Modern people know that things change quickly in today’s financial world.
In order to keep up, you may soon find yourself overhauling the tools you use to manage finances just to stay in step with the times.
Or, maybe you’re already looking to level up your financial tools because you know they can improve your chances of hitting your most important financial goals.
Whatever your motivation for shopping for financial tools, you’ve come to the right place.
Stick with us as we discuss some of the most important reasons modern people like yourself need modern financial tools.
And as a bonus, we’ll recommend the best software on the market for budgeting, managing alternative investments, and beyond.
Why You Should Choose the Best Financial Tools for Your Life
You don’t have to be a vigorous investor to need one or more well-built, up-to-date financial tools.
In fact, there are plenty of reasons — some lesser-considered — as to why everyone needs modern money software in their life.
To Reach Your Goals
That said, let’s start with one of the more clear-cut reasons financial tools are key for modern people: They offer great assistance when it comes to reaching financial goals.
Financial tools are key for supervising and even bringing together the various processes that go into wealth management and building, such as investing, budgeting, saving, and so on.
Having organized processes for managing and building your wealth is key because many of our goals in life — from the long-term ones like retirement to the short-term ones like your next new computer purchase — are in one way or another fueled by finances.
To Understand Your Overall Net Worth
Simplified, net worth is the value of your assets after subtracting the value of your liabilities. Assets include things you own (like cash) or that bring you value in another way (like your home). Liabilities are basically debts (like the mortgage you own on your home).
Why is it important to understand your net worth?
Mostly because net worth is akin to something like your resting heart rate for your personal health — it’s a singular, monitorable number that can help you keep an eye on your overall financial health. You can compare it to others in a similar position in life as well as to itself to make sure it’s moving in the right direction (which is up!) over time.
And, there are even more reasons that using a financial tool to understand your net worth is key. For one, your net worth number gives you a way to understand your intangible investments — which you’ll probably be adding more of to your portfolio as the importance of diversification continues to rise. In addition, knowing your net worth and how it tends to change can also give you a more clear guideline so you make the best decisions when it comes to setting goals, making investments, and spending your money.
If you’re interested in learning everything else there is to know about net worth, read our guide to Tracking Net Worth (And Why It Matters).
To Take Advantage of a Modern Investment Strategy: Diversification
Diversification is the practice of adding various financial assets from different sectors to your investment portfolio.
And it’s such an important investment strategy today because there are more types of assets available than ever before of which to take advantage. By investing in as many of these asset types as possible, your portfolio will remain in great health no matter how the markets fluctuate. In addition, well-diversified portfolios generally see better returns and lower losses than those with lots of similar investments.
With the right blend of financial tools, modern folks can keep up with growing, highly diversified portfolios without interfering with their fast-paced lives.
To Help Ease Your Money-Related Anxiety
It’s probably no coincidence that the same year the COVID-19 pandemic struck, a large majority of people reported anxiety over their finances.
By giving you more insight into and control over your finances, financial tools can help everyday people manage and overcome feelings of anxiety when it comes to money.
The Best Financial Tools for Everyday People
As you can certainly tell, it’s important for everyone today to have the right tools to hit their financial goals, ease their anxieties, take advantage of cutting-edge investment strategies, and more.
So whatever your goals are or whatever it is you’re interested in, we put together this list of modern financial tools you can start using today.
The Best Financial Tool Overall: Kubera
Kubera is an all-in-one wealth tracker that gets our pick for best overall financial tool because it enables users to access and command even the most diverse portfolios.
Built on a variety of smart aggregators and a robust custom architecture, Kubera’s dashboard connects to all kinds of financial accounts and assets all over the world. From traditional banking accounts to global stocks, real estate, collectibles, domains, and both fiat and cryptocurrency — Kubera helps modern people monitor and manage practically anything. (Really. Check out all the banks, brokerages, apps, and other financial institutions to which Kubera connects.)
Then there are Kubera’s tickers (see them in action here), which you can add to your dashboard to track individual stocks and crypto coins so that you always know what’s going on in the market.
And to help you keep an eye on other important assets — such as homes and web domains — Kubera has integrated with tools like Zillow and EstiBot so you always have a real-time idea of the value of your investments and their impact on your net worth.
In addition to all the features that Kubera employs to give modern people like yourself better understanding and control when it comes to finances, we also built in a unique beneficiary management feature.
With our built-in safe deposit box and beneficiary designation, you can be sure your important financial documentation and other information are secure and ready to be safely passed on to your chosen beneficiary when you’re no longer able to manage your portfolio.
Kubera’s easy-to-use all-in-one platform comes with an easy, concise pricing plan: You can sign up for a simple subscription now or try us out for free first.
Whatever you choose, you don’t have to worry about annoying ads or sales reps — we don’t pressure our customers.
Get started with an affordable Kubera subscription or find out how you can use Kubera for free with the help of your financial planner.
The Best Financial Tool for Budgeting: YNAB
Modern life comes with a lot of expenses. If one of your areas of interest is tracking and better planning for those expenses, you’re probably on the hunt for a budgeting financial tool.
The aptly named You Need a Budget (YNAB) is a widely recognized personal budgeting platform with apps for web, mobile, smart speaker, and beyond.
YNAB helps its users focus on budgeting through tools that also reinforce their overall philosophy: Give every dollar a job, embrace actual expenses, roll with the punches, and age your money.
With a proper budgeting tool like YNAB in place, you can overcome one of the worst financial habits that result from financial stress — spending your money without a budget to account for it first.
The Best Financial Tool for Crypto Beginners: Coinbase
Lots of modern people are getting into investing in cryptocurrency. If you’re at the beginning of that same path, we highly recommend giving Coinbase a try.
Coinbase is a cryptocurrency exchange, which means you can use it to buy and sell different crypto coins. And, it’s also a lightweight crypto portfolio, which means it has a dashboard where you can check out your portfolio’s performance and balance.
So what is it that makes Coinbase ideal for new crypto investors? Aside from a very straightforward and user-friendly interface, Coinbase has a distinctive focus on both a deep knowledge base and an educational program where users earn crypto just for taking courses on different coins.
The Best Financial Tool for Modern, Automated Investing: Betterment
Is there anything more modern than investment via robot?
Betterment is a saving and investing app powered by robo-advisors, which use algorithms similar to the way a human financial advisor would use personal experience to make investment decisions. And, it’s good for modern investors who need a little help making financial decisions and aren’t afraid of letting technology make them easier, faster, and more affordably than traditional routes do.
Betterment can be used to manage and grow accounts for one-time purchases as well as long-term savings goals.
Try Kubera: The Best Financial Tool No Matter Your Walk of Life
Today, you don’t have to string together a piecemeal solution for monitoring, managing, and growing your portfolio and net worth.
Kubera is the only financial tool for modern people who need help syncing their entire portfolio into a united, easy-to-use dashboard.
To take advantage of the most modern financial tool on the market, just sign up for a free trial or an affordable subscription to Kubera today.
Or, if you’re a financial advisor or worth closely alongside one, you might be interested in Kubera’s features for financial professionals.