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Build More Wealth Using This Free Finance Tool

Nowadays, there are dozens of finance apps you can install in your phone.

So, why settle on one app to track your finances?

For starters, it’s easier to manage. But, you don’t need one app to do it all because no app can. Instead, rely on one app to track your expenses, cash flow, and financial goals.

You can read dozens of reviews and install several finance apps at once. But, as you’ve guessed, this can take a long time.

So, how do you know which app to install?

The good news is that I’ve found an app worth installing on your phone. This app has helped me grow my net worth and better manage my money.

I can’t guarantee what financial success you’ll experience. But, you’ll have more control over your finances and make better financial decisions.

Ready to learn more about this app? If so, here’s my honest review.

How my net worth skyrocketed after tracking my money

chris-net-worth

Not too long ago I was thousands of dollars in debt.

A big reason for this was not having an effective way to review my finances. After paying off my credit card debt I realized the power of tracking my money.

During this period I’d installed several finance apps such as Mint, and YNAB. To an extent, they’d helped but, I’d stopped using them.

My finances started to improve when I’d installed Personal Capital. After syncing all my accounts I saw my negative net worth for the first time. This became my biggest motivator to improving my finances.

I could no longer hide from the truth. And because of this, I had to make positive changes. I started tracking my spending and searching for ways to cut my expenses.

When I could no longer save more I searched for ways to increase my income. So, I read dozens of business and finance books. I also took courses and sought for different ways to invest in myself.

Eventually, I’d transitioned into a new role and earned $25k more– I’ve grown since. Personal Capital didn’t have a feature to help me grow my income. But, it helped me organize my finances well and made it easier for me to know which areas I needed to improve on.

The reason behind this app’s popularity

Chances are that you’ve heard of Personal Captial from somewhere.

But, if you haven’t you may be wondering why it’s popular. Think of Personal Captial as a budgeting tool that can help you prepare for retirement. And, you get all these features for free.

All this with a clean user interface. For example, when you login Personal Capital you view the following dashboard:

personal-capital-dashboard

Plus, no ads! What’s not to love about this?

boost your net worth by tracking your money effectively

Here’s the deal, you want to improve your finances.

Otherwise, you wouldn’t be reading this post. There are dozens of apps out there that claim to be the best, but why should that matter? You should only care if an app can help you save or make more money.

As I’d mentioned before, when I found out my net worth was negative I’d felt terrible. But, instead of letting this experience crush me, I used it as my motivation.

I used Personal Capital to view how I was spending my money and cut unnecessary expenses. I also invested more in myself and searched for ways to grow my income. Through all this effort I managed to have a positive net worth.

And, I know the same can happen to you.

It won’t happen with luck. In fact, it will be one of the hardest things you’ll do. But, by knowing your net worth you’re off to a great start.

As you review your finances more often you’ll start making better financial decisions.

why settle on using this money app

Personal Capital has features most finance apps have nowadays.

For example, budgeting and saving features are the norms for any finance app. Other similar features include email notifications, and syncing several bank accounts. But, here’s where Personal Capital shines:

  • 401k Fee analyzer: Not too long ago investors paid hidden fees on their investments. Today, you can easily avoid this by using Personal Capital’s fee analyzer. This tool will help you avoid hidden fees and rebalance your portfolio.
  • Retirement Planner: With Personal Capital’s algorithm you can determine your “retirement readiness.” Some of the key features are seeing projected returns by market conditions or tax status. All this with a few clicks and easy to understand charts.
personal-capital-retirement-planner
  • Financial Management: Personal Capital acts as your fiduciary advisor. This means they’ll invest for your best interest and not the other way around. No hidden fees or surprises with your money.The best part is getting custom investment strategies based on your personal data.
personal-capital-education planning
  • Asset allocation: Have personal asset selection based on your cash flow. Here’s how it works, Personal Capital uses your existing data to capture your entire cash flow and retirement goals. Like magic, Personal Capital’s algorithm does the rest. It will calculate how much money you’d need for retirement and the growth rate required. 
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personal-capital-fee-structure
  • Ad Free: I’d mentioned this before, but it’s worth mentioning again. Most apps monetize their services through annoying ads. While it’s better than nothing, nothing beats having zero ads.You may be wondering how Personal Capital is able to pull this off. Because it offers wealth management services, it doesn’t need to rely on ads for revenue.

Don’t install this app if you’re experiencing these results

It’s common to see 5-star reviews on most items people review right?

Although Personal Capital has had a positive impact on my finances, I know it’s not for everyone. Here’s why you shouldn’t use Personal Capital.

If you’re already experiencing financial success stick with your current money strategies. Many times I’ve had bad experiences changing something that’s already working. Besides this here are other reasons on why it wouldn’t make sense to use this app.

1. You get overwhelmed with too many features

What’s the point of an app if you won’t use it? Personal Capital is a great budgeting tool, but it also has many bells and whistles. If you’re someone who doesn’t work well with a lot of features, a simpler app would work better for you.

2. You don’t want to share your bank’s information

If you don’t like to share your personal information Personal Capital won’t suit you. A big feature of Personal Capital is syncing with all your bank accounts. And, if you end up using Personal Capital’s advisors they’d need more information.

Above all, trust your gut. If this app doesn’t feel right for you don’t take the leap. But, if you’re looking to manage your money better and have tried dozens of apps, Personal Capital is worth a shot.

nothing’s stopping you from building wealth

If you’re not happy with your finances then you are to blame.

But, this is something to be proud of. Why? Because it means you can change your current situation.

It’s important that you know no app can improve your finances–only you can. Take initiative in managing your money better and leverage the help of finance apps to help you reach your goals. Improving your finances is a lifelong journey, so enjoy the process.

Imagine feeling confident about your financial future. Your net worth is on track to hit a million and you have zero debt. Wouldn’t this be amazing?

All it takes is hard work and dedication. Easier said than done, I know. But, using motivators such as your net worth can help you along the way.

If I was able to experience success, so can you. Financial success is within your reach. Now go and make it happen.

About the Author Chris

Chris writes personal finance and productivity articles for software companies. He gets fresh ideas through continuously investing in himself and interviewing successful entrepreneurs.

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