Have you ever heard of Personal Capital? If not, today I am here to talk all about their product that I personally use in this Personal Capital review.
Personal Capital provides FREE personal finance software that is somewhat similar to Mint.com, but better. If you like using Mint, I recommend checking out Personal Capital.
Quick summary of what Personal Capital is – their free personal finance software allows anyone to better manage their finances by allowing users to aggregate their financial accounts. You can connect accounts such as your mortgage, bank, credit cards, investment portfolio, retirement, and more, and it is all FREE. You can track your cash flow, your spending, how much you’re saving, and how your investments are doing. With their free financial software, you can see all of your accounts easily in one place so that you can manage everything easily.
And I’ll say it again. It’s free and there’s no catch!
As you know, I’m all about making your finances as simple as possible so that you can focus on more important areas. Personal Capital allows you to manage all areas of your financial situation all in one place.
You can use Personal Capital via your computer, a tablet, cell phone, and even a smart watch, which makes it great because you can stay up to date on your finances no matter where you are.
Background information before we get into my Personal Capital review.
Personal Capital is growing in popularity, so I thought it was a great time to publish a Personal Capital review just in case any of you are interested in trying out their free personal finance software.
Personal Capital currently has over 700,000 registered users and over $120 BILLION is being tracked on their free personal finance software. Also, their investment advisory team is already managing over $1 billion in assets, and this number is quickly growing at 400% year-over-year.
Last little fun bit of information about Personal Capital is that Bill Harris is the cofounder and CEO of Personal Capital. He used to be the CEO of Intuit and CEO of Paypal.
Why is Personal Capital better than Mint?
As you probably noticed earlier, I made the statement that Personal Capital is better than Mint.
Personal Capital does the things what Mint doesn’t do, mainly that Personal Capital helps you with your investment situation. If you are wanting to get on track when it comes to retirement and saving more money, then Personal Capital is what you need to be using.
With Personal Capital’s free personal finance software:
- You can track your net worth and measure your progress. This will help you reach financial goals and see how you are doing. This allows you to track changes, make educated decisions, and monitor and reduce your debt.
- You can manage your cash flow, view your income, analyze your spending, view your bills, and more with their free personal finance software.
- You can track your investment portfolio all in one place so that you can easily track your performance, see your investment allocations, and easy analyze everything related to your investments.
- Do you know how much in fees you are paying for your various investments, such as with your 401k? There are often many fees that people pay for their portfolio management, but there are much cheaper ways to invest your money. With Personal Capital, you can easily see what fees you are paying and Personal Capital shows you how this may be impacting your retirement plan.
- You can receive a free investment checkup as well. You can see how your investments are performing, receive a free examination of your portfolio, and hear great advice so that you can improve your investment and retirement situation.
- Their Investment Checkup tool creates a financial plan just for you so that you can analyze your risk assessment and see how prepared you are for retirement.
Why is Personal Capital free?
Okay, so you may be wondering why Personal Capital offers the best personal finance software out there for free. There is a reason for why it’s free.
You don’t have to pay for Personal Capital if you do not want to. All of the services I mentioned above are completely free. However, they are hoping that if you enjoy their services so much, that you will eventually go a little further and let them one day manage your investments.
I just use their completely free version and you can just do the same and still be able to use their amazing free personal finance software. There’s no catch at all, it’s seriously free and there are no hidden fees.
Personal Capital Review – Their software is very safe!
The security of your financial information is very important, so, of course, I want to talk about this topic in my Personal Capital review.
Your information is very safe with Personal Capital. They use bank-level encryption so that all of your information and accounts are completely safe. They also perform regular security audits to make sure that their financial software is safe.
Also, with Personal Capital, you can’t actually move any of your money through their system and no one else can, so your information and money are safe in this way as well.
How do I use Personal Capital?
Signing up and using Personal Capital is very easy. After you create your account, you will be asked to link various financial accounts. Then, you can start using their free personal finance software right away. It’s really that easy!
I hope you enjoyed my Personal Capital review! Please let me know if you have any questions about their financial software.
What do you use to manage your finances? What do you think is the best personal finance software? Are you interested in using Personal Capital’s free personal finance software?
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