Personal Capital has the #1 free financial tools on the web today. The company is based right here in my hometown of San Francisco and was founded in 2011 by Bill Harris, former CEO of Intuit and Paypal. I’ve used their free tools to stay on top of my finances since 2012. As a result, I’ve been able to optimize my net worth, reduce investment fees, and plan for a financially secure retirement.
For all of you who want to optimize your finances, I recommend signing up with Personal Capital and linking all your financial accounts. The more you’re able to track your money in one place, the better you’ll be able to grow your money.
Here’s how you can use Personal Capital to your advantage.
PERSONAL CAPITAL SIDEBAR UPDATES
- The account bar on the left is now wider for easier viewing. Plus you’ll notice the margins have also been reduced on the dashboard so that everything now fits within smaller browser windows. So whatever size device you’re using to login to your Personal Capital dashboard, you’ll have an easy time viewing all of your account details.
- In addition, if your browser window is too small, the sidebar will auto hide. Simply hover over it to expand. You can also use the ‘pin’ icon to make it stick in your current session.
- Each section now has a 90-day graph behind the total so you can quickly see the movement for your account balances over time.
- There are now + icons at the top and bottom of the sidebar to quickly add an account and see your full financial picture.
NEW INDIVIDUAL DASHBOARD WIDGETS
The dashboard now features new individual widgets that make it easier to access Personal Capital’s tools right from the dashboard itself. For example, now you can click on the section header and directly to the corresponding tool. Here’s a list of the available widgets:
- NET WORTH: This is your financial report card summed up in a single number—what you have (assets) minus what you owe (liabilities). They also changed the orientation of the net worth chart so it now is featured prominently on the left side rail as well as in the top widget on the dashboard. The font size has been increased and they’ve also added the asset and liabilities bar underneath.
- CASH FLOW: This compares your earnings with your spending and highlights what you’ve saved over the past month.
- BUDGETING: Your spending is categorized by type, giving you a high-level overview as well as individual transactions. Click the pencil to set your monthly budget target.
- PORTFOLIO BALANCE: This displays a summary of all your investment accounts and gives you a total balance.
- INVESTABLE CASH: This is a new feature that totals up your cash in your bank and investment accounts. View the money you have available to invest if you decide to do so.
- MARKET MOVERS: Track how your portfolio has fared relative to the market with the You Index, which aggregates your portfolio performance into a single number.
- MARKET & BLOG COMMENTARY: You’ll receive a weekly market recap and outlook on the week’s events along with blog highlights.
- RETIREMENT SAVINGS: This is a summary of your retirement saving to date, pulled directly from the Retirement Planner tool.
Note: In the previous dashboard, the allocation tool was on the bottom of the screen, but Personal Capital realized it didn’t have day-to-day utility. So it has been removed from the dashboard, but you can still access this feature via “Investing” on the top navigation bar and “Allocation.”
CUSTOMIZABLE DATE RANGES
- Based on customer feedback, Personal Capital has also updated the date ranges from rolling to individual ranges that you can customize based on your needs. You’ll see the new date ranges everywhere from Budgeting to the Net Worth tool; see the example highlighted in red below.
- You can also hover over the graph in the Net Worth tool to see your total net worth on a given day. You’ll also now see your 1-day change in the upper right corner under the total making it easier to track your progress.
Leverage Free Technology For Greater Wealth!
When you know where your money is going and where it’s being invested, you gain a tremendous amount of confidence in your financial well-being. The best feature I find on Personal Capital is their Retirement planner. It’s best to analyze your finances now with the use of technology because there is no rewind button in life.
You may not be wealthy now, but just knowing you’ve got your finances in order and have a financial plan tremendously increases your chances of financial success. Once you are financially secure, you free to do whatever you truly want.
Get a handle on your finances by signing up with Personal Capital for free and aggregating all your accounts. The financial management tools are free, takes less than a minute to sign up, and allows you to even find a personal financial advisor if interested.