An Overview of Personal Capital’s Free Financial Tools

It’s no secret that if you want to take control of your finances and work towards specific goals, you need to know your overall financial picture and how much you are spending vs. saving each month. It can be overwhelming and difficult to manage if you are just getting started. Finding informative and automated tools to manage your personal finances is key to staying on track.

Personal Capital is one of my favorite personal finance tools for tracking net worth, income, expenses and investments. They also have a nifty retirement planner that allows you to tweak a number of factors and simulate your projected retirement portfolio. The best part? Their tools are 100% free to use and easy to manage. They do offer professional wealth management services for a fee for investors who are interested.

To get started, sign up for a free Personal Capital account and start linking savings, checking, retirement, investment and credit card accounts. They will import your data and start building your personalized financial summary. A unique feature offered by Personal Capital is the ability to manually add “other assets” that cannot be automatically linked or accounted for, such as house value, manual investments and other assets/liabilities.

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July 2017 Spending Summary

July numbers are in! Lots of camping and enjoyment of the summer weather over the past month. Summer offers so many budget-friendly opportunities to get outside and have fun. Hiking, hanging out at the beach, camping, biking, kayaking… The list goes on.

Boston Harbor Islands

All of these factors helped our budget this month and we came in under target. Unnecessary discretionary funding remained pretty low throughout the month, which helped a lot.  Summary chart courtesy of Personal Capital’s Free Budget Tracking Tool.

July 2017 Expenses

July 2017 Spending Total: $3,900

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