03 Oct

Studies have shown that those who keep a closer track on their finances are in a much better position to establish and grow their wealth. Technology has provided a means for monitoring your personal finances online, with most of the burden of the number work being shouldered by the software.


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There is a vast array of money management and personal finance apps out there to choose from, available from dedicated online services as well as from the major banks. Some of the more basic versions are available for nothing, while others may charge a small annual fee.


Personal finance apps do vary in their complexity, but at their most basic level they allow you to plug in some numbers and will provide you with a snapshot of your finances. At the higher end, they can draw transaction information from your bank accounts, building society accounts and credit cards, predict upcoming bills and even forecast your finances for the coming months. An online personal finance dashboard can help with the budgeting, banking, planning, payments and provide you with reports, enabling you to gain a useful insight into the state of your personal finance and what you can do to improve your financial situation.

Financial Advice

One thing that dedicated personal finance apps can’t do, however, is give financial advice. They can therefore never be an adequate substitute for an independent financial adviser (IFA), but there is now a type of software available that can bridge that gap, giving you access to advice from your IFA on top of all the money management features a personal finance app will normally provide you with. This IFA software, built by developers such as, is available through independent financial advisers. It provides a personal finance portal where you and your adviser can view your financial information, and a secure messaging service allowing you to discuss your finances online or make arrangements for meetings.

Using a portal like this keeps you and your independent financial advisor regularly in touch with your finances, as well as with each other. It allows you to be more flexible in the ways that you interact. Not only does it provide an extra dimension to your online money management, it can save you time and expense when managing the investment side of your finances.

Larry Wilson