By Lalit Sritara
Updated:
Managing your money can be complicated and time-consuming when you have to deal with so many different bank accounts, sources of income and financial products – not to mention dealing with running a household budget.
It is obvious that those who can keep on top their money will be in the best position, something that is especially true if they need to file a tax return each year.
Fortunately, there are a number of websites offering free services to help you manage your money more efficiently, many of which have been developing new and innovative tools to help you keep track. Here are five sites that can deliver much more than just staring at a statement on a screen and that say they guarantee bank level security.
Money management: An online tool could help you keep track and avoid having to trawl through piles of paperwork
OnTrees
OnTrees, which has been among the top finance applications on Apple’s App Store, is a service which allows you to create a profile where you can look at all your financial accounts in once place.
It separates your expenditure into categories, so you can see how much goes on what, and the budgeting tool offers email and SMS alerts to make sure you are aware when your expenses get close to your set budget. OnTrees is owned by This is Money's parent group dmg:media,
With a small amount of time spent initially going through and making sure your spending is categorised correctly, it can soon provide an easy place to see where money is going.
For security reasons, however, while you can see your accounts from different places on OnTrees you cannot move money within it.
Rates comparison tables are also accessible on the site to help you find the best deals. The service is also available on iPhones so it is very handy, too.
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Your Wealth
Through distinctive calculators, guides and expert advice, YourWealth is a useful tool in helping you make wiser financial decisions.
The site is divided into sections including pensions, retirement income, investment, tax planning and trusts, insurance, savings, mortgages and borrowing and Money Hub.
Money Hub is the money managing section where you can ‘budget, track and grow’ your finances in one place – a service similar to that provided by OnTrees.
Overall, however, the service is more aimed at the investing end of the scale than OnTrees' everyday budgeting.
YourWealth can be accessed almost everywhere as it can be used on iPads, iPhones, Android as well as Kindle devices.
THIS IS MONEY'S TOOLS AND CALCULATORS
Obviously, we would also add that This is Money is a very handy place to be when it comes to getting on top of your finances. Our Calculators section features tools to crunch the numbers for you, our Guides section can help you navigate the money maze and our Ask an expert section is the place to pose your questions.
You can also practice your investing skills without staking a penny with our Power Portfolio and save a packet on your household bills on our Save Money, Make Money page.
The Money Advice Service
The Money Advice Service provides financial support through detailed planners, videos, financial news and general advice on money. It is an independent not-for-profit organisation that is aimed at helping improve the nation’s personal finances.
What makes the site uniquely practical are the guides tailored for different life events such as leaving school or college, setting up a home and having a baby.
A web-chat service is also available on the site – you may ask questions on money or how to use the website, and report technical problems here.
One useful feature is the Financial Health Check that allows you to put in your personal circ*mstances and is a great starting point for getting your money sorted.
Money Dashboard
Money Dashboard has special intelligent functions that could effectively improve your money management.
Not only does it show the different categories on which you spend your money, but also makes you aware of upcoming payments and detects your spending pattern to make predictions and then sets up your personalised goals.
Further, the graphs and charts provided are friendly and colourful, making it easy for you to understand whether or not you are achieving your financial goal each month.
Money Vista
When you manage your money through MoneyVista, you will be presented with a ‘life’ chart which shows your current financial state as well as predicts your future up until the end of your life, taking into account your retirement age, life expectancy, monthly income, National Insurance, investments, etc.
Like other sites, MoneyVista offers numerous financial guides, news, access to experts and an opportunity to set goals which it will help to achieve using graphs and email alerts.
There are also unusual features, such as the possibility of adding your partner’s information to your financial plan and a forum where people can discuss problems.
However, it must be noted that most of these services are only offered to you once you register.
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