There are many financial planning apps on the market that can help professionals make informed decisions regarding the management of clients’ funds and other research. They also aid investors in keeping track of their income and expenses and preparing budgets.
Mint app, which can be used to track the money automatically after the person has entered some basic information, a Level app that shows the amount of money a person is allowed to spend in a specified time, which aids in financial planning, and soon.
What are Financial Planning Apps?
Both professionals and individuals need financial planning apps. These apps are used by professionals to make informed decisions about their clients’ funds management and financial research. Individual investors use financial apps to create budgets, keep track of income and expenses, organize the details of their investments, and connect all of their accounts, whether personal, retirement, mortgage, and loans, with the goal of achieving a complete picture of their net worth.
You can use a variety of financial planning tools and apps to help you achieve simple goals like tracking your expenses and saving. However, there are also more complex financial planning apps that offer detailed financial information and financial statements, along with expert analysis, for specific companies, Like Profit & Loss statements and dividend history, financial ratios, and information about different markets, Finance. They provide updates and expert analysis on upcoming IPOs as well as information about how IPOs are doing on the indices.
Also read: Why should Use Financial Planning Software for Small Business
Top 4 Free Financial Planning Apps
People are so busy living their lives, it is difficult to concentrate their efforts on the most important aspect of earning income: Savings. Investment Banking professionals, particularly wealth managers, work in the money management business. However, if you want to gain first-hand experience and take care of your own finances, There are many mobile apps that can be downloaded for free from cyberspace. These mobile apps are quick and easy to use and allow you to keep track of all your financial information.
There are many free financial planning apps for mobile devices on the market. Some of these are listed below.
1. Mint – Best financial planning app
Mint is a mobile financial planning app that allows you to track your money and automatically track it. All you require to do is enter basic information and Mint takes care of the rest by giving you important information from time to time.
2. Pear Budget – Web-based financial planning app
Pear budget is another web-based financial planning tool that uses a spreadsheet format. This means that information must be manually entered. You can modify the expense categories later. Although it isn’t as efficient as other options, it serves its purpose, particularly for first-timers.
3. Level money – Financial planning app
Level money is, as the name implies, increases the amount you can spend each month, week, and day. This financial plan app automatically collects data from your phone and sends reminders about how much you have left. This helps to level the savings and expenses rate. You can also see your spending habits based on the information it has received.
4. GnuCash – Linux-based financial planning app
GnuCash is a Linux-based financial planning app that uses double-entry bookkeeping. This is an excellent accounting tool that can also be used at home or in business. It can help you keep track of your expenses and save money, as well as bank and investment accounts.
Many banks offer mobile apps that allow you to enter data about your accounts, loans, and investments. These apps allow you to keep track of your income, expenses, and provide information about new products.
Top Wealth Management App
These financial planning apps are available free of charge on many portfolio management websites. You can create an account to enter your investment details and then save the account. These tools update the respective value of shares, mutual funds, or fixed-income securities. They also provide an analysis of your investment portfolio and make recommendations about asset allocation, net worth, and how your portfolio compares to the market.
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1. Morning Star
You can also get a free version. To subscribe to the basic version of Morningstar (14-day trial), go to MorningStar and click on the Register button.
Fees charged by mutual funds for managing your funds are known as expense rates. This can negatively impact your retirement savings. You can also use the fee analyzer tool on many websites to determine the hidden fees and the impact they have on your retirement savings. The idea behind the fee analyzer tool is simple: “Don’t let high-priced fees ruin your savings.”
2. Personal Capital
A good idea is to have an investment check-up. This financial planning app will help you assess your current position relative to the goals you are aiming for. You can examine your investment and put it under a microscope. It will help you to determine your current allocation as well as the probable one.
It also includes Networth calculators that are free and help you calculate your net worth. This is the sum of what you have less what you owe. You can link all of your retirement, investment, as well as bank accounts to create a comprehensive picture of your total net worth. Personal Capital can be used for the same.
Financial Planning News and Research App
Bloomberg, Wall Street Journal, and the FT all provide information on the different investment options in the market. Their website contains information about stocks listed on Dow Jones and FTSE100 as well as futures, currencies, and commodities. There are many details available about the companies that you plan to invest in. Profit & loss statements and other financial information are all available to interested investors.
1. Bloomberg
Bloomberg.com offers a wealth of financial information about stocks, currencies, and commodities on its Market page. This includes rates + bonds, benchmark, economic calendar, and rate-plus-bonds information. Financial data can be found for various companies and indices. This is extremely useful when creating financial models.
News Agencies provide financial and economic news, as well as analysis. Investor bankers regard news agencies such as Bloomberg and Wall Street Journal as their Holy Grail. They rely on the information they provide. The websites provide financial data that professionals from investment banks can use to do financial modeling. Access to more advanced data is only available for those who subscribe to Bloomberg.
Also read: Top 9 Money Saving Apps for Your Android Phones
2. Reuters
Reuters is a part of the Reuters Group, PLC that provides financial data. Reuters is an international news agency providing financial equity reports and data. It is a collaboration between thousands of journalists whose data is uploaded onto the Reuters website. You can find news on a variety of topics, including Finance, Economics, and Politics as well as Business, Technology, and so forth. Along with valuable information about stocks, Indices, and derivatives, the world markets, as well as financial statements that are crucial to various companies.
The market page at Reuters.com contains a wealth of information about U.S Markets and European Markets. It also includes data on Stocks, Options Futures, and Bonds. You can also find Earnings per Share (EPS) or Dividends from internationally renowned companies.
Dividend Tracker App
Dividend Tracker is a tool that collects all dividend data for a stock. These trackers can be created using mobile apps that allow you to create multiple entries for different stocks. You can view the company’s details and view detailed information, including financial ratios like Earnings Per Share (EPS), P/E Ratio, and PBV Ratio. This includes the current stock price, 52-week range, the dividend declared, yield, and payout ratios.
Dividend trackers display the entire dividend history over a period of three months, six months, and one year up to five years. A chart can be used to help the user understand and analyze the data. Not only are professionals able to benefit from the vast amount of detail available, but so is anyone who wants to keep track of their dividend history.
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