Top Five Money Management Tools to Help You Reach Your 2020 Goals

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Are you on track with managing your budget in 2020? Do you even have a budget yet? Have you resolved to get a better handle on your finances, and learn about money management? It’s time to start the year fresh. Find your zen of money management by connecting with the right tools to manage the ebbs and flows of your income and expenses with ease. 

Thankfully, these days, solid personal finance programs abound. If you’ve fallen out of love with (or are intimidated by) tools like Quicken, we can help.  Read on for our list of five money management tools worth checking out for 2020, below.

Top Five Money Management Tools for 2020

#1 – Personal Capital

Personal Capital is a suite of free money management tools allowing you to view your entire financial picture in real time. Sign up and link your bank, credit cards, and investment accounts. Personal Capital will produce a snapshot of your net worth, spending, income, expenses, and investments through an intuitive dashboard. Set financial goals and monitor your progress and pitfalls so you can adjust as needed to stay on track.

For an all-inclusive annual fee, you can also tap into Personal Capital’s optional investment and wealth management services. You can access Personal Capital on your laptop or download the app on compatible Apple and Android devices. That makes it easy to keep an eye on your spending and your nest egg all in one spot.

#2 – Tiller

If you like spreadsheets, chances are you’ll like Tiller. If you’re still trying to figure out how to make a budget in Excel, chances are you’ll love Tiller. Tiller is one of many Quicken replacement tools that offer pre-built sheets for tracking your personal finances, but also leave room for customization. Flexibility goes a long way when it comes to money management.

Sign up for free with your Gmail account (required), link all your financial accounts, and then choose your platform: Google Sheets or Microsoft Excel. While Tiller works with both, it’s optimized for Google Sheets.

Tiller uses Yodlee, a leading financial data aggregator, to securely import data from 20,000-plus financial institutions. Enable daily emails to keep you informed while your day-to-day transactions are “tilled” and updated automatically on Google Sheets or Excel. No need for data entry, multiple spreadsheets, or CSV files. With Tiller, you can run detailed reports, collaborate, and share spreadsheets with your spouse, accountant, or financial planner to make tax time easier.

Not sure if it’ll be your cup of tea? You have 30 days to try Tiller out for free. After the trial, pay a yearly subscription of $59 (just under $5 a month) to keep on tilling. Cancel at any time during or after the trial period. And if you’re not satisfied, you can get a full refund.

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#3 – Mint

Besides being completely free, there are so many things to love about Intuit’s money management tool, Mint. Not only can you build a budget, track spending, and watch your investments like a hawk, but you’ll also have access to management tools, unlimited credit score access, and account alerts when something’s off kilter. 

Link your bank accounts, credit cards, and investment accounts and let the Mint money management mojo kick in. You’ll have access to your entire financial portfolio in one spot and tools to help you explore other ways to round out your personal finance footprint.

Through partnerships with other well-respected companies, Mint provides added benefits such as comparing auto and life insurance quotes, exploring personal loans for debt consolidation, or securing student loans to help with education costs for you or your children. Want to start an IRA or need to rollover a 401(k)? Mint helps you link to options like Blooom and HonestDollar to get started. Mint also analyzes your portfolio and offers suggestions on ways to cut costs and save more money.

Sign up in minutes for free and have access to Mint on your laptop or download the app on compatible iOS or Android devices.

#4 – Qapital

Qapital is a full-service mobile banking app designed to help users save money and invest wisely through behavioral psychology. Simply put, Qapital pushes you to think harder about your money, where it goes, and why.

You’ll have the ability to create rule-based savings goals not just for the sake of saving, but for an end goal. Qapital tools help you focus on a savings goal, such as a vacation or a house addition, and then chooses rules to get you there, like automatic transfers. You can link external funding from other banks and set up direct deposit from your employer to your Qapital account, which comes with a Visa debit card that allows you to round up to the nearest dollar on everyday purchases to meet savings goals. You can even make saving a social effort with other Qapital users and make reaching your financial goals fun.

If you’re open to investing, but intimidated by the prospect of getting started, Qapital is a good option for newbies. It offers diversified portfolios that take the guesswork out of investing. You can choose your amount and timeline, then let Qapital do the rest. It’s really an all-in-one money management tool, that makes saving and investment so much easier.

Ready to get started? Download the app on iTunes or Google Play, create an account, and start using Qapital with a 30-day free trial. If it’s a great fit, keep the money management app for as little as $3 a month. 

#5 – Budget Spreadsheet

You don’t have to get fancy or use an app to reach your money management goals, either. If you like things simple, you can still use the power of a spreadsheet to keep your finances in check. Not sure how to make a budget in Excel? No problem! Just keep these tips in mind:

  • Try a Preset Template First. Excel has a variety of templates you can use to build your budget. This is one of the simplest ways to get started. Automatic calculations in the background allow you to enter your data with ease.
  • Customize a Preset Template. If you want to adjust a template to fit your needs, you can insert or delete columns and rows, but leave the automatic calculations alone. 
  • Make a Budget with a Blank Workbook. You can start from scratch and build a spreadsheet completely customized your way. 
  • Try Google Sheets. If you don’t have Excel, Google Sheets is a great option. It integrates with money management programs such as Tiller, as well as more than 100 apps

Final Thoughts on Money Management Tools

Getting control over your money is powerful. These tools can help you do just that. If you’re app-oriented, check out Personal Capital, Mint, and Qapital. For those who are more comfortable using a desktop or laptop, try Personal Capital, Tiller, Mint, or a budget spreadsheet. If you’re all about sharing, Qapital and Tiller fit the bill. Qapital allows for social sharing with other users to tackle savings goals, while Tiller allows you to collaborate with financial professionals or your spouse to keep your money management on track and organized.

The bottom line is to make a choice that feels comfortable to you, and fits your lifestyle. If you like what you use and find it simple to navigate, you’re more likely to stick with it and build consistency to reach your financial goals. When it comes to reaching those goals, good money management habits win.

This article is a guest post from our friends at Club Thrifty.

Club Thrifty is devoted to helping people dream big, spend less, and travel more. They offer a wealth of information, guides, and tips on budget travel, travel deals, and money management. We encourage readers of LifeGuideBlog interested in these topics to check out Club Thrifty – it’s definitely packed full of information to help you live a better life!

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