Online Money Management Tools

DoughMain.com integrates financial innovation with the family sphere. It's a website designed to help families stay organized and educate children about money. Their innovative approach lets families manage all their finances holistically online. Parents track their expenses, coordinate their bank accounts, and teach children and teens about financial responsibility through educational games.^[1]

 This approach, which helps an entire family prepare for their financial future, could be the next step in financial innovation. Industry leaders may want to keep an eye on DoughMain.com's success and follow their example in financial education. Online banks may start to use this model to help their customers educate themselves and their families about financial responsibility. If DoughMain.com's approach works, tomorrow's youth will have key Read More »

Since 2006, Covestor has grown into one of the leading online stock trading sites. It owes its success to the unique options it offers its users, and the potential for profit that it offers portfolio managers.^[1] 

For Investors

Covestor makes the stock trading process simple, even if users have never traded a stock in their lives. Essentially, anyone with the initial $10,000 minimum portfolio can start investing like a pro. Not only do Covestor users gain valuable insight into how money managers invest, they can set up their account to automatically mirror the actions of investors that match their investment goals. These funds are invested in the same manner, even though it's always in the client's name. Covestor users can earn the kind of returns comparable to Read More »

Truaxis, formerly BillShrink, can help consumers overpaying on their current phone, cable, or credit card plans, find a new one. This online money management tool compares its users' current plans to other available plans in their area. It also shows them their potential savings if they were to switch. Then, it monitors changes in rates, and informs the user if any of the alternate plans become less expensive than the one they’re using.^[1]

The process is fairly simple. First, users enter all of the information about their current service plan. As soon as Truaxis’s program has all the user’s necessary data, it can compare their current plan with others available from alternate providers. In addition, Truaxis can Read More »

Instead of borrowing money, running up their credit card bill or skipping the payment all together, consumers can check out their online money management options at BillFloat.com. Since 2009, BillFloat has been taking unique approach to helping their customers cover bills, avoid late fees, and protect their credit scores.^[1] 

Starting an account with BillFloat is simple. Here's how it works:

1. Open an account: Users only need a bank account to apply

2. Register your bill: Enter payment information, the type of bill, the amount, and the payment date. Next, users enter their bank's routing number and account details, then choose from their database of billers.

3. BillFloat pays the bill: The fee for service depends on how high the bill is. Read More »

In May of 2011, Google released Google Advisor, an online financial tool created to help consumers compare rates and apply for financial products, including: mortgages, credit cards, and bank accounts. The move puts Google in the ranks of Mint.com, LendingTree.com, and BankRate.com, as a key competitor in the online money management space. Like most of Google's offerings, Advisor is clean, simple, and user-friendly. But how does the tool stack up against the web's leading money management provider, Mint.com? We'll take a look at Google Advisor and gauge its consumer value.

Advisor Advantages

Google Advisor allows you to search relevant financial products from different providers and compare them side-by-side. Advisor breaks down most aspects of each account, mortgage, or credit card, in simple monetary terms. Read More »

DebtGoal, a San Francisco company^[1] advertising itself as "Weight Watchers for Debt,"^[2] helps borrowers get out of debt faster. They do this by giving users a SmartPay Plan^TM that allocates their monthly interest payments across personal debt accounts in the most efficient manner possible. According to the company's press release, "the average DebtGoal user can save $35,000 in interest and get debt-free 16 years earlier."^[2]

After a one-week free trial, the service costs $14.95 per month. Read on to determine whether it's worth the price tag:  

Creating Your SmartPay Plan^TM

When you first setup your account, DebtGoal collects information from all of your debt accounts—credit cards, student loans, auto loans, mortgages, and other lines of credit. You can enter your information manually or have the site aggregate this Read More »