Financial Wellness Wednesday
I was asked to write a “Wellness Wednesday” posting for work this week, so you get to see it here before any of my coworkers do!
When it comes to wellness, we often times think of it as our physical being and forget that there are many facets to being well. In today’s post, we’re going to look at some different resources that provide helpful money management. Every website/app listed here is free (some have added costs for additional services), so let’s start saving!
Overall account management
If you’re like me and you have a lot of different financial accounts to keep track of (banks, retirement accounts, credits cards, etc.), Personal Capital is one of the best tools out there. The service lets you see your entire portfolio at a glance (yes—no matter how much money you do or don’t have, it’s still a “portfolio”), without logging into each account one by one. You even have the opportunity to invest assets with the company and have your very own financial advisor…for a fee.
If you’re good at managing your own spending, and don’t mind manually tracking your expenses, Excel is a great tool for you. I’ve used it for several years now, and it hasn’t let me down yet. It’s not pretty, and it’s really basic, but it’s a fun and powerful tool, and if you use Google Sheets, you have the ability to take the information with you in case you like to budget on the go.
This budgeting resource has been around for quite a while now, and it one of the easier tools to use for budgeting. The app/website automatically pulls information from your accounts and automatically categorizes your expenses and credits to your account. You can set alerts that warn you when you’re about to go over budget too!
Cash back/savings opportunities
Online shoppers, unite! Ebates is a personal favorite, because I literally have to do next to nothing to get free money. That’s right—FREE MONEY. If you’re already an online shopper (or even if you book through sites like Expedia), you simply swing by the Ebates website before you go buy something (or you can add it to your cart first, and then open up Ebates in a new window to finish out the transaction). Best of all, the site often times has coupon codes specific to that website. Why not get a little kickback to better support that shopping/travel habit?
https://www.ebates.com/r/OPHELI129?eeid=28187 (Full disclosure—I get referral credits if you sign up and buy something!)
If you’re more excited at the thought of spending, rather than saving, let Acorn help you stash away some extra cash by rounding up your purchases. For example, if you buy something that costs $4.50 on your credit card, the transaction will be rounded up to $5, and Acorns will put the extra change into an investment portfolio on your behalf. It’s free if you’re a student or under the age of 24, otherwise, you pay $1 on account balances below $5,000.
Venmo is one of my most used apps—it’s used as my digital wallet. Last night, I was grabbing food with a friend who couldn’t find their wallet. I was happy to spot him for his meal, and fortunately, he had Venmo and his cell phone, so he paid me on the spot. You can also use the app to pay within other apps (anywhere Paypal is accepted).
It’s easy to split the check when there are only two people, but what if you have to split the bill 7 ways? Splitwise is a great tool for splitting expenses among multiple people—it can be done in lots of different ways: equally, by specific dollar amounts, by percentages, by shares, and more! It’s a helpful tool if you’re traveling internationally with a friend and sharing costs, but need a way to track it. Or if you’re splitting 4-5 utility bills with your 3 roommates. You can even use Venmo to settle up your debts through Splitwise.