Top 10 Most Popular Online Financial Planning Tools for the Students

Popular Online Financial Planning Tools

Students nowadays are in pursuit of a college degree to get their dream job. Ambitions are high, goals are set, and with determination in their eyes, they start with their newfound college life where they will start living a more independent life. For the first time, they start making their own financial decisions and it is very encouraging. However, a college education is not at all cheap, and proper financial planning must be done to ensure a standard of living and catering to the costs of future education.

Education costs are rising day by day and students are simply unable to afford them. Students need to learn to make changes and adjustments in their spending habits and also need to do their financial planning to maintain a sustainable life while pursuing education. If it is not done right, then there are sure chances of students running out of money and then going into debt for cutting out the future costs.

To properly monitor their spending habits, students need to set up their priority limits, as to where they should spend the money and where to cut the need of the amenity. This financial planning will help them track their expenses, which in turn will help them stick to a proper budget amidst preventing overspending.

Managing finances in college can be difficult because college is tough. Studies have shown that in the year 2016, 58% of students did not have any monthly savings and 43% did not monitor their spending habits. This lack of financial planning might not be in the best interest of the students as this may lead to loss of education or even unplanned and unwanted debts.

To help the students, these days there are a lot of tools available online regarding financial planning. These tools will help the students plan their budget and save more money for the future.

10 Best Online Financial Planning Tools

1. Budget worksheet by nerdwallet

A budget worksheet is a template that lets you input your earnings and expenditures. Upon filling the template you can easily verify your expenses and plan your budget. There’s a monthly spending template too that will help you with your college financial planning.

2. Buxfer

Buxfer is a tool that helps you manage and categories your bank accounts, all in one place. Using buxfer, you can plan your budget accordingly and get alerts if you exceed it. Buxfer’s financial forecasting will help you manage your financial goals easier than ever.

3. GoodBudget

At times, students need to share their budget with their family or people close to them. GoodBudget helps you prepare a budget and its cloud sync features help you share it with your family. 

4. Mint

Mint is a personalized tracking tool that helps you plan your budget and spendings. It provides you with smart suggestions for the money you spend. Here, you can also schedule a bill payment which will help you pay your bills on time.

5. MoneyStrands

MoneyStrands helps you get a clearer picture of your expenses. Sometimes it is hard to track where your money goes. MoneyStrands automatically tracks and categorizes spending on transactions. All you need to do is use simple tags like food, rent, water, etc.

6. Simple

Simple is a free built-in budgeting tool perfect for students. It will guide you with your financial planning right from your mobile. Simple is one of the best tracking programs for your finances.

7. Toshl finances

Toshl is a tool that lets you connect all your financial accounts. Here, you can connect your credit, debit card, or your net banking account which will automatically track your income and expenses. You can also do the same by manually putting in the data without connecting your bank account.

8. Wally

This tool has been rated #1 in 22 countries and is even recognized by Forbes magazine. It is a financial planning tool with a simple design. This tool will make your financial planning less complicated and will help you manage your finances with ease. Most Ideal app for college students struggling to track their expenses.

9. Prism

A prism is a tool that will help you pay your bills on time. Here, you can schedule your bill payment dates and receive alerts when it is time. With a prism, you will never miss your bill payment date again. With a prism, you can pay your bills directly to the billers. 

10. Venmo

Venmo is a tool that is owned by PayPal. It makes the money transferring process significantly easier which makes it convenient for student use. Venmo can be used if you’re unhappy with your current online payment tool.

Financial planning is a significant task in everyone’s life. A student, in particular, must manage his or her finances well to protect themselves from unplanned debts or going cashless. These tools mentioned above will help you manage your finances better than before and will also give you a head start on the route to your financial goals.

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