Investment tools can be pretty intimidating for first-time users or for those who are more comfortable using tradition methods. However, you can’t deny the convenience they bring when it comes to staying on top of your investments and even managing your personal finances.
Check out these simple steps in setting up and using investment tools to help you be on your way to managing your personal finances like a pro:
- Select the Investment Tool for you
There are a number of different investment tools available in the market today. Some are free, some have mobile app versions, and some even cater to specific financial needs. We’ve listed down our most recommended tools in our previous article .
- Create your own Account
Most tools ask for your basic information while others dive in a little deeper by asking you questions like when you expect to retire and what your investment habits are. Be sure to answer each question honestly to help the tool assess and evaluate your financial status and help you achieve your retirement goals.
- Connect and Sync your Accounts
Syncing your financial accounts is also necessary for some investment tools. We understand that this may pose as a threat for some. But as long as your chosen investment tool is credible and has sound privacy policies, you can be sure to be in good hands. We suggest to go for tools that syncs with popular financial institutions in the country because this shows that your bank trusts the tool as well.
- Monitor Personal Finances
Make sure to constantly cross-check your investment tool dashboard with that of your current personal finances to ensure that both are in sync. This also helps you organize and keep track of your portfolio’s performance alongside your personal finances.
- Explore more Investment Opportunities
Most trusted investment tools also provide recommendations based on your usual money moves. Be sure to check in on these suggestions as they may be the next steps you need to keep your money growing, and to help diversify your portfolio.
Don’t be afraid to take calculated risks because your tool will help you stay on track — just be sure to keep a keen eye on the market at all times.
Most investment tools have Easter eggs all over so don’t hesitate to check them all out and see if they can help you get the most out of your tool and your investments.