I don’t know about you but I think I’m not the only person who is quite disorganized in terms of personal finances. I guess it’s because, let’s face it, it gives an incredible laziness to look where you spend your money. I still remember how a boss of mine explained to me one day that how a hobby was dedicated to tap his bank statements and see if they matched the bills.
Tap bank statements
He was an auditor. For those whose passion is not to dedicate ourselves to tap bank statements but, nevertheless, we are fully aware of the importance of keeping track of the money we spend, we are fortunate that today there are several free financial tools.
One that is remarkable for me is the one offered in Good Finance and that gives me a solution to my financial disorder. And I consider it remarkable because it offers several features to control our spending:
1. It is a fully automated tool: It is connected with more than 100 Spanish banks, which allows me not to have to spend my expenses all day. Although it is true that it still does not let me put cash.
2. Easy and quick to use: Moreover, it closely resembles my bank and runs away from those “novel” interfaces that I don’t understand.
3. It allows me to have all my accounts in one place.
4. Has personalized saving tricks and alerts.
5. It is secure (I do not give anyone access to my accounts).
6. Has a mobile App (for Android and iPhone).
7. It is free.
But for those who have never used a personal finance tool, I suppose type questions will arise, what exactly is this tool? How does it work?
Here I explain some of its best features in greater detail.
What is Good Finance?
Good Finance is an online tool that allows you to control your personal finances. With more than 12,000 users, Good Finance, unlike others, not only allows you
Easily visualize your expenses and transactions, but also focuses on helping you save and control your expenses.
Once registered, it is very easy to add your accounts and credit cards. All information of your current and past transactions is automatically downloaded and in just a few seconds you can view your expenses already categorized.
Every time you connect to the tool, your data is updated, presenting all your movements visually, which facilitates their control.
The tool has a few very interesting functionalities but I comment below the two that I liked the most.
Custom Savings Tricks
A feature that differentiates Good Finance from other tools is that it is able to give you personalized recommendations to improve your personal finances and save money.
That is, if you see that you spend money for example in technology, it alerts you if there is any kind of discount or trick to save you money in that type of expenses or store. This is my favorite function.
The really cool thing about this functionality is that it calculates how much you could save YOU per month depending on your expenses. In addition to providing you with the link to the discount page, it gives you information on how long it will take to complete that trick and how many people have done it. You can also search for these tricks by categories if you are looking for something specific.
Alerts that tell you about problems
Another functionality that is of great use is that of alerts. The Good Finance tool has an alerts section where you can configure them to your liking. Here you will find numerous sections, each of them accompanied by an icon that says “on”.
What are these alerts for? Well, these alerts prevent me from being ripped off or not to fall into financial problems and keep a better control of our finances. These are some of the most important points informed by alerts:
– Fees charged.
– Duplicate transactions.
– Higher expenses.
– Minimum balances in an account.
And here again Good Finance stands out for customization. I can define which alerts interest me as well as decide what amount I consider a major expense and from which I should receive a “low minimum account” alert.
These are the different fields you will see:
– Bank fees
– Payment of receipts
– Credit card payment
– Duplicate transactions
– Minimum account balance of $ x
– Expenses greater than x $
The truth is that the tool is simple and fast. It has helped me a lot to control my expenses and start saving. I totally recommend it. =)
I hope it has helped you to get to know this tool a little better and that it will help you to improve your savings.