jump start on retirement planning. Whatever the case, you've decided to focus on your personal finances. And there are some great free tools that you can use to help you along your journey.

     FinanSavvy is free personal finance software designed to help you make decisions about  your money. We face different types of financial decisions at different times throughout our life - buying a car, saving for a child's college, budgeting for retirement, etc.. FinanSavvy offers some free tools focused on planning for both short and long term financial decisions.  FinanSavvy is easy to use, and it doesn't link to any of your accounts. It's a great way to take back control of your personal financial plan!

     

    1. FinanSavvy Budgeting Tool

     

    The Finansavvy budgeting tool is an easy and powerful tool for creating a personal budget.  You can create your own budget, or you can have FinanSavvy create a typical budget for you based on data from Department of Labor and things like your take-home pay.  Once your budget is done, you can graphically compare it against the Department of Labor statistics on typical spending for people in your income bracket.

     

     

    The budgeting tool lets you see exactly how much you're planning to spend and what you're planning to spend it on.  When you can see what you spend, you can begin thinking about where you could spend less and would like to spend more. Having a Budget that you can experiment with means you can make more informed decisions regarding spending and saving.

     

    2. FinanSavvy Portfolio Tool

     

     The FinanSavvy portfolio tool is designed to help you organize your portfolio of investments all in one place.  You can either add items directly on the page, or you can import the items from a spreadsheet. As you list out the investments, you can add expected returns, tax information, as well as asset class.

     

     

    Once you have your investments listed out, you can see reports summarizing your overall portfolio to make sure you are investing in line with your own personal goals. This is a great way for including investment strategies in your plan for reaching financial goals and milestones.

     

    3. FinanSavvy Forecasting Tool

     

    The FinanSavvy forecasting tool is a great way to combine your budget, assets, and life events to  help you forecast your future financial position.  With the forecasting tool, you can add your age and specific life events, as well as your budget and asset information to get a general idea of how your financial future will be when specific life events - like retirement, or buying a home - arrive. With the forecasting tool, you can actually see how different decisions will affect your personal finances. Rather than relying on a "one-size fits all" approach, this tool lets you add your specific circumstances to see a more personal outcome.

     The free version of FinanSavvy offers its users the ability to create a budget, a forecast, and a portfolio.  FinanSavvy also has a paid version that allows users to create multiple forecasts, portfolios, and budgets. Creating multiple versions is a great way to compare plans to see which one best fits your needs!

     FinanSavvy is a great, free tool that you can use to take control of your personal financial plan. With lots of built-in planning features, you can use FinanSavvy to step forward towards your financial goals, and start building a plan that works for you.


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