In Lesson 3-1 of the online course: Introduction to Applied Investing, it was mentioned that there is a variety of personal finance software that can assist individuals with their investment planning. Personal financial software can help individuals get a clearer picture of where their money is going, where it is, and where it has been – often with useful graphs and reports.
You can manage your investment portfolios, 401(k) plans and individual retirement accounts (IRAs) – as well as pay bills and bank online. Some of the software also allows you to trade stocks, bonds, mutual funds and ETFs. If you fully utilize the software, it can also be uploaded into tax preparation software.
Most of the planning software can be used to obtain relevant investment and tax-related articles, access real-time stock reports, and help individuals make good financial choices and wisely invest their money. And over the past several years the quality of the information provided within these programs has improved substantially.
TechMedia Network recently completed their 2013 Best Personal Finance Software Comparisons and Reviews. They evaluated the best-selling software (costing between $20 and $50) and ranked them on criteria such as: ease of use, banking & bills, reporting, archiving & security, tax options, investing, and support. It is a wise investment to organize your finances and establish an investment plan – and this software can help. Here are the results of their analysis: