When you have trouble keeping track of all of your personal finances like credit cards and bank accounts etc, what should you do? You always wish you could get someone else to manage it for you. To entrust someone with all the physical records in the traditional way could be suicidal, as there is a chance of misappropriation and embezzlement by that person. Even otherwise, in this age, nobody would want to carry out such operations for you, except at exorbitant cost. So then what would you do? You go in for an online service. Do you want to keep all of your personal account balances at your finger tips? This is easy, provided you have that sentiment to guide you.
A good control over your money helps you to have financial freedom. Whether you are young at age or close to retirement, it makes no difference to your need for self accounting. So grab control of your personal finances at the earliest.
Steps to take while managing personal finances
- Enter the websites of all of your financial institutions, and enroll for the internet banking facility that they provide. If you find it difficult to enroll for an internet banking facility, collect information from your bank regarding this. Remember to keep your user names and passwords safe and accessible, for you may require them later.
- Choose a financial management website you can join for free, such as Mint.com, Wesabe.com, and the like. There are paid alternatives out there, but then you really wouldn’t need all the services that they offer, and many of those you can get for free.
- Enter your internet banking information on your new financial management website. You should only enter your login and password. Do not provide your account numbers.
- Check your financial management site daily for your entire account balances and transactions. Your website would update such information periodically. Some of the sites remind you to pay your credit cards on time, while some display your spending habits as a graph, and warn you if your credit card balances are falling or kept too low.
This is one of the best ways that you can be managing personal finances online and stay updated on them. If you need more services than the free websites can offer, then go ahead and join a paid website that offers the services you require.