Free Online Money Tools

Aside from the free personal finance managers mentioned here, there are also some other online finance tools that I use that can be of value to you.

Credit Karma

tools_credkar

A FICO score is what most people refer to as their credit. It’s a number that determines how much interest you will be paying on that loan from the bank or that loan from the car salesman or the interest rate of your credit card and your credit limit. In other words, this number is critical to your credit rating.

Each of the credit reporting agencies  (Equifax, Experian and TransUnion) has a different score, but you have to pay each time you choose to see it. With Credit Karma, you get something close to this score for free. The score you are provided is not your true score but an approximation.

tools_creditrep

One feature that it has is a Credit Report Card which grades you based on criteria such as Total Debt, Debt to Income Ratio, Debt Length etc. There is also another feature which allows you to see what effect actions such as opening another credit card or increasing your limit on a card will have on your score. It’s a great tool to check out if you are interested in taking care of your credit.

Networth IQ

tools_netIQ

The most important factor in determining wealth isn’t your income, but how much of that you keep and accumulate. So it is pretty important that in earning more money, you ensure that your overall networth is growing.

This is an online tool that helps keep track of your networth (as the name suggests). You manually put in numbers for amounts for savings, debt, assets, stocks etc and then this tool keeps track of how your wealth is growing and changing from month to month. Here’s my current badge below.

tools_netbadge

Tip’d

tools_tipd

Think of tip’d as a digg (link) for finance. For those who haven’t used digg, it’s a site that aggregates links and they are ranked by popularity. In the same way at tip’d, articles from various sources are linked to this site by either the authors or others who have read them and the links are ranked by popularity (the number of tips received). This is useful in that it links you to various finance categories (Business, Currencies, Funds and ETFs, Personal Finance etc) and you can catch up with the latest news within these categories. You can also discover other bloggers and information sources that you can keep track of with an online reader.

Let me know of other tools out there as I am sure there are many that I haven’t tried myself.

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One response to this post.

  1. I’ve been thinking about trying out CreditKarma. Do you trust it? I’m always nervous about anything that requires my SSN. I think they only use it the first time, but still.

    I really like NetworthIQ to get a bigger picture of my finances month to month, since sites like Mint adjust to your accounts every day, and this gets more of the average of how you’re doing.

    I’ve signed up for tip’d, but that’s about as far as I got with it….

    Reply

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