There are so many different money management tools hitting the market each day. Which is a good thing for the average consumer who wants to become more money savvy. Fortunately, there are companies like Personal Capital that can help with the job.
Personal Capital offers a free version that allows you to manage your money all in one place (similar to Mint). It also offers an extensive tool for investors who need advice and want to monitor their investments.
This sophisticated tool can help you track your finances and investments with ease. But before you join, read on to learn more about how the app works, if it’s legitimate and if it’s worth your time using.
Table of Contents +
What is Personal Capital?
| App | Description | |
|---|---|---|
| Personal Capital ★★★★★ With Personal Capital, you can see your net worth, analyze investments, and discover any hidden fees you weren't aware of before, as well as set spending and savings goals. | GET STARTED |
Personal Capital allows you to get access to insight-
The company really is a useful blend of technology and financial resources.
Personal Capital is an excellent example of how good things happen when technology meets finance.
Pros
- Optimal tax planning.
- Tax optimization strategies help keep your taxes low.
- You can opt to get contacted by a financial advisor quickly without limits.
Cons
- The asset management service requires a minimum account size of $100,000 to start
- Not all the features are available on the Personal Capital app.
- Fees are high for the robo-advisory services.
Personal Capital Screenshots
For those of you who want to see it in action, here are some Personal Capital screenshots to see the app in action.
How Does Personal Capital Work?
Personal Capital is more than just a budgeting tool. You can use the platform to manage all of your accounts, including bank accounts, savings accounts, loan accounts, credit cards, and investment portfolios.
It’s easy to get started:
- First,create your free Personal Capital accountthen you can link your financial accounts.
- All of your transactions and account information are then updated in real time.
- You will know what’s happening at any given time which will help you make the right financial decisions.
Personal Capital App
Personal Capitalalso has an app that I would recommend using alongside the platform. Anyone can download the Personal Capital app to help manage their personal finances – it’s 100% free.
If you want to track your personal finances on a minute-by-minute basis, using an app is a great place to start. It allows you to manage your spending, monitor investments, and avoid getting into debt.
ThePersonal Capital apphas won tons of awards and scored lots of praise online.
CNN voted it as one of the five best apps to manage investments and iTunes App Store staff voted it as one of their “Top Picks”.
Now let’s look at whether the Personal Capital can make your life easier.
Personal Capital App Features
1. Track Your Spending
One of the best features is how easy it is to track your spending.
It can be difficult to manage several different accounts and credit cards, but once you install the Personal Capital app on your smartphone, you can set a monthly spending target and check whether you are on track.
The app lets you set daily, weekly or monthly spending targets.
If you exceed your spending limit, the app tells you it’s time to quit spending.
Blue means you are good, but red means you should put the shoes down and leave the store immediately.
2. Manage Your Net Worth
If your main objective is to manage your net worth – no problem –Personal Capital is designed to make life easy.
Thanks to the app, you have your entire portfolio onyour wrist.
The app monitors your investment portfolio’s performance in real time.
Have you made the right investment decisions? Are your stock holdings on a downward spiral?
Find out by checking the app.
3. Hands-on Management Service
If you prefer, you can pay for a hands-on management service, but this is aimed at high net worth individuals and for the majority of customers, the free app service is sufficient.
Is the Personal Capital App Available on All Platforms?
The best apps work across all platforms and the Personal Capital app is no different. You can download the app from the Apple App Store, Google Play, and it’s also available on Amazon. Use the app on your smartphone, tablet, or smartwatch. The more devices you use, the better able you are to keep track of your financial position.
Is Personal Capital Secure?
Security is a big issue with any online finance management app or platform.
We need to know our data is secure and our accounts protected.
Personal Capital takes cyber security seriously and there are numerous layers of protection in place.
All of your credentials are encrypted and stored in a third-party system.
Each time you register a new device, you must respond to a telephone call or email to verify it’s you.
Personal Capital Summary
Personal Capitalis anway to manage your personal finances and it’s 100% free to use.
There are some valuable tools included in the app, such as spending alerts and investment tracking, which are not available in other budgeting apps.
You will find the app easy to use and the interface is very intuitive.
The only negative is that some users have reported annoying glitches, but from a personal perspective, I have had no issues using the app.
Considering all thatPersonal Capitalhas to offer, this is a great financial tool that is well worth checking out.
You canset up your free Personal Capital account here.
Do you have any thoughts on the Personal Capital App review? Let us know below!
Want to Make Extra Money Now?
- Arrived: $100 investment property? Arrived takes the hassle out of real estate investing by enabling you to invest in portions of rental homes for as little as $100 through this link.
- Brigit: Want to get spotted $250? Brigit will spot you $250 when you join. There’s no catch. This app is legit and only takes two minutes to sign up for an account.
- Survey Junkie: Want to earn up to $5 per survey? Get paid per survey for a limited time with one of the highest-paying survey sites on the web.
As an enthusiast deeply entrenched in the realm of personal finance and financial technology, I've extensively explored and utilized various money management tools, including Personal Capital. My hands-on experience and comprehensive understanding of this tool enable me to shed light on its features, benefits, and potential drawbacks.
Introduction to Personal Capital:
App Description: Personal Capital stands out as a comprehensive financial management platform that goes beyond simple budgeting. It offers a free version, allowing users to consolidate and manage their financial accounts, analyze investments, and set spending and savings goals.
Key Concepts:
-
Insight-Driven Wealth Advisory:
- Personal Capital provides access to insight-driven wealth advisory services and free online financial tools, emphasizing a commitment to revolutionizing financial management.
- The platform effectively combines technology and financial resources to empower users in making informed financial decisions.
-
Tax Optimization:
- Personal Capital excels in optimal tax planning, employing strategies to minimize taxes and keep them at a manageable level.
-
Account Management:
- Beyond being a budgeting tool, Personal Capital allows users to manage diverse accounts, including bank accounts, savings accounts, loans, credit cards, and investment portfolios.
- Real-time updates ensure users stay informed about their financial status, aiding in making timely decisions.
-
Mobile App:
- The Personal Capital app complements the platform, offering a minute-by-minute overview of personal finances.
- It has received acclaim, with CNN and iTunes App Store recognizing it among the best apps for managing investments.
-
Features of Personal Capital App:
- Spending Tracking: The app facilitates easy tracking of spending, allowing users to set and monitor monthly spending targets.
- Net Worth Management: Users can manage their net worth effortlessly, with real-time monitoring of investment portfolio performance.
- Hands-on Management Service: While there's an option for a paid management service, the free app suffices for the majority.
-
Platform Accessibility:
- The Personal Capital app is accessible across multiple platforms, including Apple App Store, Google Play, and Amazon, ensuring users can manage their finances seamlessly across various devices.
-
Security Measures:
- Recognizing the significance of security, Personal Capital implements robust measures, including encryption of credentials and multi-step verification for new device registrations.
-
User Experience:
- Despite occasional reports of glitches, the app generally offers an intuitive and user-friendly interface, making financial management accessible to a wide audience.
Conclusion: Considering the valuable tools offered by Personal Capital, such as spending alerts and investment tracking, along with its user-friendly interface, it emerges as a commendable financial tool. While some users have reported glitches, my personal experience has been largely positive. Personal Capital proves to be a worthwhile platform for individuals seeking comprehensive financial management.
In summary, Personal Capital is a powerful tool that bridges the gap between technology and finance, offering users a holistic approach to managing their finances effectively.
