Online Tools Help you See the Big Picture
Do you ever reach the last week of the month wondering where all your money went? Personal finance tools offer a great way to track how your money is being spent and help you get a better handle on your entire financial picture.
What is A Personal Finance Tool?
A personal finance tool is an online budgeting and cash flow management resource that provides you access to all of your financial accounts in one place. Financial Center offers The Hub in online banking to help you do just that.
A recent survey by Aite suggests that using personal finance tools help change people's money behavior. In a survey of people who use such tools, three in four said they now have better control of their finances. Two in five said they are saving more money, and one in five said they are paying less in late fees.
Personal finance tools can help you in other ways.
Set and stick to a budget - If financial discipline is difficult for you, a personal finance tool can help you place limits on monthly spending categories and help you monitor your progress.
Categorize your spending - Trying to spend less each month? By tagging transactions in categories such as "dining out" or "gasoline", you can quickly and easily see where your money goes and where cutbacks can be made.
Set and manage savings goals - Do you want to pay off debt or save for a vacation or a big ticket item? Use personal finance tools to help you cut back on categorical spending and keep you on track for your savings goal.
Be prepared - A personal finance tool can help you forecast for bills and deposits so that when a bill such as your car insurance comes due, you are prepared.