Monday, December 7, 2009

Why does personal finance search leads to investment options like MF/Stocks etc?

I did a search for personal finance in google, the results in 80 % cases takes me to investment planning, How to buy stocks/mutual fund, How to plan for children studies/house by buying stocks/fund and lot more in buying different MFs, plans, stocks etc.

What are you looking for in personal finance? First thing i look at is assessing my existing savings, spends , assets, and income i.e my current financial status. So in this case i am looking for some tool or some way thru which i can assess my existing finance situation. Secondly how can i set some financial target like buying a house/car etc and when and how i can achieve it and then supposedly all those stocks/Mutual funds/insurances options etc as part of future planning.

So how do i solve the problem of figuring my existing financial status, easy part is to consolidate all your bank accounts and get the overall finance you have, For assets if you are like me just count on hands :) one house and one plot max and document it. Income details etc can be figured again from bank salary account.

Difficult part is tracking your spends especially if you have lot of cash transactions. I tried lot of options and because there so many different ways like apps, websites etc it becomes more difficult. Its like shopping more options you have to choose more difficult and more tiring it becomes.

Thats where we come to trackspends, what we do is just send SMS whenever there is any spends/expenses done be it cash or not. And we get it consolidate in www.trackspends.com .

You can also try it and use it, and send us comments/feedback on it, we want to make personal finance tracking simple and doable.


No comments:

Post a Comment