Got debt? Need a budget? There’s an app for that.

With the help of some online tools, you can sort out your cents without the help of a pricey financial guru.

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Rebecca Holland | 981-3138

Saturday, March 30, 2013

It’s easy to lose sight of your spending and debt when so many payments are automatically drafted and carrying cash is nearly obsolete.

With most banks moving away from paper statements, you could go for months without seeing what’s going into and coming out of your bank account each day. That makes it tough to stick to a budget.

With the help of some online tools, though, you can sort out your cents without the help of a pricey financial guru.

Here are some of the best free personal finance tools out there:

Credit Sesame

I downloaded this free app when I was about to buy my first car .

Enter some basic financial information and the program will calculate your credit score as well as your total debt and home value, if you want. I like the charts that show my debt-to-income ratio and how my payments have changed over time . For young adults this program provides an easy entry into personal finance, while seasoned money-crunchers will appreciate the facts and figures this app provides.

You can also visit the website for a detailed view of your accounts and more tips on how you can save.

Devices: PC, Apple and Android

Mint

This is a popular free online service that can open your eyes to how much you’re spending . When you create an account you can link your bank account, retirement account, loans, property, investments and credit cards and Mint will go to work.

Set up budgets for yourself, like a monthly allowance on groceries and entertainment, and Mint tells you how much you’re already spending on each category. If you have over- or under spent, the program tells you by how much and where you can start saving.

Take some time to really utilize all aspects of this service. Check your finance trends to see what’s going on with your money. Set goals for things like paying off loans, saving for college or saving for retirement. The site will calculate a time frame and your total savings for each goal.

Devices: PC, Apple and Android

Ready For Zero

If your goal is to pay off debt, this is a valuable service.

Link your financial accounts to the program and it will help you make a customized payment plan. The basic free tools on Ready For Zero allow you to experiment and see how much you can save by entering various monthly payments. Once you find an amount that fits your budget, the service can take over your payments to ensure they’re done on time.

Your progress will also be tracked, and you can sign up for notifications when there are changes to any of your financial accounts (like large deposits or bank charges).

Devices: PC, Apple

LearnVest

LearnVest is a budgeting program similar to Mint , where you can link and track accounts. The basic service is free, but if you need more assistance you can pay to unlock features of the site, such as one-on-one contact with a financial planner.

I think the best part of this service is the variety of articles available. There are some great tips that clarify a lot of the financial blunders we all encounter from time to time.

Devices: PC, Apple

Student Loan Hero

Whether you’re preparing for college or are about to bust into the post-graduate real world, Student Loan Hero is a great free service for understanding student loan payments.

The financial directory can answer most questions students and recent graduates have and familiarize them with terms associated with loans. You can also send an email with specific questions and get personalized advice from the site.

Like the services above, you can link your loan accounts and it tracks and charts your payments . There are some practical tips for saving on monthly payments as well.

Devices: PC, Apple (no mobile apps are available at this time)

Before signing up for these services and linking your financial accounts to them, I recommend carefully reading their privacy policies . Each of these services is known to be safe and accurate, but there are plenty of scams out there too.

What’s your favorite personal finance service? How do you keep tabs on your money? Join the conversation on the Shoptimist blog at blogs.roanoke.com/shoptimist.

Monday, August 12, 2013