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Tools For Financial Planning

 

 

There are so many tools for financial planning available these days in the market. Some of them are really very helpful in planning your finances and designing your personal budget. Well, regardless of which financial planning tools you use in planning your finances, the accuracy of your financial plan is only as good as the accuracy of the updated financial data because outdated data can’t be used to reflect actual income or expenses will be of no use to your financial plan. These days, computer based tools of financial planning have become commonly used as they replace the need to rewrite and recalculate the budget every time there is a change. Presented below is the review of some of the popular tools for financial planning.

 

Pencil and paper: These can be considered as the simplest of the financial planning tools. A simple financial plan can be put together on a piece of a paper with the help of a pencil.

 

Calculator: A calculator also falls into the category of commonly used tools of financial planning. The financial plans which are made with the help of pencil, paper and calculator are generally classified into in three-ring binders or a file cabinet.

 

Spreadsheet software: Spreadsheet software provides replacement of above stated simpler financial planning tools.  The most commonly used spreadsheet software such as Microsoft Excel, iWork Numbers or OpenOffice.org Calc, helps in arranging finances according to the requirement and performs calculations easily which otherwise is really difficult to do with complex mathematical formulas.

 

Money-Management software: There are so many tools for financial planning guide available in the form of software designing specially for financial management. Some of the most popular tools for financial planning are known as Quicken, Crown Money Map Financial Software, Moneydance and GnuCash are designed to keep an eye on the individual account information, such as checking, savings or money-market accounts.

 

Money-management websites: Several websites act as online tools for financial planning guide. The names if few sites acting as tools of financial planning are known as Cashflow INSITE and Thrive, Mintt.com, Budget-Master. These are the great sites which will help you devised an efficient financial plan for you..

 

 

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